The Greek government wants to absorb the rise in electricity and gas bills by up to 90 percent in October. According to Energy Minister Kostas Skrekas, the support can reach up to 436 euros per megawatt hour and covers around 90 percent of Greek households.
People are also to be encouraged to save energy: those who use 15 percent less energy in October than in the previous year will receive 50 euros more per megawatt hour (1000 kilowatt hours) consumed.
1.1 billion euros have been made available for the measure, of which only 100 million euros came from the budget, said Skrekas. The rest is financed by excess taxation by energy companies.
Greece had already introduced this in May: Until further notice, energy companies must pay 90 percent tax on all profits that are above the average values of the previous year.
