Starting in August the adjustment clause is abolished for all power bills, while the subsidy on electricity bills is extended for July for all residences regardless of the amount of monthly consumption, while from.
For the current month, the amount of the subsidy for electricity bills rises to 722 million euros, 300 million euros more than in June.
The measures were announced by the Minister of Environment and Energy Kostas Skrekas. These mean that for July all household consumers will be subsidized with 200 euros per Megawatt hour (0.20 euros per Kilowatt hour) for the electricity they consume. The difference compared to the subsidies that were given until June is that the subsidy will not be scalable and will not concern the first 300 Kilowatt hours of consumption. As also mentioned above, the subsidy will be given to all residences and to all consumers regardless of income criteria. For vulnerable household aid beneficiaries, the subsidy is set at 240 euros per Megawatt hour (0.24 euros per Kilowatt hour) and 100% of price increases are covered.
Also, for professional power use up to 35 kVA, the subsidy amounts to 192 euros per Megawatt hour, while for the rest of businesses and industries, the subsidy is 148 euros per Megawatt hour.
The subsidy for natural gas bills is set at 30 euros per Megawatt hour.
The readjustment clause
Mr. Skrekas also announced the abolition of the readjustment clause from August.
In addition, given that the temporary and extraordinary mechanism for intervention in electricity prices comes into force, Mr. Skrekas made it known that now the suppliers will notify consumers in advance for charges that will apply a month and a half later.
Energy sufficiency
Mr. Skrekas spoke about an unprecedented energy crisis that is unbearable for households and businesses. As he said, the selective reduction of Russian natural gas supply to Europe was also added, resulting in the prices jumping to exorbitantly.
The minister also said that Greece has a comprehensive plan for supply sufficiency and energy security in order to cope satisfactorily with conditions of interruption of gas supplies.
The minister also noted that the floating tank arrived at the LNG terminal of Revythoussa, doubling its capacity, and will be operational at the end of the month.Also, lignite units are fully available, while Ptolemaida 5, PPC’s new lignite unit, will be operational from September on. All five natural gas units are also ready to change their fuel to diesel.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
PM Mitsotakis to Chair New Democracy’s Committee Meeting
Today’s meeting is seen as a crucial opportunity to halt internal disputes within ND and reaffirm unity within the party.
Trump Tariffs Jeopardize Growth: Piraeus Chamber of Commerce
The tariffs, aimed at reducing the U.S. trade deficit, are expected to have both direct and indirect effects on the European economy
EU Condemns Trump Tariffs, Prepares to Retaliate
As tensions escalate, the EU is expected to continue negotiations with Washington while preparing for potential economic retaliation.
The Likely Impact of Trump Tariffs on Europe and Greece
Trump tariffs are expected to negatively affect economic growth in the Eurozone while Greece's exports could take a hit.
Motor Oil Results for 2024: Adjusted EBITDA of 995 mln€; Proposed Dividend of 1.4€ Per Share
Adjusted EBITDA for 2024 was down 33% yoy. The adjusted profit after tax for 2024 stood at 504 million euros, a 43% decrease from the previous year
Cost of Living: Why Greece’s 3% Inflation Is Raising Alarm
Greece appears to be in a more difficult position when it comes to price hikes, just as we enter the era of Trump’s tariffs.
Fitch Ratings Upgrades the Four Greek Systemic Banks
NBG’s upgrade reflects the bank’s ongoing improvements in its credit profile, Fitch notes in its report, including strong profitability, a reduction in non-performing exposures (NPEs), and lower credit losses
Trump to Announce Sweeping New Tariffs Wednesday, Global Retaliation Expected
With Trump's announcement just hours away, markets, businesses, and foreign governments are bracing for the fallout of one of the most aggressive shifts in U.S. trade policy in decades.
Inflation in Greece at 3.1% in March, Eurostat Reports
Average inflation in the eurozone settled at 2.2%, compared to 2.3% in February
Greece’s Unemployment Rate Drops to 8.6% in February
Despite the overall decline, unemployment remains higher among women and young people.
