Greece: Electricity and gas subsidies remain unchanged in March

The Ministry of Environment and Energy locked in March the state aid for electricity and gas bills of households and businesses.

According to information, the wholesale electricity price closed in February at 213.43 euros / MWh. It was lower than in January (227 euros / MWh), while in the first two days of March the price on the Greek Energy Exchange is at the level of 255 euros / MWh, having started a 45% upward race compared to 24 February, when Russia invaded Ukraine.

Also, the price of TTF gas returned to the high levels of 130 euros / MWh that had occurred on the day of the war (132 euros). Yesterday, to be precise, it closed at 128.5 euros / MWh, when during January it had fallen even to 62 euros / MWh.

With these data, the political leadership of the PEN ministry decided to maintain for March the same aid as in February, both in electricity and gas. This is reported by sources, according to which, RIS has already notified the energy suppliers about the decisions.

Electricity bills

Thus, for the electricity bills of the main household residence, the aid will be as follows:

· At 150 euros / MWh (0.15 euros / kWh) for the first 150 kWh consumption

· At 110 euros per MWh (0.11 euros / kWh) for the monthly consumption from 151 – 300 kWh

So the average monthly aid for an average household consuming up to 300 kWh / month is 39 euros in February.

· In households that are included in the Social Household Tariff (CTO), the subsidy will amount to 170 euros per MWh (0.17 euros / MWh) for the first 300 kWh of monthly consumption.

So, the average monthly aid for the CTO is 51 euros.

For business consumers, who are contracted on floating electricity tariffs, the unit price of the subsidy remains at 65 euros / MWh.

Gas bills

To the domestic consumers, the subsidy of the Energy Transition Fund will be at 20 euros per thermal MWh, while another 20 euros per thermal MWh will be given by DEPA Trade. That is, the benefit will be total 40 euros per thermal MWh.

For the gas bills of all commercial and industrial consumers regardless of size, turnover and number of employees the subsidy will amount to 20 euros per thermal MWh for the total monthly consumption