ECONOMY

Solution sought for soaring electricity rates

solution-sought-for-soaring-electricity-rates

The Environment and Energy Ministry is considering a series of measures to offset the effects of rising electricity prices on vulnerable consumers.

Decisions will be finalized within the week and will be announced by Prime Minister Kyriakos Mitsotakis at the Thessaloniki International Fair.

According to the Independent Power Transmission Operator (ADMIE), the wholesale price of electricity increased to 113.40 euros per megawatt-hour in July compared to €62-64 at the beginning of the year, while last year, due to the pandemic, it had fallen below €40.

Carbon dioxide emission allowances, which burden the production costs mainly of lignite but also of gas units, reached €52 per ton in the second quarter of 2021 compared to €22-27 last year.