Greece, Higher electricity bill subsidies expected in June

, SEE Energy News

According to the statement from the Government, electricity consumers eligible for the retroactive subsidy of electricity bills will be able to submit their applications on an online platform that will open in early June. The measure is related to bills issued from December 2021 to this month and will cover main-residence consumption in excess of 300 kWh per month for households with a declared annual income of up to 45,000 euros.

This concerns 1.3 million consumers who will be able to apply for the subsidy, with a ceiling of 600 euros each. The platform will automatically draw the consumption figures, the subsidy already paid out for the first 300 KWh/month and the sum of discounts by suppliers, as well as their adjustment clause cost for those six months. From the total amount, the sum of subsidies and discounts will be deducted and 60 % of the difference will be credited to consumers’ bank accounts up to 15 days after applying.

That practically means that consumers without floating electricity rates will not get any extra subsidies, while PPC clients with floating rates will only get a small subsidy, as the utility already offers discounts for consumption of between 300 and 600 kWh/month.

The total amount of the new support package for households and corporations amounts to 3.2 billion euros for the rest of the year, with 1.1 billion euros of that to be covered by the state budget. The cost for the May and June electricity bill subsidies will reach 900 million euros.