PM to announce measures softening energy crisis impact

Prime Minister Kyriakos Mitsotakis plans to announce a series of measures in Parliament tomorrow intended to soften the impact of the energy crisis’ increase in electricity and natural gas prices for households, businesses and the agricultural sector.

According to sources, subsides worth 39 euros per month for November and December for household and business electricity consumers will be increased to at least 48 euros per month for the current month, while this improved offer’s validity may also apply for November.

Discounts for natural gas consumers are also expected, regulated charges imposed on natural gas bills will be frozen, and public service compensation charges for industrial producers and farmers will also be frozen, sources have informed. In addition, low-income households will be offered long-term subsidy support for electricity consumption until 2030, the sources added.

The energy crisis’ effects on the livelihoods of consumers are harshening as winter progresses and Brussels and Moscow remain at a stalemate over the certification of Russia’s new Nord Stream 2 gas pipeline, running direct to Germany through the North Sea.

Energy prices are continuing along a record-breaking streak. Wholesale electricity prices for today in Greece will average 326.94 euros per MWh. The Dutch TTF gas index is also currently high, at levels of between 132 and 135 euros.

Any subsidy support offered by the Greek government until now has seemed liked a drop in the ocean as energy prices continue to swell.