Natural gas subsidy set at 90 euros per megawatt hour for households

The Greek government unveiled details of a plan to subsidize electricity and natural gas bills for households to mitigate a jump in prices following Russia’s invasion of Ukraine.

Energy Minister Kostas Skrekas said on Wednesday that the starting prices of the kilowatt hour of electricity for October falls at 14-16 cents based on the price lists announced by the suppliers and the amount of the state subsidy. This aid will continue to cover all consumers, without income criteria. However, as of October, tiers will be introduced with a higher subsidy for the lowest consumptions and rewarding energy savings with an additional discount.

The subsidies in October are as follows:

– For consumption of 0-500 kilowatt-hours per month, the subsidy is 43.6 cents per kilowatt-hour, covering 90% of the increase and 90% of households.

– For consumption of 501-1000 kilowatt-hours, a subsidy of 38.6 cents per kilowatt-hour (corresponding to 80% of the increase) which increases to 43.6 cents (as in the first tier) if consumption is reduced by at least 15% compared to last year.

– For consumption of 1001 kilowatt hours and above (applies to 2 % of households) subsidy of 33.6 cents per kilowatt hour. Likewise, if consumption is reduced by at least 15% compared to last year, the subsidy increases by 5 cents and reaches the previous level (38.6 cents).

– In the Social Household Tariff the subsidy is 48.5 cents per kilowatt hour.

[AMNA]