Energy Min.: Electricity subsidy of 0.20 euros/kWh in July for all residences

Starting in August the adjustment clause is abolished for all power bills, while the subsidy on electricity bills is extended for July for all residences regardless of the amount of monthly consumption, while from.

For the current month, the amount of the subsidy for electricity bills rises to 722 million euros, 300 million euros more than in June.

The measures were announced by the Minister of Environment and Energy Kostas Skrekas. These mean that for July all household consumers will be subsidized with 200 euros per Megawatt hour (0.20 euros per Kilowatt hour) for the electricity they consume. The difference compared to the subsidies that were given until June is that the subsidy will not be scalable and will not concern the first 300 Kilowatt hours of consumption. As also mentioned above, the subsidy will be given to all residences and to all consumers regardless of income criteria. For vulnerable household aid beneficiaries, the subsidy is set at 240 euros per Megawatt hour (0.24 euros per Kilowatt hour) and 100% of price increases are covered.

Also, for professional power use up to 35 kVA, the subsidy amounts to 192 euros per Megawatt hour, while for the rest of businesses and industries, the subsidy is 148 euros per Megawatt hour.

The subsidy for natural gas bills is set at 30 euros per Megawatt hour.

The readjustment clause

Mr. Skrekas also announced the abolition of the readjustment clause from August.

In addition, given that the temporary and extraordinary mechanism for intervention in electricity prices comes into force, Mr. Skrekas made it known that now the suppliers will notify consumers in advance for charges that will apply a month and a half later.

Energy sufficiency

Mr. Skrekas spoke about an unprecedented energy crisis that is unbearable for households and businesses. As he said, the selective reduction of Russian natural gas supply to Europe was also added, resulting in the prices jumping to exorbitantly.

The minister also said that Greece has a comprehensive plan for supply sufficiency and energy security in order to cope satisfactorily with conditions of interruption of gas supplies.

The minister also noted that the floating tank arrived at the LNG terminal of Revythoussa, doubling its capacity, and will be operational at the end of the month.Also, lignite units are fully available, while Ptolemaida 5, PPC’s new lignite unit, will be operational from September on. All five natural gas units are also ready to change their fuel to diesel.