The measures being considered by the government to deal with the energy crisis

The government is launching five measures, among other things, in order to relieve households and businesses from the large increases in electricity and gas prices.

Prime Minister Kyriakos Mitsotakis will announce it tomorrow, Saturday, during the budget debate.

The five measures

According to information, these measures are:

1. Increase the subsidy on electricity bills for households and small businesses. It will concern the consumptions of December. The possibility is open that the adjustment will be valid for November as well. Today the benefit they get is at 39 euros for consumption up to 300 Kilowatt hours per month. Scenarios want the ministry to increase the aid so that the benefit is greater. Based on the amount of the grant that will be determined by the leadership of the ministry, the benefit is expected to range between 48 and 69 euros.

2. The discount that DEPA Commerce will give to the wholesale prices of natural gas that it sells to energy providers increases. This discount today amounts to 16%. And it will concern the consumptions of October and November. It will be higher for the month of December. The plan so far sees it being provided for the first quarter of the new year, ie in January, February and March. This discount will be passed on to the providers who in turn will pass it on to the consumers.

3. Creation of a permanent automatic mechanism that will be activated when the wholesale current price exceeds a limit and above. This will subsidize electricity bills for vulnerable households. The terms and conditions will be determined. The mechanism will be ready in the first quarter of the new year.

4. An amendment recently passed from 1 November 2021 to 31 March 2022 suspends the payment of electricity Utility Charges (SGIs) for agricultural enterprises with the following key consumption characteristics:

· Medium Voltage for agricultural use.

· Medium Voltage for agricultural use, for three-phase power supplies greater than or equal to 85 kVA.

The legislation also stipulates that the payment of SGI charges is suspended for companies with the following consumption characteristics:

· Medium Voltage Industrial Use > 13GWh.

· Medium Voltage Industrial Use.

· General purpose Medium Voltage.

· Industrial voltage Medium Voltage, for three-phase power supplies greater than or equal to 85 kVA.

5. The payment of energy and capacity distribution bills by domestic gas consumers during the months of November and December is suspended, according to an amendment of the Ministry of Environment and Energy, which was recently voted.

The above measures are taken after the record prices recorded in the wholesale electricity market (326.94 euros per megawatt hour for today) but also in the European gas market (132 to 135 euros per megawatt hour).