Minister of Environment and Energy Thodoris Skilakakis announced a subsidy for electricity bills in August to reduce significant price increases. The subsidy will be funded by an additional tax on unexpected profits earned by electricity producers from natural gas in July and August.
Those eligible include individuals with green and yellow bills for primary or secondary residence. The consumption limit is set at 500 kilowatt-hours, which, according to the Ministry of Environment, covers 90% of households each month.
With the electricity bill subsidy, costs are expected to stay around the same level as in previous months.
According to reports from “Kathimerini,” electricity prices above 15 cents per kilowatt-hour are likely to receive subsidies. This means consumers will pay a maximum of 15 cents per kilowatt-hour. The government will cover the extra cost through the Energy Transition Fund and revenues from an exceptional levy on windfall profits.
According to the Minister of Environment, “EU member states can intervene, but these interventions are not obligatory,” while emphasizing that “the greater the integration of new renewable energy sources into the system, the prices will decline in the long term.”
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