Minister of Environment and Energy Kostas Skrekas announced that the state would allocate 1.9 billion euros to subsidise the electricity bills of households and businesses for September.
In the briefing, the minister outlined the three axes on which the government is moving which include; firstly, the new regulatory measures, like the mechanism for recovering excess revenues from electricity generation; secondly, the ambitious programme of infrastructure and actions , such as the new floating tank in Revythoussa; and thirdly, the Energy Transition Fund, in order to take financial support measures for all households and professionals on a monthly basis.
Regarding the September subsidy to households, 94% of the increase will be absorbed by the state via a subsidy reaching 639 euros/MWh. The average monthly aid for the MWh amounts to 677 euros in September, absorbing almost 100% of the increase. The total amount of the subsidy for households in September amounts to 748 million euros.
Regarding the subsidy on non-household tariffs, for small and medium-sized enterprises with a power supply of up to 35kVA and for all bakeries regardless of the power supply, the subsidy is set for September at 604 euros/MWh absorbing 89% of the increase. This measure concerns 1,250,000 business services such as restaurants, shops, kiosks, convenience stores, hairdressers, offices, bakeries, etc., and is estimated at 401 million euros for September. For all other commercial and industrial supplies with power > 35kVA the subsidy amounts to 342 euros/MWh. For the Agricultural Tariff, the subsidy is set at 639 euros/MWh, absorbing 90% of the increase.
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