Energy prices in Europe and Greece are skyrocketing after discussions in both the US and the EU to cut off or further restrict the supply of natural gas from Russia.
At the same time this afternoon, the Vice President of the European Commission Franz Timmermans and the Commissioner for Energy Kadri Simpson are expected to announce new measures that the Member States can adopt in order to address the energy costs, but also to increase their energy efficiency. According to a draft proposal that was leaked last week, the inclusion, among other things, of the possibility of imposing regulated electricity prices for economically weak households but also for small businesses is causing a sensation.
However, yesterday the price of TTF gas in the Dutch hub broke a new record as during yesterday’s negotiations the futures contract for April jumped up to 345 euros / MWh (Megawatt hours). The increase at the time when the price was fixed at the above level was more than 79% in relation to the closing of Friday. Compared to February 24, when Russia invaded Ukraine, the price of gas has more than doubled. Later its price dropped to 215 euros / MWh.
Electricity prices
The fossil fuel rally is also sweeping the stock markets for electricity. Thus, for today, the day ahead market of the Hellenic Energy Exchange the price of wholesale electricity jumped to 426.9 euros / MWh. It is also a record of seasons with the previous one being recorded in Greece on December 21, 2021 at 415.94 euros / MWh.
Today, compared to yesterday, the wholesale electricity price increased by 52.5%, causing tremors of concern for future electricity prices in households and businesses. The government is deeply concerned and the cost of energy was discussed last Saturday in a meeting between Prime Minister Kyriakos Mitsotakis and Minister of Environment and Energy Costas Skrekas that took place at the Maximos Palace.
Subsidies
During the week, except for the unexpected, the Minister of Environment and Energy will announce the subsidies for the electricity and gas bills for the month of March. This is a “package” of 350 million euros that will provide a little breath to home consumers and businesses. The grants will also apply to gas consumers. The amount is not expected to exceed the corresponding one of last month, February.
However, if energy prices continue to move at these rates, subsidies with resources from gaseous emissions rights will not be enough to significantly cut the additional costs to households and businesses.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Eurostat: Women and Youth Most Underpaid in Greece
In the EU 18.2% of women are low-paid compared to men, against 23% in Greece. A staggering 43% of young Greeks are low-paid—the second-worst rate in Europe.
Public Services in Greece to Go Under Review with New Rating Tool
Public services will receive their evaluation scores and feedback directly, fostering a system of accountability and continuous improvement.
Istanbul Earthquake – Greek Prof. Concerned Major Quake Yet to Strike
Responding to concerns over whether a potential major quake in Istanbul could affect Greece, Papazachos was reassuring: “The fault extends as far as Lemnos and the Northern Sporades, but it doesn’t rupture all at once. An earthquake in Istanbul doesn’t have the capacity to directly affect Greek territory.”
Greece 4th Most Popular Summer Destination for Europeans
Southern Europe remains the top choice for Europeans at 41%, though down 8% from last year, likely due to rising temperatures and climate concerns.
Easter Sales Performance and the Source of €4–5 Million in Losses
Easter retail sales were relatively weak this year, with the only "real winners" being the livestock farmers who had lambs to sell.
Hotel Foreclosures Continue to Plague Greece’s Islands
A surge in hotel foreclosures across Greece’s islands threatens small tourism businesses, despite booming visitor numbers and record-breaking travel in 2024.
Athens Launches Task Force to Safeguard Historic City Center
The new municipal unit will ensure compliance to zoning laws, curb noise, and address tourist rental issues starting from the Plaka district.
WTTC: Travel & Tourism to Create 4.5M New Jobs in EU by 2035
This year, international visitor spending is set to reach 573 billion euros, up by more than 11% year-on-year
IMF: US Tariffs Shake Global Economy, Outlook Downbeat
IMF slashes global growth forecast to 2.8% as U.S. tariffs create uncertainty and ‘negative supply shock
First Step Towards New Audiovisual Industry Hub in Drama
The project is set to contribute to the further development of Greece’s film industry and establish Drama as an audiovisual hub in the region
![Accor: Η βιωσιμότητα «κλειδί» για την ανάπτυξη και ανθεκτικότητα του ελληνικού τουρισμού [έρευνα]](https://www.ot.gr/wp-content/uploads/2025/04/thumbnail-90x90.jpg)
![Οι αλλαγές που υπάρχουν στα φορολογικά έντυπα για τα εισοδήματα του φορολογικού έτους 2024 από ακίνητα [Γ’ Μέρος]](https://www.ot.gr/wp-content/uploads/2025/03/akinita-600x400.jpeg)
