Greece, Government is considering measures to curb soaring electricity prices

, SEE Energy News

Earlier this week, Greek Government Spokesman Yiannis Oikonomou said that Greece is considering measures to curb soaring electricity prices and mitigate the impact on consumers if the European Union does not take action on the issue soon. He said that if there is no fast and immediate European response, there will be a national plan for another decisive intervention in the price of electricity.

The Government is currently considering four alternatives for its strategy to reduce electricity bill costs, taking into account the country’s fiscal ability.

One of the four price-reducing strategies entails setting a maximum payment price per MWh for electricity producers, who would be compensated for any price differences through the budget.

The second measure involves setting different remuneration limits for the various electricity generation technologies (natural gas, lignite, renewables and hydropower).

A third option involves a combination of price ceilings and subsidies, while a fourth would significantly increase subsidies already being offered for electricity bills.