Greek PM at the Thessaloniki International Fair – We are trying to protect our citizens against price increases

“We are trying to protect our citizens from certain price increases that are already occurring worldwide. An external phenomenon, which we hope to be transient in terms of its imported consequences. But we will not just observe this happen. We have to take action”, said the Prime Minister, Kyriakos Mitsotakis, from the podium of the 85th Thessaloniki International Fair.

He noted that the income of all employees has increased by 4% during the pandemic and noted: “These are the data that protect the citizens from price increases, a global phenomenon, which I hope will be transient in its consequences. We will certainly not just observe this happen. We will take action and our answers will be three: targeted measures of low VAT on coffee and transport, strict observance of the law on competition and profiteering, provision of state support against price increases that affect every household. Especially in the matter of price increases in electricity. Greece is setting up an energy transition fund, where 150 million euros will be allocated. This practically means that the increases in the prices of electricity will be reduced or even eliminated. This choice shows that the government can and knows how to respond to any challenge. And that the PPC has the possibility to protect its customers. The grant will initially cover the end of the year. It will also concern companies that operate with low voltage electricity”. Then, the PM added that the details will be presented by the Minister of Energy next week.

For the 4th quarter of 2021 (months October to December) the first 300 Kwh are subsidized for the entire population with an amount of 30 €/Mwh, offsetting almost the entire expected increase in electricity. It is noted that the average consumption for a typical household ranges from 300-400 Kwh per month. The above subsidy also applies to low voltage business tariffs. The cost for the quarter amounts to 150 million euros and will be subsidized by the redistribution of revenues from the emissions trading scheme.