The reductions in electricity and gas subsidies for the month of February

The new package of support measures for February announced by the Greek Minister of Environment and Energy, Mr. Kostas Skrekas, includes reduction in electricity subsidies for households and in gas subsidies for businesses.

Thus, the total amount is determined to 350 from 395 million euros in January. As the Minister declared, the aids for the non-household electricity tariffs (businesses) and for the household gas tariffs (households) remain unchanged.

According to Μr. Skrekas, the wholesale price of electricity, in December, was determined at 235 euros per megawatt hour, in January at 227 euros and in the first days of February it moved to 221.5 euros.

The wholesale price of natural gas, in December, was 106 euros per megawatt hour and, in January, at 84.5 euros per megawatt hour.

The small de-escalation of the wholesale price of electricity and gas led to the possibility to reduce the aid in the above categories.

Electricity

In particular, for the month of February, the household invoices of the main residence will continue to be subsidized, as they have been declared in E1 of the income tax return. It concerns 4.2 million benefits.

Thus, for the first 150 kWh, the amount of the subsidy is at 150 euros per megawatt hour or 0.15 euros per kilowatt hour. In January, it was at 160 euros per megawatt hour or 0.16 euros per kilowatt hour.

The next 151 to 300 kWh will be subsidized with 110 euros per megawatt hour or 0.11 euros per kilowatt hour.

Thus, the average monthly aid for consumption of 300 kWh will rise to 39 euros instead of 42 euros, in January.

For the beneficiaries of the Social Residential Tariff, the subsidy is 170 euros per megawatt hour or 0.17 euros per kilowatt hour from 180 euros or 0.18 euros, in January. The average monthly aid for Social Residential Tariff beneficiaries is 51 euros instead of 54 euros, in January.

The total subsidy package for households amounts to 150 million euros.

For non-household electricity tariffs, i.e. professionals, cottage industries, industries and farmers, the subsidy remains as it was in January, i.e. at 65 euros per megawatt hour. The total amount of the measures is estimated at 133 million euros.

Natural gas

For all households consuming natural gas, regardless of income and consumption, the subsidy remains, in February, at 20 euros per thermal megawatt hour, while the Public Gas Corporation (DEPA) will provide an additional aid of 20 euros per thermal megawatt hour. The Public Gas Corporaton will cooperate with the other providers to offer the same discount. The measure concerns 540,000 households and is estimated at 47 million euros.

For non-household gas tariffs, the subsidy for all companies, regardless of turnover, is set at 20 euros per megawatt hour instead of 30 euros per megawatt hour, in January. The total amount of aid is estimated at 20 million euros.