Greece’s Rising Electricity Bills, Exploring Alternative Tariffs

Significant increases in special or “green” electricity tariffs for June are inflating household consumers’ bills in Greece. Providers announced the new charges on June 2, with rates 11% to 65% higher compared to May.

The competitive charges for special or “green” electricity tariffs now vary depending on the provider, ranging from 0.118 euros to 0.169 per kilowatt-hour. The monthly fixed charge ranges from 4 to 5 euros per month.

Domestic electricity market experts estimate that prices will remain high throughout the summer season. Increased demand from air conditioners, coupled with low wind limiting wind farm operations to only solar farms, will lead to the increased use of more expensive natural gas power plants. Consequently, electricity production costs will rise.

An alternative for cheaper electricity with a fixed rate is the fixed or “blue” tariff with a specified contract duration. These products maintain a stable rate for 6 to 12 months, according to provider offerings, but have a higher monthly fixed charge of around 9.50 to 9.90 euros.

Currently, charges for six-month “blue” tariffs range from 0.088 to 0.0992 euros per kilowatt-hour. Compared to the highest rate for green tariffs, the lower rate offers up to 35% cheaper electricity.

Household consumers can also find cheaper “blue” tariffs compared to “green” tariffs with a 12-month contract. Some charges range from 0.089 to 0.116 euros per kilowatt-hour, and even fixed 12-month tariffs priced at 0.12 euros per kilowatt-hour are considered advantageous options.