Electricity Tariffs: A detailed guide until 2024 – Everything you need to know about options – Newsbomb – News

Alternative options based on the preferences, consumption profile and risks that the electricity consumer is willing to bear ensure the new market operating framework established by the Ministry of Environment and Energy.

Each option combines advantages and disadvantages, which are mainly related to the amount of risk: lower risk means relatively higher prices. But the upside to any choice consumers make is that the transition to the new framework occurs at a time when electricity prices are falling. Indicative of this, the average price of electricity on the Greek Stock Exchange in December is close to 102 euros per megawatt hour, compared to 110 in the summer and 190 at the beginning of 2023, while in 2022, at the height of the crisis, it had exceeded 430 euros. Therefore, market estimates indicate that the “green” tariff could start in 2024 at less than 14 cents per kilowatt-hour.

As energy market players have informed APE, the adequacy of supplies and large reserves of natural gas in European warehouses, combined with the mild winter so far, suggest a further decline in prices without being able to rule out a reason for this. That would lead to an increase.

Consumer options include:

– Green tariffs, which were established by the Ministry in order to ensure a smooth transition to the new framework and to which all consumers will move (unless they declare a different choice for their supplier). Green invoice fees will be announced by each supplier on the first day of the month, and will be easily and directly comparable to each other. Supplier announcements about the prices at which the “green” tariff will be offered for the first time in accordance with the law should be made in the new year. However, it is not excluded, as the Ministry’s sources explained, given the approval and implementation of the system for the first time, that some providers will announce prices by January 2-3.

– Blue tariffs, with a fixed billing rate in kilowatt-hours for the duration of the contract (e.g. one year). The main advantage of the blue tariff is that the consumer is protected from possible price increases. On the other hand, if prices fall, the consumer will not benefit because the blue tariff charges will remain the same. In recent weeks, competition has developed between suppliers for fixed tariffs, with offers starting as low as 15 cents per kilowatt hour.

– Yellow tariffs are volatile and follow price fluctuations in the global and Greek market. Fees are announced either in advance (at the beginning of the consumption month) or retrospectively. Consumers who choose them will benefit if prices continue to fall, or, conversely, bear the burden if prices rise.

-Orange tariffs with different fees depending on the time zone, targeting those who have a smart meter.

Moving from one tariff to another, as well as changing the supplier, is free, without compensation to the supplier, except for those with fixed-price contracts (blue tariff), which are withdrawn by paying compensation for early termination of the contract.

Market sources estimate that the majority of consumers will switch to the green tariff (although there is also growing interest in the blue flat-fee tariff) and many will re-evaluate their position at the beginning of the year with the full picture of the tariffs to be applied announced by suppliers.

The 11 “keys” are at a discount of up to 480 euros

Meanwhile, more than 140,000 applications have so far been accepted by the AADE myHeating platform for an electric heating allowance from households choosing an air conditioner, heat pump or radiator to heat their home.

The platform will remain open until January 19, 2024, immediately after which the checks and process will be “triggered” so that the heating allowance will appear as a discount on the electricity bills (against or settlement) of the beneficiaries. It is estimated that approximately 1.2 million households are entitled to a heating allowance for electricity, with exceptional financial assistance ranging from 45 to 480 euros and for the quarter from January to March 2024.

TA NEA presents the 11 “keys” that will unlock the extraordinary boost families will see on their electricity bills:

1. Icons for the application

To place an order on the myHeating platform:

• Authorized users of the Online Services log in using their personal TAXISnet codes.
• Users without TAXISnet access codes will instead be identified by giving the VAT number and notification number of one of the tax identification laws for the income tax return of natural persons in the last five years. If you don't remember your passwords and your username is the same as your VAT number, you can't use the alternative login method. That is why you should recover your password through the relevant procedures.

2. An electricity bill with a third party VAT number

The application must be submitted by the person to whom the electricity bill was issued with a VAT number. The application cannot be submitted if the electricity bill shown on the electricity bill does not match the applicant's VAT number.

3. Residential building

Apartment managers do not need to create an apartment profile when there are tenants who use electricity for heating. The application is submitted by the beneficiary who uses electricity to heat his apartment.

4. Housing surface

One square meter of housing does not affect the amount of the allowance.

5. Duplex house

In the case of a semi-detached house with one electricity supply (shared clock), only one person can apply for a heating allowance for electricity. The same electricity number may not be used by more than one beneficiary for the same period.

6. Exceptions

Beneficiaries of heating oil or other types of fuel are excluded from this and are not entitled to receive an electric heating allowance.

7. How will the aid be disbursed?

The amount of electric heating allowance is not paid to a bank account. It is granted to the beneficiary in exchange for a settlement invoice issued by the supplier he or his representative relates to electricity consumption that falls within the period of application of the procedure.

8. Social tariff

This excludes beneficiaries of social family bills on the deadline for submitting beneficiary applications. DEDDIE verifies beneficiary details and excludes beneficiaries from household social bills.

9. Allowance

The amount of emergency assistance per month is €60 on days of class per settlement. In settlements with extreme cold (a coefficient of degree/day more than one), the amount of assistance is increased by 25% for beneficiaries living there and cannot exceed EUR 160 per month and EUR 480 on a quarterly basis. Thus, the aid for three months ranges between 45 and 480 euros.

10. Register electricity bills in myHeating

The consumer benefiting from electricity must register on the platform the required details for electricity bills. In order to record account details, electricity bill number, total amount/bill value, VAT number and supplier name, VAT number of the beneficiary to whom the bill was issued, electricity connection number shown on the bill and must be provided to match the main residence provision number announced during The demand and consumption period to which the electricity bill relates.

Calculations relating to the consumption period from January 1 to March 31, 2024 are taken into account and the total amount of expenses must be published on the platform. Data may be provided gradually, during the issuance of each account. In all cases, the beneficiary will have the possibility of submitting, until September 15, 2024, data on all invoices that were issued for provision and related to consumption for the first quarter of 2024.

11. The platform

Applications are submitted through AADE's myHeating platform. Each family can submit one application to register the provision number for its main residence.

Related news