The Greek Government has revised its extraordinary tax plan for gas-fired electricity producers due to improved wholesale electricity market conditions and greater stability at energy exchanges. As a result, the funds required for electricity subsidies for consumers have decreased for August.
The extraordinary tax, which is designed to help fund electricity subsidies and cap variable tariffs at approximately 15 eurocents/kWh, will now be set at 10 euros/MWh of natural gas consumed by gas-fired power plants. Originally planned for July, the tax will be implemented in August instead. The revised legislation grants the Government the authority to impose this tax for up to three months if needed.
The Government expects to raise around 30 million euros from this tax in August, which will cover the estimated 20 to 25 million euros required to subsidize variable tariffs for the month.
