Property upper limit proposal for subsidized electricity too low

The energy ministry is considering increasing a property value upper limit prerequisite for households wishing to qualify for the Social Residential Tariff (KOT) program, offering subsidies for lower-cost electricity.

A property value upper limit of 150,000 euros proposed by energy minister Giorgos Stathakis in parliament last week is now regarded as being too low and, as a result, could be raised to a level of between 190,000 and 200,000 euros, energypress sources have informed.

This elevated upper limit criterion would enable more households to qualify for the KOT program.

Calculations made at the energy ministry have indicated that implementing the minister’s initial proposal would eliminate 20 percent, or 340,000, of prospective new beneficiaries.

According to the existing KOT program criteria, households, besides the property ownership factor, must also meet an income criterion requiring annual family incomes to not exceed upper limits that range between 12,000 euros and 23,500 euros, depending on the number of children.

Individuals who have been unemployed for periods of at least six months and whose annual family incomes do not exceed 12,000 euros are also entitled to electricity subsidies. So, too, are handicapped persons whose family incomes total no more than 23,500 euros per year. The KOT program is also available for persons dependent on domestic use of medical equipment if their family incomes do not exceed 30,000 euros per year.