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Gov’t announces subsidies for electricity, natural gas for December

Greece’s Ministry of Environment and Energy announced on Friday the subsidies for electricity and natural gas for the month of December.

Electricity subsidies for households and businesses depend on the monthly consumption, while the natural gas aid is only for households and is horizontal, that is independent of residence size or provider.

The subsidies will apply as of December 1, 2022.

It is recalled that electricity subsidy applies to all main and non-main residence without income criteria and regardless of provider.

Electricity subsidy

Households

For monthly consumption up to 500 KWh the subsidy will be €221/MWh. This category concerns 90% of households in Greece.

For the monthly consumption of 501-1000kWh the subsidy is €171/MWh. However, if a household reduces its average daily consumption by 15% compared to corresponding month last year, then the subsidy increases by €50/MWh.

For monthly consumption over 1001KWh, the subsidy amounts to €81/MWh. It concerns only 2% of households in Greece. And on this scale, the additional subsidy of €50/MWh applies, if there is a 15% reduction in consumption.

In households that are included in the Social Household Tariff (COT), the subsidy absorbs almost 100% of the increase and the subsidy amounts to €269/MWh.

The total amount for households subsidy in December amounts to 282 million euros.

Subsidy on Professional Tariffs

For commercial consumers with power supply up to 35KVa and consumption up to 2,000KWh, the subsidy for the month of December amounts to €183/MWh.

For professional and commercial consumers up to 35KVa that exceed 2,000KWh as well as all other low-medium and high-voltage non-domestic tariffs, the subsidy amounts to €34/MWh.

For farmers, the subsidy is horizontal and amounts to €221/MWh.

The total amount of electricity subsidy in December for households and businesses is 435 million euros. Most of the amount comes from the taxation of the excess revenues of power producers, which the Greek Government has implemented since last July and has yielded more than 2.5 billion euros to date.

Natural Gas Subsidy on Households

DEPA Emporias, in collaboration with other providers, will provide a horizontal subsidy amounting to €15 per thermal MWh for all residential consumers.

The measure concerns 700,000 household consumers regardless of income, size of residence or provider.

Subsidy examples

The ministry has issues examples of how the subsidy will relieve electricity bills.

1. Household with an average monthly consumption of 400 Kwh/month:

Bill without subsidy 152 euros, with subsidy 64 euros.

2. Household with an average monthly consumption of 700 Kwh/month:

Bill without subsidy 266 euros, with subsidy 121 euros, If 15% consumption saving then 111 euros.

3. Household with an average monthly consumption of 1,200 Kwh/month:

Bill without subsidy 456 euros, with subsidy 244 euros or 200 euros with 15% saving.

PS and to think that we used to pay ¢30 per month for an average consumption 300-400 KWh.

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