ATHENS – The subsidy on household electricity tariffs for February, for 90% of consumption (up to 500 KWh per month), was set at 4 cents per kilowatt hour (40 euros per megawatt hour) according to the announcements made on Tuesday morning by the Minister of Environment and Energy, Kostas Skrekas. For higher consumptions, the subsidy is linked to energy savings.

As the minister pointed out, this is a period when natural gas prices are drastically falling globally, which is also a result of the adoption of the European mechanism for a cap on natural gas prices.

“This development did not come about by chance, nor unaided. I recall that since March 2022, Prime Minister Kyriakos Mitsotakis was the first to propose the imposition of a realistic cap on natural gas prices to limit speculation in international markets,” he stressed. He added that the crisis has eased but is not over and that the government has pledged to stand by consumers as long as the volatility lasts.