80 pct of higher electricity tariffs to be covered by the state, Economou says

“80 percent of the impending increase in electricity tariffs will be covered by the state,” government spokesman Giannis Economou said on Sunday in an interview with Skai TV, referring to the measures announced by Prime Minister Kyriakos Mitsotakis at the Thessaloniki International Fair (TIF).

He clarified that the subsidy concerns all Public Power Corporation (PPC) tariffs, noting that private power companies will be forced to follow because otherwise they will lose customers. “And of course this will also trigger competition among companies so that in many cases the absorption of price increases can be much greater,” he added.

He also noted that there will be a 20 percent increase in the heating allowance.

The government spokesman stressed that the package of measures exceeds 3.5 billion euros and the most important thing is that taxes are reduced and incomes are increased. “A shield is provided for what has happened and what may be repeated. And of course it gives very important motivation to the new generation to become the protagonist again through education, work, the use of technology, life in general in the changing country,” he said.