Scenarios for increasing the budget to subsidise consumption electricity, is being examined by the economic staff, in the light of the new data created in the market by the continued increase in electricity prices on the Energy Exchange to record levels.
Information indicated that the subsidy amount will far exceed the €150 million that was the cost estimate when the measure was initially announced in early September, which provided for a subsidy of €30 per megawatt-hour for all low-voltage consumers (households and businesses).
In the meantime, the price of electricity in September on the Exchange was 134.73 euros per megawatt hour and today Thursday according to data from the pre-day market is 204.38 euros. Sources of funding for consumption subsidies are sought from auctions of emission allowances and the Renewable Energy Financing Account. The final decisions on subsidies for electricity bills and gas are expected within days with the adoption of the relevant ministerial decisions.
The government is also pushing for action at European level on energy prices. The Minister of Environment and Energy, Kostas Skrekas, reiterated yesterday at the EU Council of Environment Ministers the proposal for the creation of a fund to compensate for price increases, in particular for vulnerable households, using revenues from emissions auctions, while stressing the need to take structural measures to avoid a repeat of the appreciation.
