Greece will extend subsidies to power bills at a cost of more than 1.1 billion euros in August to support households and businesses amid a spike in energy prices, Energy Minister Kostas Skrekas said on Monday.
Final consumer prices for electricity are expected to be set at 15-17 cents per kilowatt-hour in August, according to the minister’s announcements.
The subsidy for household tariffs will be without any income criteria, concern all consumption and all residences (main and secondary) and amount to €337 per megawatt-hour (or €0.337/KWh).
The total amount of subsidies reaches €1.136 billion next month and absorbs up to 90% of the increase for all residential consumers for the total monthly consumption and for main and secondary residences, 100% of the increase for beneficiaries of the Social Rates, 80% of the increase for small and medium-sized professionals with power supply up to 35 kVa and 82-99% of the increase for farmers.
For industrial consumers, the subsidy will be €250 euros/MWh to absorb up to 67% of the increase.
For natural gas and for commercial consumers, the subsidy amounts to €30 euros per thermal MWh.