V. Korkidis: Government interventions will bring the necessary correction in the cost of electricity

“The four new national interventions are necessary and drastic,” said the president of the Piraeus Chamber of Commerce and Industry and the Attica Regional Chamber Council, Vassilis Korkidis, regarding the announcements of the new measures by Prime Minister Kyriakos Mitsotakis.

Specifically, Mr. Korkidis stated:

“The announcements of the Prime Minister with the four new interventions of the government at the national level to deal with the electricity bills, will bring the necessary correction in the cost of electricity for households and businesses. The drastic package of measures can only find us in agreement, as energy costs ‘plague’ the EU economy, threatening to absorb the last chance of business, but also to ‘vent’ the purchasing power of households. confirms once again that the government has the reflexes to make good use of the budget space at the right time, but ‘relying’ on energy sources if joint decisions had been taken in time at central European level.

Given the opportunity, EBEP points out that we must change the policy towards RES, if we want the processing of all levels, businesses and households, not to put ‘deep hand in the pocket’ to repay the cost of electricity, which feedback on market price increases. In our country, with sunshine, with island groups, winds and ripples can be used to generate electricity. First of all, however, the ‘culture’ towards RES must change, since in Greece only 35% of the electricity consumed in 2021 was produced by RES and can not be considered satisfactory. Now is the right time to introduce incentives and enable energy-intensive companies to invest in RES with a vehicle ‘Net-metering’ or ‘self-production and self-consumption’, in order to cover part or all of the energy they consume , making the amortization of the investment doubly beneficial, as the cheap energy would affect the final cost of production, and therefore the sale of products, while it would also create a new business dynamic in the sector, while creating new jobs.

The new national program to address energy costs will be implemented from June 1, continuing subsidies for citizens’ electricity bills. The state returns to the individual bank account of each first home provision, 60% of all additional charges, retroactively from December to May, with a limit of 600 euros, and will apply to everyone with an annual income of up to 45,000 euros. At the same time, for May and June, any increase in consumption beyond 300 KWh will be covered by 50%. Based on the final finding of the independent Energy Regulatory Authority, the additional conjunctural revenues of the energy companies will be taxed with a special fee of 90%. The Greek government, regardless of EU decisions, has been launching a system since July that disconnects international gas increases from electricity bills for up to a year. Dual state intervention, both in the wholesale and retail energy market, sets an indirect ceiling, without creating competition problems and effectively abolishes the adjustment clause. The cost of the four interventions is estimated at around 5 billion euros, which will be financed from the state budget, but also from the taxation of the companies’ super profits “.

Source: Capital

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