Greece’s ADMIE is expected withing the next few days to secure ownership and management licenses for the Greece -Cyprus electricity interconnector, in a step both governments say is crucial to ending Cyprus’s energy isolation

A videoconference was carried out on Friday, Sept. 26, to restart talks regarding the GSI after a summer of failed meetings and public criticism from Cyprus’ Finance Minister.

The interconnection will remain in continuous operation over the next two months, after which Greece’s largest and most complex electricity transmission project will enter commercial service.

RAEK committed to approving the regulated revenue mechanism that will allow funds to be collected from Cypriot electricity consumers to support the project’s financing.

The focus of the latest virtual meeting is to address concerns raised by Cyprus’s energy regulator RAEK regarding approval of the funding mechanism for the project.

Stolen electricity doesn't simply disappear. The cost is passed on to providers and eventually to law-abiding consumers – estimated to amount to more than €400 million annually

Ministry of Environment and Energy has officially announced the framework for electricity subsidies targeting approximately one million businesses across Greece.

Greece will now offer lower electricity rates between 11:00-15:00 and 02:00-04:00.

The energy ministers of Greece, Bulgaria and Romania said sharp price hikes in SE Europe's wholesale power markets last summer wer due to external factors

Electricity bills for households with green tariffs are expected to fall as reported due to the subsidy which the Ministry of Environment and Energy will announce with prices ranging between 0.01 and 0.012 euros per KWh.

The extraordinary kWh subsidy program comes amid the latest surge in energy prices, especially electricity produced from natural gas

Greece's electrical grid operator HENDO has announced yet another day of disruptions to the supply of electricity in the greater Athens area - this time in 9 locations- as it upgrades and maintains the grid

Skylakakis outlined the government's initiatives but withheld specifics regarding the emergency tax and bill subsidies, which are slated for finalization by late July.

Prime Minister Kyriakos Mitsotakis said the extraordinary windfall tax will be levied in August and September, in a bid to subsidize surging rates

The urgent discussion comes as the government grapples with a dramatic "price hike rally" in electricity costs, which saw the price of a megawatt-hour skyrocket by 200% in just one week.

Household consumers can also find cheaper "blue" tariffs compared to "green" tariffs with a 12-month contract.

Moreover, a surplus of generated electricity cannot be fully absorbed by domestic grids and this excess power finds eager buyers in the form of companies entering into Power Purchase Agreements (PPAs), willing to pay a premium for clean energy.

The last time such an intra-day event occurred for so many hours in the Greek stock market was on May 28, 2023.

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