Electricity, gas supply company employees valid for allowance

Electricity and gas supply company employees are being added the government’s long list of enterprises whose staff members are each entitled to state allowances of 800 euros as a result of the coronavirus pandemic’s ramifications.

Furthermore, a government decision also making electricity supply companies eligible for a guarantees mechanism, established as a protective umbrella by the development ministry, is also expected. This measure could be announced today.

Through this double move, the government intends to protect both energy supply companies and their employees from a liquidity crisis now threatening the sector. Its tightening liquidity is expected to worsen as a result of an imminent loss of tourism-related earnings.

April will be crucial month as it will reveal the size of a new wave of electricity bill debtors, a government official told energypress.

The government’s allowance program now also being made available to the energy sector will offer working capital worth up to 3 billion euros. The Greek State will cover 80 percent of this funding program while the other 20 percent will be provided by banks.