The following article on electricity costs is revealing:
At 227.3 euros/MWh, the average market clearing price in January - Expectations for a price decalcification were refuted.
Thus, according to the provisional data, the average TEA in January will be 227.30 euros/MWh, i.e. very close to the prices of December and November. It is recalled that at the peak of the crisis so far in December, electricity prices in the wholesale market in Greece were 235.38 euros/MWh, almost 7 euros more expensive than the 228.87 euros/MWh of November.
The result of the situation is that consumers will see prices (with the additional charges) of 0.29-0.30 Euro / KWh. When last year the corresponding charges were below 0.10 Euro / KWh. We are talking about a tripling of electricity prices with dramatic consequences for both households and businesses.
In the public discourse it is stated that this is the situation internationally, and indeed there is an impact across Europe because of the increase in the price of gas. But Greece has consistently had the highest or one of the highest prices in Europe. For 2022 to date, we have an average «wholesale price» (next day price) of 227 Euros, the highest in Europe. See from the official RAE website
https://www.rae.gr/map-graph/
So something is wrong in our country, and one would expect a different / more radical approach from the state / government.
The government gives consumers some subsidies, but these are not at all sufficient to cover costs (and are limited to low consumption).
I think this strategy of confrontation is wrong. Of course consumers must be supported in the short term. But this does not address the structural and long-term problems. It should:
Α. Complete the electricity market on the energy exchange and create a true forward market, which would allow providers to hedge risks and the benefits should be passed on to consumers. It seems that this is not happening, and especially the PPC (if it really acted as a “Public”) is not playing the role one would expect:
https://www.euro2day.gr/news/economy/article/2108205/sto-relanti-h-prothesmiakh-agora-hlektrismoy-eno-e.html
Β. In the medium/long term to accelerate the shift to renewables that have much lower production costs (typical is the case of the last auction with prices closed at 0.033 and 0.037 Euro per KWh.
Γ. In the medium term, to finally start exploration for the development of licensed potential domestic gas fields (instead of relying on imports)
D. Strengthen Energy Communities to enable consumers to produce their own electricity, which in today's conditions would be much cheaper. Perhaps it would be better if subsidies went to support self-production / self-consumption
And finally, energy investments should be directed towards the development of infrastructure for the much greater penetration of RES (storage and transmission networks) and the maturation of new technologies to come (Green Hydrogen, Ammonia, new biofuels) with the simultaneous creation of domestic know-how (from universities, research centres, public/private sector cooperation, etc.)
If such actions are not taken, I fear that we will face now and in the future an increase in energy poverty (already facing more than 20% of the population) and/or a new form of energy dependence of our country.
PS: Average Wholesale prices 2022 (Euro per MWh)
Country Year-To-Date
Greece (GR) 227.36
Italy (IT) 224.97
Switzerland (CH) 219.61
France (FR) 211.50
Serbia (RS) 210.80
Croatia (HR) 207.82
Slovenia (SI) 207.82
Hungary (HU) 205.02
Portugal (PT) 202.04
Spain (ES) 201.87
Slovakia (SK) 194.91
Romania (RO) 193.07
Belgium (BE) 191.71
Austria (AT) 189.59
Netherlands (NL) 189.32
Bulgaria (BG) 187.64
Czech Republic (CZ) 180.32
Germany (DE) 167.29
Luxembourg (LU) 167.29
Lithuania (LT) 147.14
Latvia (LV) 145.15
Poland (PL) 144.13
Estonia (EE) 143.06
Finland (FI) 108.04
Ukraine (UA) 80.97
