Power rates last month among the lowest in Europe

Greece recorded one of the cheapest retail electricity prices in Europe in December noted Environment and Energy Minister Kostas Skrekas in a statement regarding the figures for the Household Energy Price Index throughout Europe.

In particular, the ministry’s statement pointed out that Greece recorded the third lowest retail rate for electricity among European states that have variable-rate energy plans, as is the case for more than 90% of Greek households.

According to the ministry, in December, the average price per kilowatt-hour in Greece was 0.25 euros, much lower than the European average, which was €0.3865/KWh, but also lower than in countries with mature energy markets, such as Spain (€0.348/KWh), Italy (€0.466/KWh), Britain (€0.488/KWh) and Germany (€0.509/KWh).

Regarding natural gas for domestic consumers, Greece ranked 14th among the countries with the lowest rates, out of a total of 28 countries, as the price in the country for December 2022 was €0.1333/KWh, lower than the average price of the EU, which was at €0.1509/KWh.