A plunge of more than 37% is recorded in the first 12 days of October in electricity prices, according to the Energy Exchange.
At the same time, the rearrangements in the energy mix used by companies to generate electricity lead the Ministry of Environment and Energy to decisions for changes and reduced charges to households, in the so-called “night” tariff.
Electricity prices
In particular, and according to the data of transactions on the Energy Exchange in the first 12 days of October, the average wholesale price for electricity is significantly reduced compared to the corresponding period in September.
The average wholesale price from October 1st to 12th is at 87.09 euros per Megawatt hour from 139.88 euros per Megawatt hour which was between September 1st and 12th.
The reduction for electricity exceeds 37% and estimates show that electricity prices for November will also follow a downward trajectory in retail, i.e. for domestic consumers and professionals.
It should be noted that in October most providers followed a moderate pricing policy.
Changes in tariffs
At the same time, with the increase in the penetration of Renewable Energy Sources in the mix used by companies, the electricity prices for certain hours of the day have been affected.
The increase in the participation of photovoltaic and wind power, and especially with the production of cheap energy in the morning hours, results in stock market prices moving lower then compared to evening hours. Electricity prices are also lower on weekends.
Thus, the Ministry of Environment and Energy is launching changes in the charging zones with a lower electricity tariff.
The “night” tariff
Essentially, the hours when the so-called “night” tariff was in effect are changing and the relevant announcements are expected soon, as announced by the minister Theodoros Skylakakis.
Today the night tariff has two timetables, with the summer one (from 1 May to 31 October) covering the zone from 23:00 to 07:00 in the morning. In winter the reduced rates apply from 02:00 to 08:00 and from 15:00 to 17:00.
According to Mr. Skylakakis, the new zones for the cheapest electricity charge are: “The most interesting thing that will happen for domestic consumers is that two consumption zones will be created… In general, the cheap prices are from 10 am to 3 am noon, depending on the season and very long hours on the weekend, which is generally cheaper. So we will make this change (from night to two new zones) and there will also be seasonality in the change. The exact timing of the zones will be determined in about two weeks».
Information wants the second new zone to be on weekends 10 to 12 hours a day.
The green invoice
From January 1, 2025, changes are also coming to colored electricity tariffs. As is known, on December 31, 2024, the institutional framework for the establishment and mandatory provision by providers of the special or green tariff for the electricity consumed by households expires.
According to Thodoros Skylakakis, from January 1, 2025, the mandatory distribution of the specific electricity tariff will not apply.
Household consumers who have chosen to stay on the green tariff whether they are active or inactive (services that have not been clarified to whom they belong) will be able to remain in this category.
In addition, the market trend shows how the providers will keep the specific products in the palette of “colored” electricity tariffs.
The blue invoice
The intentions of the Ministry of Environment and Energy are to encourage domestic consumers to choose a fixed or blue electricity tariff.
Fixed charges for a period of six or 12 months, respectively, protect consumers from extreme and sudden changes in electricity prices.
In Europe, it is noted that the majority of consumers have contracts with fixed electricity charges.
Source: ot.gr
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