Government considering price ceiling on retail electricity

The government is considering to impose a price ceiling on retail electricity, but decisions may depend on the outcome of the next EU summit, scheduled for May 30 and 31.

Even so, the Greek government will be prepared to act alone if EU leaders fail to reach decisions concerning the energy market at the next summit, Prime Minister Kyriakos Mitsotakis pointed at last week’s Delphi Economic Forum.

This would entail further support packages to help consumers meet sharply higher energy costs in the ongoing energy crisis, showing no signs of ending.

It is believed that a sum of between 2 and 4 billion euros will be needed to cover energy subsidies in Greece over the next 12 months. Government sources have yet to specify, but have already described the amount to be required as “considerable”.

Some of the funds could be provided through the Recovery and Resilience Facility.