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Greece extends energy financial relief into January with €400 million

Greece will extend financial relief to help households and businesses deal with surging energy prices into January at a cost of about 400 million euros, Prime Minister Kyriakos Mitsotakis said on Friday.

“For another month the government will support households, farmers and businesses in the face of the global energy turmoil. In January alone, it will allocate another 400 million euros, covering a significant part of the increases in electricity bills. And it will constantly monitor the phenomenon until it de-escalates,” Prime Minister Kyriakos Mitsotakis said in a statement broadcast on Friday on the support measures for households and businesses from the effects of the energy crisis.

“The Energy Minister will make detailed announcements per category in a short time. Both for the state subsidy and for electricity and natural gas discounts. This is a generous and realistic aid plan that helps the present, but does not endanger the future,” he underlined.

“The emphasis is, obviously, on the relief of our households. But we will also help businesses stay on track for growth, while maintaining jobs. And, mainly, in order not to increase the production costs and this in turn to be passed on to the prices of the products,” he added.

“This programme will soon be followed by another one, which concerns overall energy savings. Based on this, there will be subsidies for the replacement of old electrical appliances, which will then be recycled. Our goal is for all Greek homes to operate with modern and more economical electrical equipment,” the prime minister stressed.

Clarifying the subsidies on electricity Energy Minister Kostas Skrekas said that the subsidy will be 42 euros for average households and 54 euros for vulnerable households. Financial relief for natural gas will be 40 euros. More details in Greek here.

Power bill subsidies would mainly target electricity costs for primary residences, Skrekas said at a press conference Friday noon.

The subsidies be funded by revenues from the country’s carbon emissions trading mechanism.

Skrekas said the government would review the situation in February and amend the size of the subsidies.

PS Meanwhile more and more Greeks who got down on their knees from the pressure of electricity and natural gas bills are wondering how exactly the subsidies are materialized.

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