Best company for electricity?

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Mandraek
Posts: 85
Joined: Thu Oct 18, 2007 4:24 pm
Location: Apokoronas

Best company for electricity?

Postby Mandraek » Thu Sep 30, 2021 12:04 pm

Does anyone have any recommendations for the greenest and cheapest electricity companies in Greece, happy to sign up online & currently with fysikoaerioellados (https://www.fysikoaerioellados.gr/) who are good I think, 15% Consistency Discount.
Fixed (€ / month) 2.6, Energy Price (€ / kWh), Day with 45% Consistency Discount 0.05885, Night with 45% Consistency Discount 0.04316. But elpedison (https://www.elpedison.gr/) offer cheaper still 0,05450/0,03925 day night ratio, monthly fee is greater at 4,50 € also they have an english website. Just for comparison DEI charges a whooping 0,096/0,076 day night ratio but with a 80% smaller fixed fee

evansmr1
Posts: 394
Joined: Tue Nov 09, 2010 3:00 pm
Location: Pirgos, Kalo Horio,

Re: Best company for electricity?

Postby evansmr1 » Sat Oct 02, 2021 12:03 pm

I changed to KEN. They were good untill they were taken over by Volton. Support went out of the wall and they kept screwing up my monthly posting of my Electric Meter reading. I spent an hour on the phone with them and they still could not understand even when I tried to compare it with previous bills and the readings.
I have changed to Watt & Volt. So far very happy with this company.
Mike
=============
Sic parvis magna

john4d
Posts: 506
Joined: Fri Dec 21, 2007 5:13 pm
Location: Near Vamos

Re: Best company for electricity?

Postby john4d » Sat Oct 02, 2021 2:39 pm

So Mike, Watt & Volt are your Current Supplier :D
There's no such thing as a bad taste joke

Mandraek
Posts: 85
Joined: Thu Oct 18, 2007 4:24 pm
Location: Apokoronas

Re: Best company for electricity?

Postby Mandraek » Sat Oct 02, 2021 3:39 pm

did a bit more digging today with the help of https://energycost.gr/ which is pretty dire but does give a list of companies .. including https://www.watt-volt.gr/ who sell at 0.066/0.04738 which is average, Volterra do 0.055/0.03949 Green so I will be going with them

ps Mike, thanks for sharing

Kookla
Posts: 217
Joined: Sun Mar 27, 2016 4:24 pm

Re: Best company for electricity?

Postby Kookla » Sat Oct 02, 2021 5:26 pm

Mandraek, I’ve also heard good things about Heron Electric ( Ηρων), but I’ve not done enough research yet. Daily rate 0.06050, Night rate 0.04317. 45% discount for ‘timely payments’ and if you have a Piraeus card even greater discounts. I’m hoping soon, during the winter months when I have more time, to find out more info. Keep us posted as to how you get on. If you are on Facebook, I think I recall on British in Greece reading about various companies.

Mandraek
Posts: 85
Joined: Thu Oct 18, 2007 4:24 pm
Location: Apokoronas

Re: Best company for electricity?

Postby Mandraek » Sat Oct 02, 2021 10:14 pm

Yes Kookla thanks for your input, they were my second choice, they do a green/eco plan at .06/.04. The website gives the option for english and they offer alot of documentation re process/requirements albeit only in greek, they also provide a straight forward telephone call system then courier sign off / document collection system

Kilkis
Posts: 13081
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: Best company for electricity?

Postby Kilkis » Sat Oct 02, 2021 11:58 pm

There is another comparison web site but I can't really make much sense of the results of their search. When you look at individual companies their web sites do seem designed for maximum confusion. They all have multiple tariffs with stupid names and no indication what the difference between them is unless you are prepared to do your own detailed comparison, e.g. construct a spread sheet. It would be useful if the regulator forced all companies to provide a simple table showing all the key features for every tariff they offer.

Really there are only a few key factors. There is a fixed charge, there is a charge per kWh, there is a discount and there is a contract period. Low fixed charge and higher charge per kWh might be good for low energy consumers. Higher fixed charges and lower charge per kWh might be better for higher energy consumers. Big discounts are good provided they are for a long term and you can get out when they end if the non-discounted rate is bad. Watch out for good headline rates and poor underlying rates. For example a massive discount that looks great but only lasts 6 months when you are locked into a 24 month contract might not really be all that brilliant.

Warwick

Mandraek
Posts: 85
Joined: Thu Oct 18, 2007 4:24 pm
Location: Apokoronas

Re: Best company for electricity?

Postby Mandraek » Tue Oct 05, 2021 7:33 pm

Kilkis wrote:designed for maximum confusion

Warwick


yes thats it in a nutshell!

some friends where saying they got a 'fixed' quote from DEI but as far as I can tell all the charges per kwh are variable?

Now found in the small print, price is related to stock exchange, hopefully the government is going to prevent cripling increases :(

... from Volterra..
Adjustment of Supply Charges - Modification of Contract Terms
7.1. It is expressly agreed between the Parties that throughout this time the Supplier may adjust the
Commission Charges as they are listed in the current Price Lists through the activation of the Clause
Adjustment, based on the variation of the cost of electricity supply for each period of consumption of
Customer, as this will result from the mathematical formula Y = A x (SMP) + B, where: Y = the cost of supply of each megawatt hour in
euro (€ / MWh) for the invoiced time period, A = the increase coefficient 1.16, SMP = the average price
received the Next Day Purchase Clearance Price (T.E.A. *) for the Consumer period of consumption that is invoiced in each
account (AGAINST and / or CLEARING), and B = the price 11.5 € / MWh.
[* The price of T.E.A. (https://www.rae.gr/day-ahead-market/) is published daily on the website of the Hellenic Stock Exchange
Energy (http://www.enexgroup.gr/)]
Specifically:
a) in the case where the value (Y) ranges between the limit of 40 € / MWh (Minimum Cost Price) and the limit of
50 € / MWh (Maximum Cost Price), the Supply Charges will remain unchanged.
b) in the case in which the value (Y) is below the limit of 40 € / MWh (Minimum Cost Price), then, the product of
difference of the value (Y) with the above Minimum Cost Price on the total consumption of the Customer for the current period
period can be credited, by activating the Adjustment Clause, in favor of the Customer.
c) in the case in which the value (Y) is above the limit of 50 € / ΜWh, (Maximum Cost Price), then respectively, the
product of the difference in value (Y) with the above Maximum Cost Price on the total consumption of the Customer for the present
time period can be correspondingly transferred, by activating the Adjustment Clause, as an additional cost

Kilkis
Posts: 13081
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: Best company for electricity?

Postby Kilkis » Tue Oct 05, 2021 11:26 pm

Basically there is one distribution network for electricity, i.e. it is a monopoly. There are a very limited number of electricity generators feeding into that network, completely dominated by DEI, i.e it is a pseudo monopoly or at best an oligopoly. There are a relatively large number of players offering to "supply" you with electricity. Technically they are all buying electricity on the wholesale market and selling it on the retail market but in reality they are printing a bill. It is an imaginary market.

I can understand why people sign up to it, as in the short term it saves some money. I would suggest, however, that they ask a simple question before doing so. In the UK many of these "billing" companies are going bankrupt because they cannot meet the terms of their contracts. They have no control over the price of wholesale electricity but they have agreed fixed price contracts with their customers and the cost of buying is currently higher than the price they can charge. When that happens OFGEM finds a new supplier and transfers their contract to that new supplier. OFGEM also ensures that if the person pays by Direct Debit and is in credit any credit gets transferred to the new supplier. The price charged by the new supplier will normally be higher than their previous cheap deal but at least there is no interruption of supply and no loss of any credit.

Is there a Greek regulator doing the same?

Warwick

evansmr1
Posts: 394
Joined: Tue Nov 09, 2010 3:00 pm
Location: Pirgos, Kalo Horio,

I can understand why people sign up to it, as in the short term it saves some money.Re: Best company for electricity?

Postby evansmr1 » Wed Oct 06, 2021 9:56 am

Warwick claims
I can understand why people sign up to it, as in the short term it saves some money.


There are other reasons, not realy possible to save money by swapping. I swapped for the following reasons
1. I did not want 3 monthly bills, I wanted monthly bills.
2. I did not want Estimated bills (DHI advised me against me posting or telephoning my Electric reading, after I complained that they were not using my readings.)

I am now able to pay monthly, I can also post my readings at the end of each month so that I get an accurate bill for the Months useage. Also the Web site is much better that than DHI, although they may now have an improved web site.
Mike
=============
Sic parvis magna

mouche
Posts: 792
Joined: Sat Jan 15, 2011 5:43 pm

Re: Best company for electricity?

Postby mouche » Sun Oct 10, 2021 11:02 am

The Energy Exchange said that Public Power Corporation’s market share fell to 62.62% in September, from 64.37% in August, with alternative suppliers raising their market shares, led by Mytilineos (8.08% from 7.67%), Heron (6.79% from 6.4%), Elpedison (6.09% from 5.69%), NRG (4.66% from 4.42%) and Watt+Volt (2.52% from 2.67%).

https://www.ekathimerini.com/economy/11 ... 12-months/

Kilkis
Posts: 13081
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: Best company for electricity?

Postby Kilkis » Sun Oct 10, 2021 11:28 am

In case it helps people searching for alternative suppliers, Mytilineos, mentioned as the biggest alternative supplier in Mouche's post, is a conglomerate active in many areas of heavy engineering. Its energy section trades under the brand Protergia.

Warwick

tsambi
Posts: 40
Joined: Mon Jul 26, 2010 7:52 am
Location: Apokoronas

Re: Best company for electricity?

Postby tsambi » Mon Oct 11, 2021 9:10 am

Not looking at changing supplier here at the moment as having been caught out in the UK 2 months ago by exactly the problem that Kilkis raised about small energy companies going under, but interested to know of anyone's experience with the DEI PPC myHome Online https://www.dei.gr/en/oikiakoi-pelates/ ... homeonline . We are currently on the DEI Residential Tariff - Γ1.

Kilkis
Posts: 13081
Joined: Sat Apr 21, 2007 3:58 pm
Location: Near Chania

Re: Best company for electricity?

Postby Kilkis » Mon Oct 11, 2021 10:54 am

A small point but note that the fixed fee of €0.50 quoted is for 1 month, i.e. €2 for a 4 month period. If you Γ1 tariff is for a single phase supply your current fixed fee is €1.69 for a 4 month period so you actually lose €0.31 on that. Not significant but not a saving. If you have a 3 phase supply then you gain €3.23 by switching.

For those with a night meter the saving on night-time electricity is not great. Using my last bill I estimate I would save about €0.50 per month on my night-time consumption.

The biggest saving is on the day-time electricity consumed especially if you are a heavy user, i.e. you get into the >2,000 kWh in a 4 month period. I'm not in that category but again using my last bill, I estimate that overall I would save about €5 per month by switching From Γ1Ν to this DEI tariff. I think my last bill was a bit high as I had the air conditioning on a lot during the day in the summer so the saving over the year would probably be a bit less.

I have a feeling that all these fixed tariffs have get out clauses along the lines that if the wholesale cost of energy rises by more than some threshold then they can adjust the tariff. I can't find the details anywhere. It's not unreasonable. If energy companies are forced to sell you energy at less than they can buy it they will all go out of business and then you won't have any electricity at all.

There is currently no significant grid level storage for renewable energy sources that fluctuate, e.g. wind/solar. In order to fill the gap with the least impact on CO2 emissions many countries have switched to using gas for base load electricity generation instead of coal or oil. As economic recovery from COVID continues and industrial production increases this will keep pushing up the price of gas and hence the price of electricity. No government can control world wide supply/demand forces. I could be wrong but I don't think this is a blip. In the UK Martin Lewis estimates that electricity prices will be double what they were a few weeks ago within one year.

Warwick

mouche
Posts: 792
Joined: Sat Jan 15, 2011 5:43 pm

Re: Best company for electricity?

Postby mouche » Mon Oct 11, 2021 11:19 am

Kilkis wrote:I have a feeling that all these fixed tariffs have get out clauses along the lines that if the wholesale cost of energy rises by more than some threshold then they can adjust the tariff. I can't find the details anywhere. It's not unreasonable. If energy companies are forced to sell you energy at less than they can buy it they will all go out of business and then you won't have any electricity at all.


Unless you buy from a company that actually produces electricity? In my native country I have a contract for a year for a fixed price from a company that actually produces electricity and I loose no sleep at night that my price is less than one third of the marketprice (spot)!


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