Greece to subsidise new fridges, air conditioners to cut energy bill

Greece will offer households subsidies to help them replace their old fridges and air conditioners and cut down on soaring power bills, the government said on Monday (Jun 20).

Like many other EU countries, Greece has been gripped by soaring energy costs, a trend which has been exacerbated following Russia's invasion of Ukraine and its cutting of gas flows to several countries in Europe.

Since last year, the country has taken several measures at a total cost of about €7 billion, including subsidies, to help households pay their electricity and pump fuel bills.

Greek households will be able to buy up to three new, more energy efficient appliances - air conditioners, refrigerators or freezers - and get a subsidy of between 30 per cent and 50 per cent of the cost for each appliance, Energy Minister Kostas Skrekas said in televised statements.

"Under the programme we're announcing today, we're giving hundreds of thousands of households the chance to reduce considerably - up to 40 per cent - their power consumption," he said.

Greece will be able to save power equal to that consumed by a city of 100,000 people a year and save €40 million in gas and oil imports annually, he said.

The initiative is expected to cost €150 million and will be financed by EU funds.