Power subsidy ramped up
Environment and Energy Minister Kostas Skrekas on Friday announced the doubling of the total amount of subsidies for electricity for households and businesses for January, compared to December, as they will add up to 840 million euros.
The largest part comes from the taxation of the windfall profits of power generation companies as well as electricity suppliers.
For next month, with regard to electricity and the subsidy on household tariffs for all main and non-main residence services without income criteria and regardless of the provider, the graduated subsidy is structured as follows:
• For monthly consumption up to 500 kilowatt-hours, the subsidy will be €330 per megawatt-hour. This category concerns nine out of 10 households in Greece. Almost 90% of the increase will be absorbed this way, Skrekas said.
• For monthly consumption from 501 to 1,000 KWh, the subsidy amounts to €280/MWh. If a household reduces its average daily consumption by 15%, the subsidy increases by €50/MWh.
• For monthly consumption exceeding 1,001 KWh, the subsidy amounts to €190/MWh and concerns two out of every 100 households in Greece.
• Households included in the social household tariff have 100% of the increase absorbed and the subsidy will be €378/MWh.
• For commercial consumers with a supply up to 35 kilovolt amps (kVA) and for monthly consumption up to 2,000 KWh, the subsidy amounts to €292/MWh – i.e. almost 80% of the increase is absorbed.
• For commercial consumers with a supply up to 35 kVA exceeding 2,000 KWh and for all low-, medium- and high-voltage non-residential tariffs, the subsidy amounts to €134/MWh.
• For bakeries, regardless of power supply and for total monthly consumption, the subsidy amounts to €292/MWh – that is, it is an absorption of almost 80% of the increase.
• For farmers, the subsidy is horizontal and amounts to €330 euros/MWh.
On natural gas and the subsidy on household tariffs, DEPA Commercial, in cooperation with the other suppliers it provides with natural gas, will offer a horizontal subsidy of €20/MWh; this concerns 700,000 households regardless of their residence and income.
