Greek Environment and Energy Minister Stavros Papastavrou outlined on Tuesday morning two government measures set to take effect from Wednesday to help households cope with the cost of heating oil.

Papastavrou stressed that the measures would be targeted to help households deal with current developments without jeopardising fiscal stability, which he said must be protected amid the global crisis. He explained that greater emphasis would be placed on areas experiencing the lowest temperatures and the greatest number of cold days.

“Measured, targeted and specific,” he said, summing up the government’s approach.

The minister said the measures would operate on two levels. The first would involve a significant, across-the-board increase in the heating allowance compared with last year, rather than a tiered increase. The second would be a subsidy applied directly at the pump, aimed at keeping the price of heating oil below €1.75 per litre, the level at which it stood at the end of April.

Papastavrou clarified that the second measure would cover the period from 15 to 30 October, following a similar approach to the subsidy previously introduced for diesel.

Progress on the electricity interconnection with Cyprus

Papastavrou also discussed progress on major energy interconnection projects, placing particular emphasis on the electricity link involving Cyprus.

He explained that the entry of French infrastructure investment company Meridiam into the project’s share capital in August, together with subsequent developments, had created the conditions needed to advance its implementation. Meridiam is a highly specialised company that has previously completed an electricity interconnection between the United Kingdom and Germany.

“This is a complex project that will end Cyprus’s energy isolation and forms part of the wider strategy for the Eastern Mediterranean. Meridiam’s involvement confirms the project’s viability,” he said.

Regarding the timetable, Papastavrou said the project was moving forward and that the coming weeks would be decisive. He clarified, however, that the next steps would depend on the company responsible for implementing the project.

Concluding, the minister reiterated that supporting households, managing public resources responsibly and advancing strategic energy projects remained central priorities of the Greek government’s energy policy.