A spike in wholesale electricity rates across Europe this week, which were even more pronounced for Greece, in tandem with recent power outages and shortages across southeast and central Europe have raised alarm bells within the Greek government, with another round of subsidies now considered.
The development also follows widespread dissatisfaction by numerous business owners in the country who were called upon last week to reimburse past power subsidies.
The price for electricity on Monday, July 15, 2024, increased by 37% from the previous rate, to close at 191.13 euros per MWh.
A closely watched meeting is scheduled for Tuesday, chaired by Prime Minister Kyriakos Mitsotakis at the Maximos Mansion with the energy and environment ministry’s leadership, to discuss skyrocketing wholesale electricity rates.
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates – for electricity until the end of the summer.
Consumers that chose – or didn’t choose and were, by default, lumped into the “green” program – the variable rate (green) program or a special program are expected to see major increases for power prices next month, August.
