Greece, package of subsidies for energy - The government comes to the aid of families to cope with the increase in costs
Greece announced a new round of energy bill subsidies to help households facing rising electricity costs in December.
Greece spent nearly 10 billion euros in subsidies to households and businesses in the period 2021-2023, the largest amount an EU country has spent on the energy sector as a percentage of economic output.
Wholesale electricity prices in Europe climbed to their highest levels in more than a year during November. Greece, whose economy is still reeling from the lingering effects of the 2009-2018 debt crisis, had offered no subsidies this year until the summer, when wholesale energy prices rose again after hot weather curbed output.
With costs rising further in the coming winter months, the energy ministry announced a subsidy of 1.5 cents per kilowatt hour for household consumption up to 500 kilowatt hours for December.
The aid will be provided to around 90% of Greece's domestic consumers with variable energy contracts, at a total cost of 20.5 million euros, the ministry said in a statement.
Greek Prime Minister Kyriakos Mitsotakis has blamed the European energy market for price inconsistencies, which saw customers in southeastern Europe pay far more than other EU countries.
In a letter to the European Commission in September, he urged the EU to create a bloc-wide energy regulator with powers to inspect energy markets.
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