Greece is among the cheapest countries in Europe for household energy costs

Public Power Corporation greece energy prices europe

The retail price of energy in Greece was the second cheapest, among 15 European countries, in variable tariffs in October, according to the monthly data of the European Energy Price Index (HEPI).

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It is noted that fluctuating electricity tariffs represent the overwhelming percentage of 90% of the total tariffs for households in Greece.

In particular, in Greece, the average price of a kilowatt hour was 25.37 cents/KWh, while large European countries such as Denmark (68.44 cents/KWh), the Netherlands (67.50 cents/KWh), Italy (64.95 cents/KWh) and Belgium (57.53 cents/KWh) are experiencing record high electricity prices.

The retail price on Spain's floating tariffs is 39% more expensive than Greece and 6% more expensive than Portugal. Regarding natural gas for domestic consumers, Greece ranks 17th, out of a total of 28 countries, in the price of natural gas for households.

The price in Greece for October 2022 was set at 12.35 cents/KWh, lower than the EU average price, which is 18 cents/KWh. Greece had the largest rate of de-escalation in natural gas prices in October, at 55%, in contrast to major European countries such as Italy and Portugal, which saw large increases.

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The Minister of Environment and Energy, Kostas Skrekas, said: "For another month, Greeks have one of the cheapest energy prices in Europe. The direct subsidies of the Government brought substantial results for the accounts of Greek consumers."

"Against the cheap and miserable criticism of SYRIZA, we prove that our policies keep energy prices as affordable as possible and this is proven in practice. We continue to support Greek society for as long as it takes," he added.

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