
The government is currently incentivizing households that have the infrastructure and ability to do so to use oil instead of natural gas. It will be cheaper if they are heated with oil than with natural gas this year, Prime Minister Kyriakos Mitsotakis said during the press conference at the 86th TIF, adding that there will also be support for those who use natural gas, something that will be specified in the coming days.
Earlier, the Prime Minister indicated that the government would intervene “at the pump” to reduce the price of heating oil and thus provide an incentive to use this fuel over natural gas.
In parallel with this intervention, the heating allowance will be extended to 300 million euros, while there will be a subsidy on the price of natural gas which will be covered by the surplus profits of energy companies and the state.
The prime minister clarified that there will be an increase in the price of gas, but it will be “reasonable”, i.e. it will be much lower than the commercial price of natural gas
Earlier, he boldly announced a subsidy on the price of natural gas “both from the companies and from the state budget”. The goal of the intervention is a “relatively reasonable” price for natural gas, the price of which for consumers will be much lower than its commercial price.
Regarding the production of energy from lignite, to compensate for the high prices of natural gas, the Prime Minister commented that the opposition is hiding that the production of lignite has been declining for a decade and that many units are reaching the end of their lives.
He made it clear that the transition to the post-lignite era “is a one-way street as a long-term policy”, which is why the government has drawn up the “bold just transition program for areas heavily dependent on lignite.
Resorting, said the prime minister, to lignite for 1-2 years is a temporary measure and makes sense as long as natural gas prices are at their current outrageous levels. When, he added, prices are adjusted, even at higher levels than 2 years ago, the cost of lignite will be more expensive. He also added that the PPC Ptolemaida 5 unit will soon be inaugurated, giving the possibility of expanding the country’s energy mix.


Latest News

First major snow storm in Greece forecast for weekend
Including the possibility of blizzard-like conditions

New power plant eyed for Alexandroupolis vicinity
The go-ahead comes after approval this week by the board of directors of PPC and DEPA

Eight investment schemes table expression of interest for port of Volos
A relevant international tender foresees a minimum 67-percent stake in the specific port authority’s share capital.

USS George W. Bush anchors off Athens
The imposing USS George W. Bush aircraft carrier anchored in Faliro Bay

Greece moves up 9 spots in EIU’s Democracy Index; now in 25th place out of 167 countries
The country’s overall score rose to 7.97 last year, up from 7.56 in 2021, which placed Greece in 25th place

Reports: Ellington withdrawing from Attica Bank; Thrivest to participate in share cap increase
Ellington’s head of operations in Greece on Thursday resigned from the ATHEX-listed lender’s board of directors

Draft amendment aimed to prevent party formed by imprisoned GD cadre from vying in next election tabled
The draft bill is expected to land on Parliament’s floor on Tuesday

Covid-19 Greece: Public health officials point to decreased number of hospitalizations; slight hike in related fatalities
The number of intubated patients totaled 135, down from 153 in the third week of February.

Large industrial property in east Thessaloniki sold for 9.237 mln€ in auction
Total arrears – dating back to 2010 - owed to 225 former employees of the insolvent company total 11.5 million euros

Alpha Bank raises 400 mln€ from Tier 1 issue
The issue was oversubscribed by 5.7 times