The electricity subsidies for January

The new subsidies on electricity prices for January were announced by the Minister of Environment and Energy, Kostas Skrekas.

Subsidies for electricity in January continue in three scales.

As the Minister of Energy pointed out, the total amount of the subsidy for electricity in January for households and businesses amounts to 840 million euros, an amount double that of December.

The largest part of the money available this month, comes from the taxation of the surplus profits of the electricity production and supply companies and the revenues from the greenhouse gas auctions, Mr. Skrekas emphasized.

Electricity – Subsidy on Household Bills

For all main and non-main residence benefits, without income criteria and regardless of provider, the graduated subsidy for January is structured as follows:

For monthly consumptions up to 500 kWh, the subsidy will be €330/MWh. It concerns 90% of households in Greece. 87% of the increase is absorbed
For monthly consumption from 501-1,000 kWh, the subsidy is €280/MWh. However, if a household reduces its average daily consumption by 15% compared to last year’s, then the subsidy increases by €50/MWh.
For monthly consumption above 1,001 kWh, the subsidy amounts to €190/MWh. It concerns only 2% of households in Greece. And on this scale, the additional subsidy of €50/MWh applies, if there is a 15% reduction in consumption.

In households that are included in the Social Household Tariff (COT) the state absorbs almost 100% of the increase and the subsidy amounts to €378/MWh. The value of the subsidy for households in January amounts to 470 million euros.

Electricity – Subsidy on Professional Rates

For commercial consumers with power supply up to 35 kVa and consumption up to 2,000 kWh, the subsidy for the month of January amounts to €292/MWh.
For professional and commercial consumers up to 35 kVa that exceed 2,000 kWh, but also for all other non-domestic low-medium and high-voltage tariffs, the subsidy amounts to €134/MWh.
For furnaces, the subsidy is €292/MWh
For farmers, the subsidy is horizontal and amounts to €330/MWh.

Natural Gas – Subsidy on Domestic Bills – Households

For natural gas, DEPA Commercial in collaboration with the other providers will provide a horizontal subsidy amounting to 20 euros per thermal megawatt hour for all domestic consumers of natural gas. The subsidy concerns 700,000 consumers regardless of size, income and providers.