Power Pass: the platform opens next Thursday

Next Thursday, June 16, the online platform is expected to open for the submission of applications for compensation for the extra charges on electricity.

However, as stated by Deputy Finance Minister Theodoros Skylakakis, an effort is being made to open the platform one day earlier, i.e. on Wednesday 15 June. According to the provisions of the relevant FEK, the platform will remain open until the last day of June.

Payment of the amounts will be made in the first 15 days of July.

The compensation for the Power Pass will start from EUR 18 and will go up to EUR 600 per meter, which is the maximum limit, and will apply to those accounts issued from 1 December 2021 until 31 May 2022.

The compensation is paid for the 60% of the extra charges, after deducting the subsidies from the State and possibly the providers and up to the amount of EUR 600.

Let's look at some illustrative examples.

1. If someone has additional charges, after deducting the subsidies for that period, totalling €600, they will receive a compensation of €360.

2. If the additional charges amount to €800, the compensation will be €480.

3. 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.

4. The charges are from 1,000 euros and above and again the compensation will be 600 euros.

Let's look at some useful information about Power Pass.

• Who are beneficiaries: The beneficiaries of the aid are household electricity consumers who are contracted to variable electricity supply tariffs that are adjusted on the basis of the wholesale electricity market 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 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 is declared by two or more beneficiaries, the procedure for allocating the aid per beneficiary will 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 discount amounts.

• Exceptions: If the bill is not for a variable tariff, the applicant is not eligible 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. Excluding fixed-rate rebates which are not calculated on the energy consumed.

• Aid amounts: Financial aid is granted to beneficiaries who have incurred a total increase in electricity bills issued for an amount exceeding EUR 30 and cannot exceed EUR 600 per beneficiary. The amount of the financial aid is tax-free, inalienable and unattachable in the hands of the State or third parties.

• Where to credit: The amount of the financial support is credited to the beneficiary's bank account indicated in the application.

• False evidence: In the event that, during the control of the applicant by the tax administration or other competent control body, it is found that false or inaccurate information has been submitted in the application for financial assistance, double the amount of the assistance granted is immediately due.

What will happen to the rented house they study in

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 asked to confirm the information on the 2021 tax year income tax return regarding rent paid for the residence of children of the family who are studying.

2. If the child's rented residence has changed between 1 December 2021 and 1 May 2022, the beneficiary must 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 leased residence is a declaration to the tax authority and is pre-filled in the details of the tax return for the 2022 tax year.

Additional information

The compensation will be paid to all individuals with a net family income of 2020 up to 45,000 euros, 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 the 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 have a common clock (e.g. two-family houses), the subsidy will be given to the beneficiary whose VAT number appears on the electricity bill. In case 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, and is not subject to any deduction, fee or levy, including the special solidarity levy, it shall not be subject to or set off against debts to the tax authorities and the State in general, municipalities, regions, social security funds and credit institutions and shall not be included in the income thresholds for the payment of any social security or welfare benefit.

How to submit the application

To apply, beneficiaries must:

• Enter the online platform with their Taxisnet passwords.

• Confirm or update the details of the main dwelling, the electricity meter and the co-ownership rate.

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

• Enter their bank account number (IBAN)

• Certify the accuracy of the data and finalise the submission of the application.

Beneficiaries will not enter the data on electricity consumption-based bills that will be transmitted to the platform by electricity suppliers and electricity managers.