Power rates drop further this month

Estimates for a decline in electricity prices were have been confirmed by the providers, who have announced the green tariff charges for February consumption.

The price per kilowatt-hour is down on average to 13.3 cents, 11% below the corresponding price in January (14.7 cents), with the price range for February ranging from 11.9 to 14.6 cents against 13.6 to 17.1 cents in January.

The decline in prices is primarily the result of the continued de-escalation of the price of natural gas and the price of electricity in the wholesale market and, at the same time, the intensity of competition between providers triggered by the intervention by Energy and Environment Minister Thodoros Skylakakis with the establishment of the special green tariff as mandatory for the set of providers and easily comparable for consumers.

In general, the providers do not seem to differentiate their commercial policy from that of January, in the sense that in the second month of the implementation of the new rates, the same companies are moving in the high price range as well as the low range. The lowest tariff on the market for February is from Elin, with a charge of 11.798 cents/KWh.