The total amount of the subsidy for electricity in December amounts to 435 million euros, while for natural gas the horizontal subsidy will be 15 euros per thermal megawatt hour, Environment and Energy Minister Kostas Skrekas said on Friday regarding the state subsidies on electricity and natural gas bills for December.
The minister first emphasised that the government is consistently and effectively implementing its policy to deal with the energy crisis, on two fronts: First, by creating alliances and putting pressure on Europe to implement a realistic cap on natural gas, as Prime Minister Kyriakos Mitsotakis proposed in March. And secondly by directly subsidising electricity bills to absorb the bulk of the increases.
At Thursday’s extraordinary Council of Energy Ministers, he noted, Greece led a large group of member states that called for a realistic cap on joint EU natural gas purchases, much lower than that proposed by the European Commission. Thus, Europe will be able to reduce the prices of natural gas and consequently electricity.
“It is a difficult battle, which will continue on December 13 at the extraordinary council of energy ministers in Brussels,” the minister underlined. As regards the second pillar of energy policy, he announced the subsidies for December.
Latest News
ELSTAT: Greek Health Expenditures Reach €5.89 Billion in 2022
Finally, healthcare financing as a percentage of GDP decreased to 8.5% in 2022 from 9.18% in 2021, as per the Health Accounts System report.
Sonoco Paper Mill Plants Close After 30 Years in Greece
The shut down of the two paper mills in northern Greece comes a week after a glass plant closed in Athens
BoG: Private Deposits Down by 1.068bln Euros in Feb. 2024
Corporate deposits decreased by 912 million euros, compared to a decrease of 3.167 billion euros in the previous month
Greeks’ Buying Power Second Lowest in the EU
Greeks’ purchasing power is under pressure, ranking 26th among 27 EU member states.
Greek FinMin Says Digital Work Card Tackling Undeclared Work
Greece's recently launched digital work card aimed at tackling undeclared labor has already started to produce results, said Economy and Finance Minister Kostis Hatzidakis
MSC Cruises: More than 400 Visits to Nine Greek Destinations
MSC Cruises, a subsidiary of international shipping line Mediterranean Shipping Company S.A, will be sailing to Greek ports as of this month, expanding operations in the region year-round
Eurostat: Greece Among Cheaper Hourly Labor Cost Zones
In contrast, the countries that posted the highest hourly labor costs are Luxembourg (53.9 euros), Norway (51.9 euros), Iceland
GSEVEE: Economic Sentiment Indicator in Greece Down in Q2 2023
The drop follows a significant uptick in the ESI in the second half of 2022 (69.5 units) and a slight decline in the first half of 2023 (66.7 units)
Manpower Report: Sectors in Greece that Have Achieved Full Gender Equality in the Workplace
Greece surpasses this with 45%, showcasing progress but also room for improvement. Sectors like Consumer Goods and Services lead with 69% reporting full equality globally
Bank of America (BofA): Three Reasons Greek Economy Outperforms EC Average
BofA projects growth of 1.1% in 2024 and 1.7% in 2025, compared to forecasts for eurozone growth at 0.4%/1.1%, respectively