Suppliers set to receive initial €165m sum for subsidized bills

Electricity suppliers are set to receive a deposit amount totaling 165 million euros from the state’s Energy Transition Fund as compensation for their reduced revenues to result from subsidized electricity bills offered to consumers by the government for September and October as part of the overall effort to tackle the effects of the ongoing energy crisis.

Suppliers also stand to receive a 228 million-euro sum for electricity subsidies concerning November, while a 235.5 million euro-euro sum for December subsidies will be offered in 2022.

These sums will be divided up for electricity suppliers based on their market shares on August 31, 2021. Some corrections and revisions could be needed in 2022.

The subsidy plan announced by the government concerns a total of 7.6 million low-voltage household and business electricity connections.