Skrekas: Electricity subsidy for July set at €200 per megawatt hour

Significantly increased subsidies in the cost of electricity for July announced by the Minister of Environment and Energy Kostas Skrekas, with an increase in aid per kilowatt-hour, but also with the abolition of consumption limits on subsidies.

Referring to the ”front” of energy security, Mr.Skrekas also announced that the new floating LNG tank at the Revithusa will be commissioned at the end of July, while in September the new lignite unit of PPC Ptolemaida 5 will be added to the production capacity.

In particular, the subsidies for July are as follows:

-Household consumption: horizontal coverage for all without exceptions and income criteria and no limits on monthly consumption. The subsidy is 200 euro per megawatt-hour, a figure that absorbs up to 84% of the increase and 240 euro for Social Household Tariff beneficiaries for whom up to 100% of the increase is absorbed.

-For professional tariffs with a supply capacity of up to 35 kva (bakeries, commercial shops, confectioneries, mini-markets, kiosks, etc.) the subsidy is 192 euros per megawatt-hour.

-For agricultural, 213 euros per megawatt-hour.

-For the other professional and industrial sectors with a supply capacity of more than 35 kva, a subsidy of 148 euros per megawatt hour.

-For commercial and industrial gas consumption, 30 euros per megawatt hour.

On this basis, the total subsidy envelope for July rises to €722 million, an increase of €300 million compared to June. In total, since September when the subsidies on energy bills started, the amount spent exceeds €5 billion and is, as Mr. Skrekas pointed out, the largest in the EU in relation to GDP and the potential of the economy.

The Minister reminded that from next month the indexation clause is suspended, consumers will know the suppliers' tariffs in time and will be able to change supplier without restrictions. Finally, with regard to energy sufficiency, he reiterated that the government has prepared a comprehensive plan that satisfactorily addresses even the possibility of interruption of the flow of Russian gas. The measures considered at yesterday's relevant meeting at the Ministry of Foreign Affairs include securing shipments of liquefied natural gas, securing lignite and water reserves at hydroelectric power plants, and the operation of diesel gas plants.

Until 15 July for the payment of Power Pass amounts

Earlier, Finance Minister Christos Staikouras, speaking on Open TV, said that by July 15, the amounts resulting from the Power Pass for compensation for additional charges on electricity up to 600 euros will be paid.

At the same time the minister left open the possibility of new interventions from September, in order to address the accuracy. He noted that the fiscal picture is positive and the first data show that new fiscal space can be created.

As he stressed, «we have found fiscal space and we give this «cushion» back to citizens in subsidies on fuel and energy. Now a new space is created for the interventions that will be made from September, »he stressed.

At the same time, he noted that although no one knows the course of the increases in gas and fuel he estimates that they will remain at high levels so the 6 billion euros must be more.