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10 billion measures in 2022 to overcome the energy crisis

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10 billion measures in 2022 to overcome the energy crisis

The cost of events vigorous as well as sanitary crisis in 2022 to support households, businesses and government agencies. Fiscal costs for him budget amounted to 4.8 billion euros, and the rest comes from the income of the Energy Transition Fund. In particular, the energy crisis measures implemented during 2022 include subsidizing residential and commercial tariffs for electricity and natural gas, retroactively returning 60% of the increase in electricity to household tariffs, and a permanent reduction in value added tax. Animal Feed and Fertilizer Tax (VAT), Household Fuel Reimbursement Prepaid Card, Diesel Subsidy, etc., Excise Tax Refund for Farmers as their Main Occupation, and Animal Breeders Subsidy for Increased Feed Costs .

The main activities related to overcoming the energy crisis:

• Subsidies for electricity and natural gas consumption by households and businesses (total budget cost $8.1 billion).

• Return of 60% increase in the cost of electricity at household tariffs (fiscal value of 296 million).

Subsidies for electricity and natural gas amounted to $8.1 billion.

• Increase in heating allowance for the winter season 2022-2023. up to EUR 300 million, of which EUR 150 million is for FY 2022 and the remaining EUR 150 million for FY 2023, as well as a subsidy for fuel oil and transport.

• Introduction of a prepaid card for the purchase of motor fuel (fuel subscription) for six months, from April 2022 to September 2022 (budget cost 300 million).

• Subsidies for farmers and livestock breeders in connection with the increase in the cost of fertilizers and animal feed, respectively, the reduction of VAT on animal feed and fertilizer and the return of the tax on fuel to farmers (total budget expenditures 212 million).

• Financial support for vulnerable households (poorly retired, uninsured OPECA pensioners, people with disabilities, etc.) in April 2022 and December 2022 with a total budgetary cost of €816 million.

In FY 2023, an additional $1 billion is planned to subsidize energy bills to cover the costs of implementing measures to address the energy crisis, in addition to loans provided for the heating allowance, depending on the development of energy prices , as well as in connection with the increased expenditures of state bodies on energy.

Author: Prokopis Hadjinikolou

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