Electricity: Everything consumers need to know to receive compensation up to 600 euros

The countdown to the implementation of the support package for households and businesses, in the face of high electricity prices, has already begun and the government staff estimates that it will give a significant boost to the disposable income in an extremely difficult period.

The beginning will be with the compensation of up to 600 euros for the additional consumption from December 2021 until May 2022, will follow the increase of the subsidy for the months of May, June and will be completed with the introduction of the new calculation system. price of electricity for everyone from July, which will cover 80% to 90% of the additional costs.

On the other hand, there is intense concern in the government about the high fuel prices, which are in a constant rally, as a result of the increase in the international price of “black gold” which now reaches 120 dollars per barrel, as well as the slip of the euro against of the dollar, which is currently at 1.07, compared to 1.2 a year ago.

The Minister of Finance, Christos Staikouras, estimates that some additional interventions can be made and according to sources from the Ministry of Finance, there are two points that can bring a new intervention closer. The course of the revenues of May as well as the first days of June, as well as the tourist revenues for the period remaining until the end of June.

It is reminded that by the end of June the fuel pass program runs as well as the reduction by 15 cents per liter for diesel. So whatever is to be done, is timed from the beginning of July.

It should also be noted that the Commission in its recent evaluation report essentially announced a new package of EUR 800 million by September.

Depending on the evolution of the above factors, the final decisions will be made, with the scenarios for the scope of the intervention being more than one. From the continuation of the existing program, the same or significantly increased, as well as an extension of the subsidy to the pump that currently applies to diesel and gasoline.

What Power Pass holders need to know

The online platform for submitting applications from the beneficiaries, in order to receive the compensation up to 600 euros, from the additional electricity bills, will open on June 15 and the first payments will be made in the first days of July.

The compensation will eventually be received by more people, since the net family income will be calculated and not the taxable one.

The money is entitled to those who saw increased charges in their accounts, from December 2021 to May 2022. It should be noted that this period concerns the issuance of bills and not the period of consumption.

Let’s look at what electricity consumers need to know before the Power Pass platform opens:

1. The financial aid is granted to natural persons whose annual net family income after the deduction of taxes declared to the tax office in 2021 did not exceed 45,000 euros. This means that taxes are deducted from the total income and therefore the beneficiaries of the subsidy are also those who showed in the tax return of 2021 family incomes over 45,000 euros.

2. 60% of the increased electricity costs will be reimbursed for bills issued from December 1, 2021 to May 31, 2022 for charges not covered by discounts provided by the state and electricity suppliers. The allowance is given to those who had a total increase in electricity during the six months over 30 euros and the amount can not exceed 600 euros per consumer.

3. For the payment of the compensation will be taken into account the income of 2020 declared to the Tax Office in 2021. In any case a necessary condition for receiving the financial support is the beneficiary to have submitted a tax return for income of 2020 until May 1, 2022 .

4. Those who submit a tax return for the first time this year should hurry to submit it before submitting the application on the electronic platform for the granting of the allowance. For them, the net family income after tax deduction, obtained in 2021, will be taken into account.

5. For the subsidy of up to 600 euros of the electricity bills of the student residence, the taxpayers who declare the students as dependent members must submit this year’s tax return (income 2021) before submitting the application on the electronic platform, to have filled in table 6 of form E1 (student dormitory rent) the number of the electricity supply of the dormitory and to fill in the electronic application the indication concerning the dormitory and their own main residence.

6. For households that have a common clock (eg duplexes) the subsidy will be given to the beneficiary whose VAT number is indicated in the electricity bill. In case the TIN does not belong to any of the beneficiaries, the amount of the subsidy is distributed to the beneficiaries.

7. The amount of the grant is tax-free, inalienable and unsecured in the hands of the State or third parties, by way of derogation from any general and special provision, are not subject to any withholding, fee or contribution including the special solidarity contribution, is not bound and is not offset by debts to the tax administration and the State in general, the municipalities, the regions, the insurance funds, as well as the credit institutions and is not calculated in the income limits for the payment of any social or welfare benefit.

8. In order to submit the application, the beneficiaries must:

• Log in to the online platform with Taxisnet passwords.

• Confirm or update data on the main residence, electricity consumption meter and co-ownership rate.

• To correct any errors or omissions in the data for their main residence

• Enter their bank account number (IBAN)

• To certify the correctness of the data and to finalize the submission of the application.

Beneficiaries will not enter their electricity billing data which will be transmitted to the platform by the electricity suppliers and power managers.

Source: AMPE