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ATHENS: Greece said it will extend power bill subsidies for households and farmers in November, despite a fall in energy prices from last year, as conflict in the Middle East created upside risks.
The European Union member has spent more than 10 billion euros ($10.64 billion) since the middle of 2021, mainly in subsidising electricity and gas bills, to support households, businesses and farmers.
Greece trimmed subsidies this year as electricity prices fell, but many families and businesses still struggled to pay their bills amid stubborn inflation.
The energy ministry said in a statement on Tuesday that about 90% of Greek households and farmers will get a power bill subsidy of 25 euros per megawatt hour in November.
The subsidy for vulnerable families will be 60 euros per megawatt hour, the ministry said, adding that the total cost for the subsidies will total 32 million euros next month.
The Greek government has earmarked about 1 billion euros this year for power bill subsidies, a draft 2024 budget shows.
($1 = 0.9402 euros)
The European Union member has spent more than 10 billion euros ($10.64 billion) since the middle of 2021, mainly in subsidising electricity and gas bills, to support households, businesses and farmers.
Greece trimmed subsidies this year as electricity prices fell, but many families and businesses still struggled to pay their bills amid stubborn inflation.
The energy ministry said in a statement on Tuesday that about 90% of Greek households and farmers will get a power bill subsidy of 25 euros per megawatt hour in November.
The subsidy for vulnerable families will be 60 euros per megawatt hour, the ministry said, adding that the total cost for the subsidies will total 32 million euros next month.
The Greek government has earmarked about 1 billion euros this year for power bill subsidies, a draft 2024 budget shows.
($1 = 0.9402 euros)
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