A significant deceleration of electricity tariffs that will come into force in November is expected, according to market estimates, following the reduction of both electricity prices on the energy exchange and international gas prices.
These are the nominal invoices which - in accordance with the legislation - are announced by suppliers by the 20th of each month and are valid the following month. The final charge to consumers depends on the amount of the subsidy announced and applied by the government. However, the lower the nominal tariff of each supplier, the cheaper the final charge to customers will be. Moreover, a reduction in nominal tariffs means that less subsidy will be needed to keep the final tariffs at an acceptable level.
The average price of electricity on the Greek Exchange for October until yesterday was 263.86 euros per megawatt hour. In comparison, in September it was 416.87 euros and in August 436.53 euros. The de-escalation is attributed on the one hand to the increased contribution of renewable energy sources in the mix and on the other hand to the decrease in natural gas prices.
Natural gas on the Dutch stock exchange closed yesterday at 112.15 euros per megawatt hour in the wake of the Commission's proposals to control the price of the fuel. At the peak of the crisis in August it had reached close to 350 euros.
