September 27, 2023

Athens News

News in English from Greece

The Ministry of Energy reduces the subsidy for electricity to 15 euros / MWh

The Greek Energy Minister announced on Friday that the April electricity subsidy has been reduced to 15 euros per MWh.

The minimum electricity charge in April will fall below 9 cents per kilowatt-hour based on subsidies for next month, Environment and Energy Minister Kostas Skrekas said on Friday.

The subsidy for electricity consumption for the population in April (with a monthly consumption of up to 500 kilowatt-hours) will be 1.5 cents per kilowatt-hour or 15 euros per MWh.

Electricity tariffs announced by suppliers earlier this week start at 10.4 cents, so the minimum rate will drop to 8.9 cents per kilowatt-hour, Skrekas said.

This category of consumption (up to 500 kilowatt-hours) includes 90% of households.

The subsidy for the Social Household Tariff was set at 5.4 cents per kilowatt hour or 54 euros in total, and the subsidy for farmers at 1.5 cents or 15 euros.

It is reported that the Ministry of Energy does not provide any subsidies for commercial consumers and special industries, as it did in previous months.

The amount of subsidies due in April is 24.4 million euros, while in the last 20 months a total of more than 9 billion euros have been disbursed.

“Electricity prices are on a significant decline due to falling global natural gas prices. Many providers have announced prices for April, which are approaching pre-energy crisis levels. In April, consumers will see bills that are even lower compared to March,” said the Minister for the Environment and Energy.

Skrekas stressed that the only solution to permanently lower energy prices is a green transition, adding that two new subsidized programs will be announced next month.

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