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An Explosive Situation
The prolonged heatwave affecting the Balkans and much of Central and Eastern Europe, combined with gaps in energy transmission networks and the damage to Ukraine’s energy infrastructure due to ongoing conflict, has created a volatile scenario. This has led to a surge in wholesale electricity prices, which in turn has impacted retail prices and ultimately resulted in a mini summer energy crisis.
Revealing Weaknesses
The conditions experienced throughout July highlighted significant vulnerabilities in electrical interconnections, particularly between Western and Central-Eastern European countries. The weakest link was identified in the section between Hungary and Austria. This deficiency has caused remarkable price increases in Hungary, triggering a domino effect that has raised wholesale prices across a region that spans much of Central Europe, reaching countries like Greece and Italy, according to data from the Ministry of Environment and Energy.
Government Support Returns
In response to the situation, the Ministry of Environment and Energy has implemented emergency measures to provide immediate relief to residential consumers. This includes the reinstatement of electricity subsidies, amounting to €0.016 per kilowatt-hour for August, specifically targeting variable tariffs known as “yellow” and “green” plans, for consumption levels up to 500 kilowatt-hours monthly.
How HERO responds
HERO, the leading energy provider in Greece, stands beside its consumers, ready to meet their demand for competitive electricity rates, countering the rising prices. To achieve this, HERO offers tailored solutions based on customers’ energy profiles:
Benefits for Consumers
In August, customers on the HERO “Yellow Tariff” (Yellow Free & Benefit Home, Protect Home, and Generous family plans) will receive an additional discount equal to the government subsidy, applicable across their total consumption, without the 500-kilowatt-hour limitation.
Introducing Yellow One Home
The Yellow One Home competitive supply charge is transparent, announced on the first of every month for the current month’s consumption. From August through September 2024, this tariff guarantees a fixed, competitive supply charge of €0.0936 per kilowatt-hour. This rate includes a 20% prompt payment discount for customers who settle their bills on time. Moreover, those opting for Yellow One will also benefit from the August government subsidy, resulting in an even lower final supply charge of €0.0776 per kilowatt-hour for the first 500 kilowatt-hours consumed in August.
Stability with Basic Home
For August, HERO is maintaining the final supply charge from July at €0.15879 per kilowatt-hour for residential customers on the Basic Home plan (green tariff). Additionally, consumers will be eligible for the government subsidy of €0.016 per kilowatt-hour for the first 500 kilowatt-hours consumed in August 2024.
Introducing Fix Genius Home
This plan is designed for residential consumers who prioritize stability in their energy costs, providing a fixed rate that ensures predictability in budgeting.
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Electricity Bills and Innovative Solutions
Fix Genius Home offers a unique electricity tariff known as the “blue” rate, providing competitive pricing that remains stable for six months. This initiative is part of the energy community “HERO EN.A”, which allows residential consumers to benefit from green energy produced by HERO’s solar parks. Participants receive credits (discounts) on their supply charges from HERO, effectively lowering their electricity costs.
How It Works
By joining this community, homeowners can enjoy the advantages of locally produced energy without needing to install solar panels on their rooftops. This means they are free from the bureaucratic and time-consuming processes that often accompany such installations. The credits they receive directly reduce their supply charges, making their energy bills more manageable.
Commitment to Responsibility
As always, HERO stands firm in its commitment to act responsibly, especially in challenging situations faced by consumers. The company recognizes the pressing energy circumstances this summer and offers simple, effective, and affordable solutions that enhance competition. These options empower residential consumers to navigate the unpredictable energy landscape more effectively.
Conclusion
Through innovative programs and a dedication to customer welfare, HERO continues to lead the way in the Greek energy market, ensuring that households have the tools and support they need during these tough times.
