Greek power rates soar on gas concerns
According to the ministerial decision released on Tuesday, the retroactive subsidy to electricity consumers will be handed out only to individuals with their tax residence in Greece and a net annual family income (after taxes are deducted) up to €45,000.
Electricity prices jumped in Greece on Tuesday, moving in line with significant increases recorded in other European markets.
Wednesday’s electricity price in Greece rose to 312.67 euros per megawatt-hour, while in Germany the price was €323.34/MWh, in France €383.14/MWh, in Italy €369.07/MWh and in Austria €343.94/MWh.
Traders attributed this development to concern over natural gas flows from Russia, while an expected heat wave in country is an additional factor pushing prices higher.
