This December, Greece’s Energy Ministry announced a minimal electricity bill subsidy of 1.5 cents per kWh, aimed at easing the impact of rising wholesale electricity prices. The subsidy will benefit nine out of ten households in the country.
According to the Ministry, the subsidy will apply as follows:
- Households consuming up to 500 kWh per month will receive a subsidy of 1.5 cents per kWh. This applies to 90% of Greek households with variable electricity tariffs.
- Vulnerable Household Tariff beneficiaries will receive a larger subsidy of 3.5 cents per kWh for their total electricity consumption.
The total cost of the December subsidy program is 20.5 million euros, funded by the Energy Transition Fund.
The Ministry also noted that the weighted average price of the green tariff, covering over 80% of household electricity consumption from the three largest suppliers in the low-voltage market, is 14.17 cents per kWh, after the subsidy.
Looking ahead, the Ministry expects household electricity prices in 2024 to be lower than in 2023, despite the rise in wholesale prices this month, which have largely been absorbed by major suppliers such as Public Power Corporation (PPC) and Protergia.
