Greek gov’t raises subsidy for electricity, natural gas consumption

The Greek government on Friday announced new and more generous measures to ease the burden on households from rising energy prices. Presenting the measures, Environment and Energy Minister Kostas Skrekas said they created an efficient protection shield for society, along with a permanent damping mechanism against energy price increases. These measures include doubling the amount of subsidy for electric power, additional reductions for households included in the social tariff for power and commercial discounts to electricity and natural gas by PPC and DEPA Commerce.

More specifically, the government announced a doubling of a subsidy of electricity bills in the period from September to December, from 30 euros to 60 euros per MWh for consumption of up to 300 kWh per month. Practically, the subsidy is raised from 9 to 18 euros per month. PPC will offer additional discounts for electricity consumptions between 300-600 kWh per month, beyond a 30 pct discount offered since August, while the ministry recommended other alternative electricity suppliers to make similar moves. For households included in the social tariff billing system the subsidy is set at 80 euros per MWh or 24 euros per month. DEPA Commerce will offer a 15 pct discount to suppliers to be rolled over to household consumers.

Skrekas said the subsidy system will be re-evaluated after 1-2 months to make any necessary adjustments.