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Lower electricity rates in April, yet Greece “most expensive in Europe”

March 21, 2023


The majority of Greek power providers have announced significantly lower rates for April, following the easing of prices in the Greek energy exchange and in international markets.

In many cases the prices are already lower than 15-16 cents per KWh, which is the target price for consumers after including state subsidies, which are to be announced in the following days.

However, Greece remains as “the most expensive power market in Europe,” despite the fact that oil dropped to 65$ and natural gas to lower than 40$ per KWh.

According to a report by daily kathimeirni, despite the drop in its wholesale rates of electricity, by 8% on a daily basis, the Greek power market remained the most expensive in Europe for the second day in a row on Monday.

The average price per megawatt-hour stood at 133.98 euros compared to €146.16/MWh on Sunday. Over the past seven days, the average price of a megawatt-hour in the Greek market fell to an 81-week low.

Retail tariffs for the month of April are estimated to be 15-20% lower than those in March, which were in the range of 20-25 cents per kilowatt-hour. April’s basic tariffs are expected to fluctuate around 15-20 cents per kilowatt-hour.

PS Fuel in Greece is currently at 1.90 euros….

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