Government measures to to counter rising electricity bills

The details of the new measures were outlined by Finance Minister Christos Staikouras, Environment and Energy Minister Kostas Skrekas, Deputy Finance Minister Theodoros Skilakakis, General Secretary for Fiscal Policy Thanos Petralias and the General Secretary for Energy Alexandra Sdoukou.

- Significant increase in subsidies for electricity in May and June at an expected cost of €900m
- 60% rebate on price increases for all electricity bills from December 2021 to May 2022. The rebates will be paid into consumers' bank accounts via IBAN. The expected cost is €280m
- Petrol prices will continue to be subsidised in May and June. The expected cost is €45m
- From July, electricity prices will be subsidised via a special mechanism so that average prices remain stable.
- There will be generous subsidies for households, small to medium businesses and agricultural businesses. Expected cost €800m

Some examples for the month of May

- Household bill for 300 kWh a month. Without the subsidy - €100, with the subsidy - €43.50. A reduction of 56.5%.

- Household bill for 400 kWh a month. Without the subsidy - €129.20, with the subsidy - €63.60. A reduction of 51%.

- For consumption of 600 kWh: Without the subsidy - €193.80, with the subsidy - €108.20. A reduction of 44%.