Greece Announces Emergency Electricity Subsidy for August

The Environment & Energy Ministry of Greece announced an emergency support measure for household electricity consumption in August, providing a subsidy of 1.6 cents per kWh (or 16 euros per MWh).

As a result, the end billing price for most consumers will be under 15 cents per kWh, applicable to both primary and secondary homes, irrespective of income or provider.

Specifically, the subsidy will benefit households with monthly consumption up to 500 kWh, covering 90% of Greek households, with a support of 16 euros/MWh. For households under the Social Household Tariff, the support will be 50 euros/MWh, lowering the final price to pre-energy-crisis levels.

These measures aim to mitigate the impact of rising electricity prices due to recent market dysfunctions in Southern Europe observed in July. Environment and Energy Minister Thodoros Skylakakis stated that the support pricing was based on known provider prices covering over 80% of the market. Deputy Minister Alexandra Sdoukou highlighted the government’s prompt response, supporting approximately 700,000 beneficiaries of the Social Household Tariff by reducing their final price to 11.3 cents/kWh.

(Source: Amna)