ECONOMY

Natural gas subsidy doubled for April

Natural gas subsidy doubled for April

State subsidies for natural gas used by households and businesses will be doubled in April in bid to soften the blow of biting hikes, Greece’s Energy Ministry said on Tuesday.

According to a circular sent by Energy Minister Kostas Skrekas to the country’s natural gas suppliers, the subsidy will be raised to 40 euros per megawatthour (MWh) from 20 euros in March, the ministry said.

The move will benefit some 540,000 households that rely on natural gas for heating, as well as thousands of businesses and productions units.

A discount for industrial producers and hospitals, meanwhile, is also being extended by the state-controlled gas distribution network operator DEPA.

The new support measures will come to a cost of 88.74 million euros for April, up from 63 million euros in March.