Greek energy cost amongst the highest in Europe, says CEER report

The annual monitoring report conducted by the Council of European Energy Regulators (CEER) has shown that despite the…

The annual monitoring report conducted by the Council of European Energy Regulators (CEER) has shown that despite the general reduction of retail prices in electricity and natural gas, prices continued to rise in Europe in 2013, albeit at a lower rate. The average household cost of electricity rose by 4.4%, while for natural gas prices rose by 2.7%

The CEER report indicates that the price increases in many EU members is attributed to a lack of competition, which in turn results in less customer mobility and less pressure on suppliers to reduce their crises and incentivize customers to switch suppliers. The highest price increases were also found to derive from network charges, taxes and special levies. This occurred in all EU countries, except Malta, Ireland, Cyprus, Great Britain and Greece.

Additionally the report shows that in Greece the household price of energy is determined by 53% from the cost of energy, 18% from network charges, 18% from taxes and 12% from renewable energy source levies. The report points out that in cases where prices were increased between 2012 and 2013, the levies for renewables were to blame. The cost of renewable increased by 119% in Greece and 44% in Lithuania.

Finally, it is suggested that customers in countries with deregulated markets appear to have a greater selection of available products and suppliers and as such are more content with the services provided. The report also highlights that despite the tendency of companies to create various packages and categories, in many cases (such as in Greece), there are virtually no alternatives available to customers, highlighting the dominant position of suppliers.

The full report is available online.

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