New enhanced electricity subsidy in November

By Harry Floudopoulos

A new increase in the amount of subsidy for electricity bills received by all consumers, the government decides in order to cover the new price increases that have occurred in the wholesale price of electricity. This was revealed yesterday by the Minister of Environment and Energy K. Skrekas, emphasizing that in the coming days an increase in the subsidy on electricity bills will be announced.

According to information, the new increased subsidy will concern the month of November as the wholesale price of electricity registers a new significant increase that can not be covered by the subsidy that has already been announced and is in force. “When we did the calculations in August, the wholesale price was around 100 euros per megawatt hour. Now it has exceeded 200 euros. In cooperation with the Ministry of Finance, we will decide in the coming days to increase the subsidy on household electricity bills. The aid will be horizontal to all households, for all consumers “stressed Mr. Skrekas.

Finally, as for the source of funding for the increased subsidy, competent sources state that it will come from the revenues of the CO2 emission rights auctions. According to a recent ministerial decision signed late last month, the percentage of revenues from CO2 emissions auctions directed to the special RES account fell from 60% to 38%. According to the same JMC, 40.86% of the revenues from the auctions are directed to the Energy Transition Fund that has been set up to strengthen the electricity and gas bills. If the existing distribution is not sufficient then there will be a new increase in the percentage of revenue directed to the Energy Transition Fund, with a corresponding reduction in the percentage directed to ELAPE.