Greece raises electricity prices by up to 15% to cover transmission rights

The debt-laden country increased its regulated power prices last year as well to reflect the true cost of energy generation as required under the terms of an EU/IMF bailout.

The government said the new tariffs, which came into effect from Jan. 1, stemmed from PPC being required to spend 270 million euros (US$360 million) for transmission rights this year.

Depending on consumption, prices for Greek households — many of which are already struggling because of austerity measures imposed by the government — will go up by between 8 and 15 percent.

They come after a 9.2-percent average increase in prices last year.

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