The electricity subsidies for November will absorb up to 90 per cent of the current cost increases, according to a recent announcement by the minister for the Environment and Energy Kostas Skrekas, reported on Tovima.gr.

The subsidies will apply to both primary and secondary residences and are independent of income and energy supplier.

At the same time, electricity suppliers have announced significantly lower prices for November, with reductions of up to 37 per cent compared with October.

In announcing the subsidies, the minister issued a recommendation that people should refrain from using energy-intensive appliances during the peak hours of 6.00 pm to 9.00 pm. As before there will be three levels of subsidy:

At the first level, households consuming up to about 500 KWh per month will receive a subsidy of 238 euros. According to the ministry this category, which receives the largest subsidy, accounts for 90 per cent of households.

The second level includes households with a monthly consumption of 501 to 1,000 KWh, who will receive a subsidy of 188 euros. In addition, those achieving a reduction in consumption of 15 per cent over the same period last year will receive an additional 50 euros’ reduction on their bills.

The third level, which accounts for 2 per cent of households, comprises those consuming more than 1,000 KWh per month. They will receive a subsidy of 50 euros per megawatt/hour (MWh). This level will also receive an additional 50 euros per MWh if they show 15 per cent in energy savings over the previous year.

Households enrolled in the Social Residential Tariff will be relieved of 100 per cent of the increase and will receive 286 euros per MWh.

Commercial tariffs

For non-residential consumers with supplies of up to 35 kVA, the subsidy for the first 2,000 KWh in November is 200 euros per MWh. Those consuming more than 2,000 KWh monthly will receive a subsidy of 50 euros per MWh for the extra amount.

Farmers will receive a flat-rate subsidy of 238 euros per MWh for the month.

Suppliers reduce prices

Most of the main energy suppliers are showing substantial reductions in the unit cost of electricity compared with the month of October. They are DEH -33.3%, Protergia -31.5%, Elpedison -35.6%, IRON -37.1%, Watt+Volt -31%, Eliv -35%.