Subsidy of 1.5 cents per kilowatt hour for electricity tariffs in April

The minimum rate charged for electricity in April will fall below 9 cents per kilowatt hour based on the subsidies for next month, Environment and Energy Minister Kostas Skrekas announced on Friday.

The electricity consumption subsidy for households in April (for monthly consumption of up to 500 kilowatt-hours) will be 1.5 cents per kilowatt-hour. Electricity tariffs announced by providers earlier this week start at 10.4 cents, so that the minimum rate will drop to 8.9 cents per kilowatt-hour. Ninety percent of households belong to this consumption category (up to 500 kilowatt hours). The subsidy for the Social Domestic Tariff was set at 5.4 cents per kilowatt hour and the subsidy for farmers at 1.5 cents.

The amount to be paid in subsidies in April, financed mainly by the taxation of energy companies and the auctions of carbon dioxide emission rights, is at 24.4 million euros, while in the last 20 months, more than 9 billion euros have been allocated in total.

“Electricity prices are on a path of significant decline due to the drop in international natural gas prices. Many providers have announced prices for April that approach pre-energy crisis levels. In April, consumers will see bills that are even lower compared to March,” said the Minister of Environment and Energy.

Skrekas emphasised that the only solution for a permanent reduction in energy prices is the green transition, adding that two new subsidised programmes will be announced next month.