Greek electricity cost Europe’s third highest, despite huge subsidies

The cost of electricity for Greek households is currently ranked third-highest in Europe, following Portugal and Norway, despite the government’s enormous subsidy support packages, if taking into account the subdued purchasing power of local consumers, a study by ACER, Europe’s Agency for the Cooperation of Energy Regulators, has shown.

The ACER ranking takes into account taxes, surcharges and subsidies. The cost of electricity in Greece has consistently ranked highly in Europe over the years, given the country’s relatively lower income levels.

The enormous amount of electricity subsidies offered to consumers by the Greek government over recent months has not stopped the country’s rise in the rankings. In 2020, electricity cost for households in Greece was Europe’s fifth-highest, after factoring in income levels, but has now risen to third place.

Electricity subsidies offered in Greece are Europe’s highest, as a percentage of GDP, reaching 3.5 percent, the ACER study showed.