Power Pass: the platform for compensation up to €600 opens today

The online platform for the online application for the submission of applications and the receipt of compensation from the additional electricity charges, which starting at 18 euros and going up to 600 euros, and concerns accounts issued from 1 December 2021 until 31 May 2022. The compensation is paid for 60% of the extra charges, after deducting from them state subsidies and possible subsidies from providers. The platform will remain open till June 30 and the money is expected to be credited to the accounts of beneficiaries by July 15.

Indicative examples of how compensation is calculated:

1. If someone has additional charges, after deducting the subsidies for the period in question, totalling EUR 300, they will receive a compensation of EUR 180.

2. If someone has additional charges, after deducting the subsidies for the period in question, totalling EUR 600, they will receive a compensation of EUR 360.

3. If the additional charges amount to EUR 800, the compensation will be EUR 480.

4. If the extra charges are 1.000 euros, the compensation will be 600 euros, and if the extra charges are 1.000 euros, the compensation will be 600 euros.

5. The charges are from 1.000 euros and above and again the compensation will be 600 euros.

Each interested party will enter the platform in the first few days, depending on the number of the expiring VAT number - relevant information is expected soon. Once this period has expired, all beneficiaries will be able to enter the platform, regardless of the day.

Some useful information about Power Pass

* Who are the beneficiaries: The beneficiaries of the aid are household consumers electricity, which are contracted to variable tariffs for the supply of electricity adjusted on the basis of the wholesale electricity purchase price. The aid relates to the consumption bill of the beneficiaries' main residence and the rented accommodation of their children who are studying.

* Financial support: In order to receive the financial support, each electricity supply number for each month is declared by only one beneficiary. In the event that an electricity supply number for a given month may be declared by two or more beneficiaries, the procedure for the allocation of the aid per beneficiary shall be followed.

* Amount of compensation: The amount of aid per electricity bill is calculated at 60% on the positive balance after deducting the amount of the bill adjustment clause and the rebate amounts.

* Exceptions: If the bill is not for a variable tariff, the applicant is not entitled to receive aid. Also, if the bill is not for a household supply, the applicant is not eligible to receive aid.

* Calculation: For variable tariffs, which do not indicate separately in their charges the amount corresponding to the indexation clause, this is imputed by the energy supplier (the amount resulting after deducting from the amount of the consumption-based energy supply charge an imputed energy charge amount for which the price of EUR 120 per MWh is taken into account).

* Discounts: Discounts granted by electricity suppliers are defined as any form of rebate, the amount of which depends on the energy consumption of the bill. Excludes fixed-rate discounts not calculated on the energy consumed.

* Aid amounts: The financial assistance is granted to beneficiaries who have incurred a total increase in electricity bills issued for an amount exceeding EUR 30 and may not exceed EUR 600 per beneficiary. The amount of the financial support is tax-free, unallocated and unattached in the hands of the State or third parties.

* Where they will be credited: The amount of the financial assistance shall be credited to the bank account of the beneficiary indicated in the application.

* False evidence: If the applicant is found to have submitted false or inaccurate information in the application for financial assistance, when the tax administration or other competent control body checks the applicant, double the amount of the assistance granted is immediately payable.

What will happen to the rented accommodation of children studying

The applicant is asked to confirm or update the details of the rented accommodation of dependent children of the family who are studying. In particular:

1. The applicant is requested to confirm the data of the residence concerning rent paid for the residence of children of the family who are studying, which are taken from the income tax return for the tax year 2021.

2. If the child's rented residence has changed between 1 December 2021 and 1 May 2022, the beneficiary shall complete the corresponding information for the rented residence where the child resided on 1 December 2021, 1 January 2022, 1 February 2022, 1 March 2022, 1 April 2022 and 1 May 2022.

3. The change in the details of the child's rented residence is a declaration to the tax authority and is to be pre-completed in the details of the tax return for the tax year 2022.

Additional information

The compensation will be paid to all individuals with a net family income in 2020 of up to €45,000, for the consumption bill of the main residence and the residence of students studying at home, with variable supply tariffs, for the period 1.12.2021 - 31.5.2022.

The grant will be deposited in a bank account of the beneficiary's choice, who will have to apply for it through a special application that will be created on the digital portal gov.gr by the Information Society.

For the payment of the allowance, the income for 2020 declared to the tax authorities in 2021 will be taken into account. In any case, a prerequisite for receiving the financial support is that the beneficiary must have submitted a tax return for 2020 income by 1 May 2022.

Those who are filing a tax return for the first time this year should hurry to submit it before submitting the application on the online platform for the allowance. For these individuals, the net family income after deduction of taxes earned in 2021 will be taken into account.

For households that share a common clock (e.g. double occupancy houses), the subsidy will be given to the beneficiary whose VAT number is shown on the electricity bill. If the VAT number does not belong to any of the beneficiaries, the subsidy amount will be shared among the beneficiaries.

The amount of the subsidy is tax-free, inalienable and unseizable in the hands of the State or third parties, notwithstanding any general and specific provision, shall not be subject to any deduction, fee or levy, including the special solidarity contribution, shall not be bound and shall not be offset against debts to the tax administration and the State in general, municipalities, regions, social security funds and credit institutions and shall not be included in the income limits for the payment of any social or welfare benefit.

How to submit the application

To apply, beneficiaries must:

* Enter the online platform with their passwords to Taxisnet.

* Confirm or update the data for the main residence, the electricity meter and the percentage of co-ownership.

* Correct any errors or omissions in the data on their main residence.

* Enter your bank account number (IBAN).

* Certify the accuracy of the data and finalize the submission of the application.

Beneficiaries will not enter the data on electricity consumption-based charges, as these will be transmitted to the platform by electricity suppliers and electricity managers.

     Thanasis Papadis