The de-escalation of its price brings a significant decompression to the public treasury. natural gas and formation nominal electricity tariffs reported by providers for February are very close to pre-crisis levels and 60% lower than in January. scissor hole between it Pay Per Clickwhich is also the base rate for calculation subsidiesand the target price of 15-17 cents/kWh for household assistance has been significantly reduced and subsidies adjusted accordingly at a very low level and with a new architecture, excluding large consumption and industry.

Minister for the Environment and Energy Kostas Skrekas A subsidy of 4 cents per kilowatt-hour for the first 500 kilowatt-hours and zero subsidies for industry is expected to be announced next Monday, as the nominal price invoices formed below the levels of 23 euros, which were the January subsidy. The second and third household consumption scales, i.e. 500-1000 kilowatt-hours and more than 1000, will only receive a subsidy if they achieve a 15 percent savings. It, According to reportsa baseline scenario developed jointly by the competent ministries and which, in terms of household consumption, includes the new model proposed by the Commission for targeted subsidies to vulnerable consumers and related to saving for higher incomes. However, Foreign Ministry sources say that subsidies in the coming months will again be determined based on price developments in wholesale market and supplier accounts.

After the fall in wholesale electricity prices, the cost of the February subsidy is capped at about 100 million euros.

However, currently for February the total cost subsidies it is expected to be capped at around 100 million euros, from 840 million euros in January and a very high 1.9 billion euros last September. For residential tariffs, the total budget for February will be between 50 and 60 million euros, compared to 470 million euros in January. The government has taken into account the KPP tariff, which is 19.9 cents for the first 500 kilowatt-hours and 21.1 cents for more than 500 kilowatt-hours. In 2022, a total of 8 billion euros were allocated from TEM and the state budget for subsidizing electricity.

Tariffs for March and, consequently, subsidies are also expected to be formed at low levels, regardless of how natural gas prices fluctuate in the Dutch TTF. This is because the significant de-escalation in the gas price on the Dutch TTF hub in January (more than 50%) was not reflected in the February tariffs, as local companies price gas based on the previous month’s TTF average price. However, the continued decline in the price of natural gas (below €54/MWh yesterday) to levels lower than last February, before the start of the Russian invasion of Ukraine, also portends favorable developments on the electricity price front. despite the effects of falling temperatures and increasing demand. However, the mild winter until recently and high prices have led to a significant reduction in consumption. Electricity demand fell for the sixth month in a row in December, recording the biggest drop in 2022, down 13.69%, according to ADMIE data.