Power subsidy next month

Power subsidy next month

Next week the government is expected to launch the online platform for the submission of applications by power consumers for financial support toward part of the electricity rate hikes, as promised.

The platform, which will likely go live from June 14, will remain open until the end of the month, while the payments to eligible recipients will be disbursed in the first 10 days of July and range between 30 and 600 euros each.

According to the ministerial decision released on Tuesday, the retroactive subsidy will be handed out only to individuals with their tax residence in Greece and a net annual family income (after taxes are deducted) up to €45,000. The authorities will take into account the family incomes declared last year, while any taxpayers submitting their declaration for the first time this year should do so before submitting their power subsidy application.

Based on Finance Ministry calculations, a single person who is a private sector salary worker with an annual gross income of €60,000 will be entitled to compensation ranging from €18 to €600 for electricity bills between December 2021 and May 2022, as after taxes of €18,300 are deducted their net income amounts to €41,700.

The eligible recipients will be household consumers of electricity with floating rates (i.e. almost all households), which change in accordance with wholesale electricity rates. The subsidy concerns the consumption bill for the recipient’s main residence as well as the rented homes of any dependent children studying away from home. If the supply does not concern household use of energy, applicants will not be entitled to the subsidy.

To collect the subsidy, each power supply number must be declared by one taxpayer per month. If two or more individuals declare the same supply number for any given month, the subsidy will be split between them.

The amount of state support is calculated at 60% of the sum after the deduction of the adjustment clause amount and any discounts. Once approved, the state support will be credited to the bank account declared upon applying.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.