RAAEY Intervenes in Natural Gas Tariffs to Boost Transparency and Consumer Protection

The Regulatory Authority for Energy (RAAEY) is proceeding with the standardization of rules in the retail sector, following the same formula applied to electricity tariffs. As explained by Deputy Chairman Dimitris Fourlaries, the new regulatory framework is now under consultation, lasting a month before being implemented in the market. Notably, gas tariffs are divided into two categories: fixed blue tariffs and variable yellow ones. The main goals of this intervention are enhancing transparency and stabilizing contracts. Practically, consumers will receive a summary of the contract before signing, ensuring awareness of all product features. Fixed tariffs cannot be unilaterally altered by suppliers, while changes to variable tariffs will only occur for serious reasons and after six months. Additionally, RAAEY is intervening in how tariffs are advertised and how final charges are calculated and presented to consumers. According to Mr. Fourlaries, until now, there was no way to verify charges on variable products, leaving consumers to pay ad hoc prices set by suppliers. The lack of connection to a solid index made switching suppliers difficult, especially noted in Attica and Thessaloniki. Moving forward, prices will be linked to an index, enabling consumers to verify the formula. Any violations by suppliers will lead to hearings and penalties similar to those imposed in the electricity sector.