Mitsotakis government to help Greek households pay electricity bills

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The Mitsotakis government has announced it will help Greek households meet the challenges of electricity price hikes, with the Environment and Energy Minister Kostas Skrekas set to announce today the level of state support for September electricity bills.

Subsidies to household and business consumers per megawatt (MW) are expected to be higher than those provided on electricity bills in August, to partially offset the rise in prices announced over the weekend by energy producers.

Earlier in the day, Finance Minister Christos Staikouras announced on Real FM radio that state assistance for households and businesses faced with high electricity bills will total 2 billion euros in September.

Tuesday's exchange price in Greece will be 616.38 euros per MW, with a maximum of 794.95 euros/MW. Domestic demand is met primarily by natural gas (46.2%), followed by lignite (22.7%), renewable sources (15.4%), hydropower (5.6%), and imports (3.9%). In comparison, Tuesday's price per MW is over 600 euros in Austria, Belgium, Bulgaria, Croatia, the Czech Republic, France, Germany, Great Britain, Hungary, Italy, Holland, Romania, Serbia, Slovakia, Slovenia, and Switzerland, where the highest price is registered (624 euros/MW). In addition, the price of natural gas on Holland's stock exchange shot up by 18% on Monday compared to Sunday, and is now over 290 euros/MW.