FINANCE

Additional gas, power subsidies

additional-gas-power-subsidies

The government has decided to increase its subsidization of the electricity and natural gas bills, under the burden of the ever-rising energy market rates.

Kathimerini understands December power bills will have their state subsidy increased from 39 euros per month for the first 300 kilowatt-hours of consumption to €48/month. The subsidy will be financed by the Energy Transition Fund, where revenues from the emission rights auctions go.

Public Gas Corporation (DEPA) announced it has started implementing a 16% discount on natural gas use, slightly higher than the 15% originally announced, which translates into €11 per megawatt-hour in October and €15/MWh in November. December’s discount will be bigger.

As of Monday, December 20, DEPA Commercial will credit transmission companies for the months of October and November, and they will then retroactively implement the discount for domestic consumers.

The government is planning more support measures for consumers in next year’s first quarter, though the span of those measures will be determined by various external factors.