Two cash-flow relief measures for electricity suppliers, one offering installment-based payments of regulated charges, the other, reduced guarantee costs for the right to operate on non-interconnected islands, are currently being prepared by the energy ministry.
Electricity suppliers collecting reduced customer payments will be able to service about 30 percent of their regulated charges through interest-free installments over a limited period of time.
Also, the level of guarantees provided by electricity suppliers to distribution network operator DEDDIE/HEDNO for the right to operate on 29 non-interconnected islands will be reduced for the six-month period running from April to September.
In other measures, the government yesterday announced a support framework for trade and distribution companies operating in the electricity and gas markets. Employees in these sectors will each be entitled to 800-euro allowances covering a 45-day period if their job contracts have been temporarily suspended. In addition, tax debt payments for these employees will be suspended for four months.
The establishment of a support fund for energy companies is also being examined.