Greek power subsidies to reach 1.9 billion euros in September, energy minister says

Greece will subsidize power bills in September at a cost of 1.9 billion euros, Energy Minister Kostas Skrekas said on Tuesday, extending financial support introduced in 2021 to protect consumers from soaring energy prices.

The new subsidies, which will be incorporated into power bills, will come at 639 euros per megawatt hour (MWh) for households to absorb 94 percent of the rise in their power bills, Skrekas said. The aid will be reach 604 euros per MWh for small and medium-sized firms and 639 euros per MWh for farmers, while industries will get 342 euros per MWh, he said.

“We are determined to continue the policy of protecting consumers, which is made possible thanks to the prudent and effective economic policy,” he said.

Europeans are wrestling with a sharp rise in power bills, as the war in Ukraine fuels an energy crisis.