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GreeceBusinessEnvironment Minister Skrekas announces record subsidies for household power bills

Environment Minister Skrekas announces record subsidies for household power bills

Hellenic News of America
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Environment and Energy Minister Kostas Skrekas on Tuesday announced that state subsidies for household electricity bills in September will reach a record 0.639 euros per KWh, amounting to 1.9 billion euros in total. The state subsidy will be deducted from the nominal power bills announced by power providers in recent days, drastically reducing the final price paid by households and enterprises.

For example, the price of 78.8-80 cents per KWh announced by the Public Power Corporation for September will drop to 14.9-16.1 cents per KWh once the subsidy is deducted. The same is true for other providers who have announced charges equal to or greater than 0.69 euros per KWh.

For those eligible for the Social Residential Tariff rates, the subsidy will reach 67.7 cents per KWh while the subsidy for enterprises will range from 60.4 cents per KWh for connections up to 35 kVA, 34.2 cents for other commercial and industrial connections and 63.9 cents for agricultural concerns. The subsidies will absorb between 89-100 pct of the increase in rates.

“Simply reading the numbers shows the great effort being made by the government, which is exhausting all fiscal margins in order to contain the cost of energy and protect the income of citizens against an energy crisis of unprecedented size and unknown duration that affects all of Europe,” Skrekas said.

He also announced plans to rationalise utility bills in order to lower the cost for households that use electricity for heating and the introduction from the following month of a permanent risk offset mechanism that will be included in utility bills.

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SOURCE; ANA-MPA

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