Energy Ministry – The subsidy for electricity bills rises to 180 to 200 million euros

The amount that will be allocated to the Energy Transition Fund for the subsidy of electricity bills is increased.

The resources, which were originally planned, from the revenues of the emissions allowances were 150 million euros and were to be allocated for the subsidy of 9 euros for the monthly consumption bills of 300 kWh. To be precise, the amount of aid concerns the first 300 kWh consumed every month by each household or business in the low voltage category. The aid concerns consumption for the period October – November – December.

According to information from OT.gr, the total revenues that will be directed to the Energy Transition Fund for the strengthening of the electricity bills against the increases, will increase to 180 to 200 million euros. And this in order to cover the consumption of September. So a household will be subsidized with 36 euros in four months.

A relevant provision for the establishment of the Energy Transition Fund is expected to be submitted in the coming days in a bill of the Ministry of Environment and Energy that will concern energy efficiency. The Fund’s resources will not be directed only to subsidizing electricity bills but also to actions related to alleviating the total cost of the energy transition to the climate-neutral era.

The industry

At the same time, according to information from OT.gr, Energy Minister Costas Skrekas during a teleconference he had last Thursday with the Vice President of the European Commission and Competition Officer Margrethe Vestager discussed measures to strengthen the industry in the face of increases in energy cost.

More specifically, he asked for the extension of the interruption measure, which expires at the end of the month. In this way the energy-intensive industry will be boosted for the hours of electricity consumption in non-peak hours of the system.

Sources want Mr. Skrekas making the request for the extension until the approval of other measures aimed at reducing the energy costs of industries and electricity generators. These are the demand response and the strategic reserve.

Analysts’ estimates consider the discussions and the satisfaction of the request of the Greek side difficult, but are leaving a window of optimism.