52% Increase in Electricity Prices in Three Months

Concerns are rising due to the increase in electricity prices for households and businesses. Electricity prices on the Greek energy exchange continue their upward trend for the third consecutive month, with a 52% increase compared to August.

According to data from the Day Ahead Market, the average price for the period of October 1-27 was €112.25 per MWh. This represents an increase of over 26% compared to September (€88.59 per MWh) and over 52% compared to August (€73.76 per MWh).

The increases are attributed to weather conditions, with calm winds limiting the operation of wind turbines in Northern, Central, and Southeastern Europe. This led to increased use of more expensive natural gas units and a rise in prices on the Greek energy exchange.

Meanwhile, household consumers are turning to blue and red electricity tariffs, which offer fixed charges. Household meters with blue tariffs exceeded 1.307 million in July, capturing a share of 22.14%.

In mid-November, the red tariffs are expected to acquire an official name, which will predefine the price range, offering a fixed amount of electricity for at least 12 months.