Gov’t extends power bill subsidies for households, farmers in November

The government said it will extend power bill subsidies for households and farmers in November, despite a fall in energy prices from last year, as conflict in the Middle East created upside risks.

It has spent more than €10 billion since the middle of 2021, mainly in subsidizing electricity and gas bills, to support households, businesses and farmers.

The government trimmed subsidies this year as electricity prices fell, but many families and businesses still struggled to pay their bills amid stubborn inflation.

The energy ministry said in a statement that about 90% of Greek households and farmers will get a power bill subsidy of €25 per megawatt hour in November.

The subsidy for vulnerable families will be €60 per megawatt hour, the ministry said, adding that the total cost for the subsidies will total €32 million next month.

The government has earmarked about €1 billion this year for power bill subsidies, a draft 2024 budget shows. [Reuters]