The Ministry of Environment and Energy estimates that household electricity bill subsidies will be reduced to €10-15 per megawatt-hour in August due to a drop in wholesale electricity prices.
Wholesale prices have decreased significantly, resulting in lower government spending on subsidies. The final amount for “green” electricity rates will be announced on August 2, following the providers’ retail price announcements.
Financed through a tax on natural gas electricity generation, Prime Minister Kyriakos Mitsotakis emphasized the government’s intervention to benefit consumers by addressing market distortions.
The aim is to combat rising inflation and potentially drive prices down in key consumer goods categories like food.