Electricity prices in Greece up to 30% in November

Electricity prices will  increase up to 30% in November, as providers in Greece are expected to announce significant increases in the new tariffs for the next month.

It is apparently the conflict in the Middle East, as well as the levy imposed by Bulgaria (10 euros per megawatt hour) on Russian natural gas, are putting pressure on prices in the wholesale market, with the result that they also reach the electricity bills of households and businesses, media report on Friday.

The Ministry of Environment and Energy reportedly estimates that consumers will see increases, but not unreasonable ones as the subsidies are still holding down prices and are valid until the end of the year.

It is noted that the futures contracts on the electricity exchanges are trading in the last ten days at 135-140 euros per megawatt hour, when the previous month it was around 113 euros.

According to the Minister of Environment and Energy, Theodoros Skylakakis, at the end of December the horizontal subsidies that have been in force since last year will end, and new subsidies will be introduced but for specific categories of vulnerable citizens.

The new subsidies will concern large families, expanded categories of vulnerable consumers as well as people who use electricity as a means of heating based on the income models used in the heating oil subsidy.

The announcements with the new electricity support measures are expected to be made next week.

Note that the subsidies in the last couple of months have been just a few euros, €3.something for a four-month bill!

PS everybody knows that that Hamas and Israeli strikes destroy electricity trees and Greek providers have to secure their profits right away *rolling eyes*.