New Electricity Tariffs will be available from 1 January 2024 on all electricity bills, residential and
commercial.
This means that the electricity tariffs that we have been used to so far will stop and consequently the electricity subsidies that we have had every month will also stop.
For the convenience of consumers, the new tariffs will be divided into 4 categories and will be
distinguished by colour. So we will have blue, green, yellow and orange tariffs !
What does each colour mean? What are the advantages of each colour? Until when should consumers
choose?
See the summary card describing all the colours for the new electricity tariffs.
Blue Tariff, the fixed one
The blue tariff is the plan that has a locked price of KWh for as long as the customer’s contract with the provider lasts (e.g. for one year).
The consumer will therefore be “locked” from the beginning to the price announced by the provider and
for this reason, will not be completely free to withdraw from the program in the future. The withdrawal will
come with a withdrawal clause.
The positives of the blue tariff are the peace of mind that the consumer will enjoy as he will not have to
deal with fluctuating prices every month or extra charges such as the indexation clause.
From the electricity companies’ point of view, fixing the fixed price will be a risk since they will not be
able to know from the outset any fluctuations in the wholesale electricity price for the interim period of
the fixed blue tariff contract. This is precisely why we expect the prices of the blue electricity tariffs to be
slightly more expensive than the other three electricity tariffs ( yellow, green, orange)
Yellow Tariff, the variable tariff
In the yellow tariff, the billing price per KWh is determined by the closing price of the wholesale electricity price at the end of each month. So we will learn the billing price in the first days of the next month.
In simpler terms, consumers will be on an electricity tariff that they can only lose out on, and that is
because they will be charged at the cost price of electricity plus the small margin that their provider
chooses to add.
It will be a free-standing plan, meaning that the consumer can opt out or change tariffs at any time they
wish without a withdrawal clause.
Green Tariff, the Special
Those who do not choose one of the other three electricity tariffs (blue, yellow or orange) by 31 December 2023 will automatically switch to the special green tariff!
In this special green tariff, the billing rates will be based on the basic electricity supply price of each
provider, which will be clearly indicated on its website and in the comparative table of RAEEY. These
tariffs will include, in addition to the basic supply price, a fluctuation mechanism for the price of KWh,
similar to the mechanism of the indexation clause in force before the summer of 2022.
Orange Tariff, the Dynamic
It will be an electricity tariff for those who have a smart electronic meter ( turtle ) in their home.
The smart meters that have been implemented at the moment in Greece are few and far between. We
expect them to be operational in 2024 for residential tariffs.
