Natural gas: The price in Europe is at an all-time high

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Conditions of global economic suffocation are shaped by the unprecedented race recorded by international energy prices, namely gas. The energy crisis is escalating with wholesale electricity prices exceeding 400 euros per megawatt hour in ¾ of Europe. In Hellas the wholesale price reached 416 euros. First in accuracy is the France with 452 euros, while in Germany the megawatt hour exceeded 416 euros. Inside in just 1 day, gas was up 24%, with its price being set at 182 euros.

“It is like a consumer going to buy milk and from 1.5 euros, to find it costs 10 euros,” the Minister of Environment and Energy told ANT1 Costas Skrekas, who described the energy market situation as nightmarish, especially for small and medium-sized enterprises, for the support of which he has called for the creation of a permanent European mechanism.

The average wholesale price for December is set at 250 euros / MhW so far, due to the adjustment clause the kilowatt hour to be more accurate by 25 minutes. With the increase of the subsidy for December, the additional charge for consumers will be around 8.5 minutes.

December electricity prices
Wholesale price (1-21 / 12): 250 €
Surcharge: 0.25 € / Kwh
Subsidy: € 0.165 / Kwh
Difference: € 0.085 / Kwh

That is will be charged with an additional 25.5 euros per month, if they do not exceed 300 kilowatt hours in consumption.

For 400 kilowatt hours will pay 50 euros extra, while for 600 kilowatt hours the extra charge will be 100 euros.

Following the consumer complaints and in order to have transparency in the charges of the electricity bills, RAE approved new bill forms which clearly reflect the way of pricing. An ex-officio investigation by the Competition Commission into the retail market had preceded it.

In order for the country to become independent of fossil fuels, the The commission approved a 1.4 billion-euro plan for the development of hybrid power plants on 47 non-interconnected Greek islands.

Source: ERT1
Reportage: Marina Demertzian

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