Gov’t: Power Subsidy of 1.6 cents/kWh for Households in Aug.

Greece’s energy and environment ministry on Thursday announced another extraordinary subsidy program to keep consumer power rates capped at 15 cents per KWh this month, August.

The announcement, widely expected following an approval by the Cabinet last week, comes amid the latest surge in energy prices, especially electricity produced from natural gas.

The subsidy affects all residences, regardless of whether they are primary or not, and is universal in nature, i.e. no income criteria are set. One condition, however, is that eligible households must be on a variable rate contract with their power provider. Some retail providers also offer fixed rate programs.

Specifically, for consumption of up to 500kWh, the subsidy will be 16€/MWh or 1.6 cents/kWh. The broad category encompasses some 90% of all households in Greece.

For registered low-income households the subsidy increases to 50 €/MWh or 5 cents/kWh for the total monthly power consumption.

Source: tovima.com