Greek homeowners see huge drop of up to 39% in electricity provider rates

Providers made major reductions in electricity rates for November household consumption.

Prices in the majority of companies are below 0.397 euros/kWh, while in October they ranged from 0.56 to 0.64 euros/kWh. The range of competitive charges for the month of November ranges from 0.35 to 0.46 euros/kWh.

It should be noted that the final prices, i.e. the charges that households will pay for next month’s consumption, will not be the same. They will be determined by the amount of subsidies that will be announced by the Ministry of Environment and Energy. The relevant decision is expected to be known next week, according to the information.

The price drop for November ranges from 28% to as much as 39%, depending on the provider. It is attributed to the de-escalation of natural gas prices (TTF) of more than 63% compared to August 26, when they were above 349 euros per Megawatt hour. Yesterday the TTF hovered around 128 euros per Megawatt hour.

Estimates want the reductions to continue until the end of the year, barring an unforeseen event.