Greece, ELTA will withdraw from retail electricity market in May this year

, SEE Energy News

Hellenic Post (ELTA) will withdraw from retail electricity market in May this year, almost three years after making such decision due to losses incurred in the business.

The company will soon inform its customers that they will need to make a switch to another electricity supplier by 8 May.

ELTA, which entered the retail electricity market in 2017 in an effort to take advantage of its extensive retail network around the country, has all lost interest to further participate in the Greek retail electricity market. It has not participated in monthly price announcements expected from electricity retailers as a recently introduced competitive-minded requirement ten days before each forthcoming month, instead offering a flat rate. Also, the company’s billing procedures were slow and inaccurate, which drove the customers away.

Previous attempts by the company to sell its portfolio of remaining customers to rival suppliers failed to draw any interest.

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