Τhe amount of electricity subsidies that will be granted by July the Greek government to households and businesses in order to address the effects of price increases per kilowatt hour will ψομε το νεαρλυ 0.5% of GDP or about 1 billion euros.
This is stated in the 13th Assessment of the Greek Economy published by the European Commission, describing the government’s initiatives in the energy sector.
According to the Brussels report, the Greek authorities have designed a new automatic support mechanism to mitigate cost increases for households and businesses.
The scheme replaces a temporary subsidy framework introduced in 2021 and provides a subsidy linked to exceeding current electricity prices above a given threshold.
The subsidy mechanism
Households are eligible for this grant only for their main domicile. The subsidy will cover 80% of the increase above the threshold for the first 150 KWh consumed per month and 60% of the increase for the next 150 KWh.
Vulnerable households will benefit from a larger subsidy covering 90% of the increase for the first 300 KWh.
For businesses, a single subsidy is provided for all categories covering 50% and 30% of the price increase in the first and second quarters of 2022, respectively.
“Based on the forecast of wholesale electricity prices of the Renewable Energy Manager, the total volume of grants may reach 1 billion euros by July 2022 (0.5% of GDP),” the evaluation report notes.
“The subsidy scheme has been described as fiscally neutral, as its costs will be covered by the estimated increased revenue from the emissions trading scheme. The additional revenue from the emissions trading scheme is also expected to cover the cost of a heating subsidy to mitigate the effects of the sharp rise in gas prices. “The grants appear in line with the guidelines provided in the Commission Communication on Tackling Rising Energy Prices, as they are temporary and will be re-evaluated each month,” the report said.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Greece to Proceed with Issuance of 10-Year Bond
Regarding Greece's public debt the Agency forecasts that it will continue its downward trend, recording a total reduction of around 56%.
Labor Shortage in Greece: Vacant Job Positions Costing the Economy Millions
Data show that specific sectors are facing particular challenges in filling job positions, with the primary sector struggling to find working hands.
e-EFKA: “Thaleia” Answers Policyholders’ Questions
It is a service provided by the organization, aimed at enhancing the experience for individuals with special needs.
PM Mitsotakis Outlines 2025 Goals for Growth and National Interests
"The government’s work will remain intense and multifaceted, so that day by day, something changes and the lives of all citizens become better," the prime minister stated
Tender for Repairs on Athens Olympic Stadium’s (OAKA) Iconic Roof
Tender for OAKA project, which is expected to exceed 78 million euros, stipulates that repairs, maintenance must be conducted while venue remains open for events
Louis-Dreyfus Family Eyes 21% Stake in Thessaloniki Port
The newly created Amsterdam-based LeonidsPort company has submitted a voluntary public offer for 21%
EUIPO Throws Out Turkaegean Trademark
The trademark had been filed by the Türkiye Tourism Promotion and Development Agency (TGA) in 2021 and immediately generated heated opposition by Athens
Economic Sentiment Indicator in Greece Drops Slightly in Dec.
The data revealed that the primary drivers of the slight drop were the industrial and retail trade sectors. Conversely, construction and consumer confidence improved.
Greece’s Trade Deficit Surges by 18.7% in Nov. 2024
For the first 11 months of 2024, the total value of imports reached 77.3793 billion euros, a 1.9% rise compared to 75.9482 billion euros in the same period of 2023.
Installing EV Chargers in Your Building is Harder than You Think
So, you just bought an EV in Greece and can’t wait to set up a charger in your apartment building’s parking space? Not so fast—there are a few hurdles you’ll need to clear first.
