Greece introduces emergency intervention measures in electricity supply sector to combat energy crisis
(Article by Mira Todorovic Symeonides, Partner, and Athina Zoi, Associate published in the Energy & Natural Resources Newsletter of the ILO on December 19, 2022)
Introduction
Following the implementation of emergency intervention in the electricity market that was imposed on electricity producers during
Summer and early Autumn 2022, Greece introduced two measures relating to electricity supplies. The first measure suspends the
application of the adjustment clause included in supply agreements that enables suppliers to increase the electricity price paid by end
consumers to match an increase of the wholesale electricity price and only to notify consumers about the adjustment.(1)
The second measure, introduced in November 2022, provides for the extraordinary contribution that electricity suppliers must pay in case
they have particularly high profits.(2) Both measures are temporary and aim to deal with the energy crisis, to support consumers and to
boost the operation of the energy market.
Prohibition of adjustment clause on floating electricity supplies invoices
The suspension of adjustment clause, which is linked to the fluctuation of prices in the wholesale market, concerns the consumption of
electricity for the period from 1 August 2022 until 1 July 2023. The period of validity may be extended, even reduced, by a decision of the
minister of environment and energy.
During the application of this measure, electricity suppliers are required to announce on their web pages, every month in advance, the
variety of tariffs they apply (ie,fixed charges and electricity supply charges for the capacity and electricity). This measure does not apply
to consumers (usually legal entities) which negotiate their supply in compliance with the Electricity Supply Regulation. Moreover, all
customers have the right to choose another type of electricity supply agreement if they do not have a supply contract in force.
While the measure is valid, consumers may change their supplier or supply agreement following a change in supply charges. Such a
change is free for customers and is permitted without the supplier’s right to compensation.
Finally, the Energy Regulatory Authority (RAE) monitors the implementation of the above provisions, digitally publishes a monthly tariff of
all suppliers for the next month and imposes sanctions in case of violations (eg, abusive practices from suppliers).
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