Federation of Industries of Greece – Energy cost support measures

The extraordinary meeting of the Council of Energy Ministers to be held tomorrow, October 26, 2021, has the mandate of the European Council to immediately promote the provision of short-term relief in the face of rising energy prices to businesses and citizens trying to recover from the COVID-19 pandemic.

We have already pointed out since the beginning of September that energy producers are passing on the increases to industry, with the direct consequence of increasing production costs and losing markets.

In a special day organized by the Federation of Industries of Greece (SBE), on September 15, it was pointed out by the President of SBE Mr. Savvakis that: “… the equation is difficult and needs forecasting at central and European level. The solution becomes even more difficult because the Greek companies that saw their exports increase in the midst of the health crisis, will either continue to execute their contracts, facing huge losses due to rising energy costs, or will be forced not to execute the agreements. and to be found unreliable in the international market ».”.

The decisions of the recent European Council on measures to support companies in the current phase of energy prices, we expect to be the trigger for the immediate adoption of measures by the Greek government, which also strongly supported the undertaking of European initiatives.