ECONOMY

Government to announce measures to offset electricity price hikes

government-to-announce-measures-to-offset-electricity-price-hikes

The Greek government is considering doubling the funds for the subsidy of electricity bills to 300 million euros, as well as extending the criteria for granting the heating allowance — which also covers gas consumers at a cost of close to 200 million euros — in an effort to offset the additional costs of continuing energy price increases.

The final announcements are expected on Friday morning from the competent ministers.

According to sources cited by state-run news agency AMNA, the possibility of a horizontal discount on natural gas has been put on the table at the market’s initiative to cover a significant part of the price increases.

The increase in the subsidy for electricity bills “translates” into a subsidy for consumers close to 13 euros per month for consumption up to 300 kilowatt hours.

The source of funding for the measure will be the increased revenues from emissions allowances, the prices of which are also rising sharply.

This is a measure that will be included in the “toolbox” to address price increases in energy that is expected to be announced next week by the European Commission.

[AMNA]