Revised subsidies, aiming for lower power usage, in October

A revised subsidy package for electricity, which has been shaped by the energy ministry and will be introduced in October, will inversely relate subsidies offered with electricity usage levels, while bonus subsidies will be offered to households and businesses that manage to reduce electricity consumption by 10 percent compared to levels registered a year earlier.

Until now, flat-rate electricity subsidies have been offered to all consumers regardless of consumption levels.

The new plan’s objective is to offer consumers incentive for reduced electricity usage during what is expected to be a challenging winter. Natural gas, currently the highest-cost energy source, is responsible for roughly 40 percent of electricity generation in Greece.

The new electricity subsidy plan’s implementation in October was confirmed by Prime Minister Kyriakos Mitsotakis at the ongoing Thessaloniki International Fair.