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New energy subsidies for February: “Peanuts” for households and businesses

Greece’s Environment and Energy Minister Kostas Skrekas announced on Wednesday the subsidies for electricity and natural gas that will apply in February for households and enterprises.

The subsidy for electricity will be 39 euros per MWh for households, that is 3 euros less than in January.

The subsidy for enterprises is 65 euros.

Subsidy for natural gas remains at 40 euros.

The overall cost of the support measures to offset the high cost of energy will exceed two billion euros.

Skrekas said that the price for power is 4 times higher and for natural gas 5 times higher.

The subsidy is “peanuts” as households and businesses are on the brink of a nervous-breakdown with the recent electricity bills being 3 or 4 times higher and often have a 125% surcharge called vaguely “adjustment clause.”

A neighbor, pensioner with €650 euros monthly pension, who was paying 120 euros per 2-month bill got almost a heart attack to see the latest bill at 480 euros. A friend has to pay 650 from an average around 150 euros in winter.

The owner of a grocery store in our neighborhood saw his bill double, from €2,500 to 5,000.

Note that many households have turned to electric devises for (fugal) heating due to the high prices for natural gas and heating oil.

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