Ahead of the announcement of October electricity tariffs, Nikos Mantzaris spoke on ERT with journalist Katerina Christofilidou about energy prices.
He first explained that retail prices usually follow the trajectory of wholesale prices, though there are exceptions. In cases where retail prices rise despite falling wholesale prices, he stressed that both the Regulatory Authority for Energy, Waste and Water (RAAEY) and the government can – and should – intervene. He reminded that on the two occasions when the government asked suppliers to adjust their commercial policy in line with lower wholesale prices (August 2024 and 2025), the outcome was positive for consumers.
Referring to wholesale market prices, he clarified that they are shaped by multiple factors. As he noted, when the power generation mix includes a high share of Renewable Energy Sources (RES), prices go down. Conversely, when electricity production relies mainly on fossil gas – either to meet domestic demand or for exports to neighboring countries, as has often been the case since late 2024 – wholesale prices rise.
Finally, he underlined the crucial role of energy storage infrastructure, such as batteries and pumped hydro. Their absence, he said, is largely responsible for the curtailment of cheap renewable energy. If these curtailments were avoided, reliance on expensive gas would decrease and, in turn, electricity prices would fall.
You can watch the interview excerpt [in Greek] here and read the related article [in Greek] here.
