Hikes Despite Austerity: 40% in Electricity, 25% in Public Transport Fares

Posted by in Economy

And when you think ‘you’ve seen everything’, Greece’s lenders are always good for one or two additional surprises. Electricity bills will go up by 40% and public transport fares will increase by 25%. Yes. In times of harsh austerity, where many households struggle to make ends meet and the new austerity package will force millions deeper in despair. 

Electricity

Electricity bill hikes will affect private households and small enterprises making use of ‘low voltage electricity’. The hikes of total 40% will be implemented in two or three steps and are expected to go in effect in Janurary 2013.

Public Transport Fares

Hikes will be at least by 25%. Cheap tickets for buses, tram and trolley will go up to 1.50 euro (from 1.20 today) and for Metro or combined for all public transport means will go up to 1.75 euro (from 1.40 today).

The public transport hikes will have to be implemented by March 2013.