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The country\u2019s electricity providers, set to announce their green variable rates for January on the first day of the month, are expected to keep levels subdued, with slight reductions not ruled out, aided by a fall in wholesale electricity prices in December, down to an average of 129.81 euros per MWh from 137.42 euros per MWh in November.\u00a0\u00a0<\/p>\n
However, market concerns remain over the future of natural gas prices in Europe. If they rise, electricity prices across the continent would be swayed in the same direction.\u00a0\u00a0<\/p>\n
Ukraine\u2019s situation adds uncertainty: its transit agreement with Russia for the supply of Russian gas to Europe expires at the end of 2024. Ukraine has stated it will not renew the agreement, arguing it indirectly supports Russia\u2019s war effort. If no alternative is found, Russian gas supplies to Europe could decrease considerably.\u00a0<\/p>\n
Protergia, Greece\u2019s second-largest electricity provider, announced on December 24, well ahead of the January 1 deadline, that it would keep its green variable rate unchanged for January at 15.9 cents per kWh, marking the seventh consecutive month at this level.\u00a0<\/p>\n
The green variable rate to be set by Greek power utility PPC, the retail market leader, will influence decisions by other providers and consumers. For December, PPC raised its discount on the green variable rate to 68%, keeping the price at 15.5 cents per kWh.<\/p>\n
If January\u2019s retail rates remain steady, as is anticipated, government subsidies for variable rates, aimed at keeping prices around 15 cents per kWh, may drop below the 1.5 cents per kWh provided in December.<\/p>\n<\/p><\/div>\n