Prime Minister Kyriakos Mitsotakis has called an emergency meeting for Tuesday morning, July 16, at the Maximos Mansion to tackle the alarming discrepancies in Greece’s wholesale electricity prices. The session will include the top officials from the Ministry of Energy.
The urgent discussion comes as the government grapples with a dramatic “price hike rally” in electricity costs, which saw the price of a megawatt-hour skyrocket by 200% in just one week. Authorities stress that all relevant data and parameters are under close scrutiny.
“We will not abandon anyone—households or businesses—in the face of potential risks,” the government asserts. Minister of Environment and Energy Theodoros Skylakakis emphasized that the current price spikes are coincidental and not linked to domestic events.
In the first half of July, the average wholesale electricity price surged by 33% compared to June’s average. The energy regulatory authority is investigating the significant fluctuations in the market to identify any speculative activities.
If these trends persist and providers do not increase discounts, variable tariffs could rise sharply, with the cost per kilowatt-hour expected to climb by 8 cents.
Government spokesperson Pavlos Marinakis has reaffirmed that the government is prepared to support citizens and businesses if the need arises.
