Greece, Subsidies package for July amounts to 722 million euros

, SEE Energy News

Energy subsidies package for the month of July, which should mitigate the impact of the energy crisis on Greek citizens and the economy, will amount to 722 million euros, up from 300 million euros in June, while total subsidies since last September exceed 5 billion euros.

Minister of Energy Kostas Skrekas announced that for July all residences without exception will have their electricity supply subsidized, without income criteria and for all levels of consumption. Specifically, all residential consumers will be subsidized with 200 euros/MWh, thus absorbing 84 % of the increase, while the rate for vulnerable households will be 240 euros/MWh, covering 100 % of the increases.

He said that the selective reduction of natural gas flows from Russia to Europe was added to the sharp increases in energy prices. This is a completely negative development that has pushed natural gas prices to unimaginable heights. The mix is explosive and rightly makes European citizens and European leaders deeply worried. There is no doubt that dealing with this crisis is a historic challenge.

The subsidy for commercial consumers with supply up to 35 kVA is increased to 192 euros/ MWh, absorbing up to 82 % of the increase. For rural tariffs, the subsidy amounts to 213 euros/ MWh, absorbing up to 90 % of the increase. For the rest of commercial and industrial consumers with supply of more than 35 kVA, the subsidy amounts to 148 euros/MWh.

For natural gas commercial and industrial consumers, the subsidy for July amounts to 30 euros/MWh.