Greece, Auction for incentives to energy-intensive industry in December

, SEE Energy News

The first auction to offer compensation to high and medium voltage industrial consumers for reduced electricity consumption is due to take place in December as part of Greece’s efforts to limit electricity demand by 5% during peak hours, as requested by the European Commission. commissions that all EU member states should fulfill.

Industrial consumers at high and medium voltage who submit the lowest offers for compensation at monthly auctions will be offered compensation for the energy consumed.

Separate auctions are planned for industrial consumers at high and medium voltage, Greek media reported.

The compensation amounts for successful bidders will be financed from the Energy Transition Fund.

A revision of the law facilitating these auctions was recently passed by the Greek parliament. However, other legislative and regulatory issues have yet to be resolved before the auction takes place, which is expected to be as early as December.

The government in Athens has designated a period of three hours, from 18:00 to 21:00, including weekends, as the interval with the highest consumption of electricity in the country.