After a period of several temporary reforms and measures implementation in the domestic electricity market in Greece, the new year saw their termination, which simultaneously set a new landscape in the electricity retail market. The re-introduction of variable wholesale-adjusted tariffs, that have been previously suspended by the government to better control prices and facilitate the consumer’s choice during a period of high wholesale prices, led to the necessity of seeking for a solution that would ensure a transparent and comparable market.

The introduction of the “special tariff”, mandatory for all suppliers, was the government’s answer to address this issue. The common characteristics of the “special tariff” and its calculation method enables the ex-ante comparison of tariffs since its final price is known on the first day of each month. Electricity consumers, except for those on a fixed price contract, were transferred to this new tariff, given that their existing one would come to an end in January. Although the switch was the default option, consumers still had the final choice to either accept it or explore other offers in the market.

Additionally, colour labels have been assigned for different tariff categories to enhance transparency and consumer awareness. Starting from January 1st, the following types of tariffs are available in the residential electricity market:

• Special tariff (Green)

• Variable tariff (Yellow)

• Fixed tariff (Blue)

• Dynamic tariff (Orange)

On the other hand, the new tariff scheme, which introduced several different types of tariffs, with complicated calculation formulas, including price adjustment mechanisms, has added extra complexity to the market. Significant savings opportunities are available in the market, highlighting the importance of regular comparison of available tariffs, however, this requires multiple factors to be taken under consideration by consumers, and in most cases, only partial comparison can be achieved.

For more information on the new electricity retail market scheme and a detailed comparison of the existing tariffs, read ‘Unravelling the dynamics of the new electricity retail market scheme in Greece: Key considerations and comprehensive comparison of prices’.