The Minister of Environment and Energy, Theodoros Skylakakis, is currently specifying measures to support electricity consumers, under the weight of the large recent price increases.
In the light of the recent economic downturns, the government has been working on a number of measures to reduce the price of electricity.
The subsidy will be financed through a special levy on the excess profits made in July and August by gas-fired electricity producers.
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What happened after July 11 that caused increases? As explained by Mr. Skylakakis, we had a combination of a prolonged heatwave, an unexpected heatwave from Ukraine to the Balkans, increased demand from Ukraine due to the war, and
What happened after July 11 that caused increases? As explained by Mr. Skylakakis, we had a combination of a prolonged heatwave, an unexpected heatwave stretching from Ukraine to the Balkans, increased demand from Ukraine due to the war, and unmet demand from Hungary and Romania towards the West. This phenomenon is expected to last a few more days. Judging by the futures, we will not see the continuation of this phenomenon in August.
What are the consequences? We have a price surge around 180 during the day and around 600 at night when photovoltaics are not operating.
What will happen? It is not possible to activate an emergency mechanism due to the European conditions that have been set, but the government cannot remain idle, especially when there are so-called “windfall profits.”
For this reason, we decided to react with the following measures:
An emergency reinstatement of the levy on natural gas production. It will be imposed temporarily, at least for July and August. The exact amount of the tax will be announced later.
A subsidy for households for August. We will announce it in the coming days, around the end of July, to have a complete picture.
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