Stabilization of electricity tariffs expected for May with small deviations compared to April according to estimates from supplier sources.
The average price of electricity on the Stock Exchange – a key component in determining retail prices – fluctuated in April at 61 euros per megawatt hour from 67 euros in March and 73 in February.
An ally of consumers is primarily renewable energy sources, whose participation in the market compresses the stock market price especially in conditions of low demand and excess production due to weather conditions, as happens in the spring. However, the instability in the international market works against the decrease in prices and mainly the rise in natural gas prices from 25 euros per megawatt hour at the beginning of April, up to 33 euros during the month.
Changing consumer behavior
As stated by the general manager of Natural Gas Hellenic Energy Company, Yannis Mitropoulos, the following should be added to the market equation:
-The change in consumer behavior after the crisis as the majority of consumers have reduced demand.
-The reluctance to change supplier attributed to several factors: insecurity, small differences in tariffs between suppliers, difficulty approaching the competition’s customers. As an example, for an average household with a consumption of 4 megawatt hours per year, a tariff lower by 20 euros per megawatt hour means a saving of 80 euros on an annual basis, or about 7 euros per month.
-The open wound of rheumatism that burdens consistent consumers with the cost of energy that is consumed every year but not billed. The cost of electricity theft is determined after a study by DEDDIE which records the energy traded in the networks in relation to the one invoiced by the suppliers. The difference between the two is due to technical losses of the network and electricity thefts to deal with which the most effective intervention is related to the installation of “smart” consumption meters. At the same time, the bill of the Ministry of the Interior which is in the Parliament, includes a provision for the obligation to present a new Responsible Declaration of the licensed electrician installer if the business operator changes, and removal of the electrician’s professional license in case of participation in power theft.
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