This week, legislation will be submitted to Parliament regarding changes to the functioning of the electricity market, aimed at returning prices to last September's levels.
The regulation will be incorporated as a provision or amendment in the bill to simplify the licensing of Renewable Energy Sources, which was recently put up for public consultation.
The core of the electricity price regulation, as agreed with the European Commission, stipulates that The price will continue to be set daily on the Energy Exchange, but producers will not receive the market price, but rather an administratively determined compensation.. In this way, indirect suspension of the adjustment clause of the prices currently applied to variable tariffs.
The amount of compensation for electricity producers will be determined after the law is passed by ministerial decision and will take effect on July 1. Information indicates that the price for renewable sources will be set at €85-90 euros per megawatt hour, while for thermal units the price will vary according to fluctuations in the price of fuel and carbon dioxide emission rights, at levels that ensure cost coverage and a reasonable profit margin. At the same time, subsidies to consumers will continue.
It is estimated that the measures to be implemented will absorb 70% – 80% of the increase in the price per kilowatt hour for households, businesses, and farmers.
At the same time, the process is underway for refund to households of the 60% increase for electricity bills (up to €600) issued from December 2021 to May 2022 and relating to their main residence.
