New electricity tariffs to be announced by next Sunday, July 10

New electricity tariffs will have beeen announced by next Sunday, July 10 by all energy suppliers. The new tariffs will not include the adjustment clause and will be effective as of August, 1. 

The government aspires with the combination of measures implemented in the wholesale and retail market to absorb more than 70 pct of the price increase and to reduce  the cost of the kilowatt-hour close to the level of last autumn.

On the other hand, developments in the international market regarding the price of natural gas are not favorable and market sources express reservations about the effect of the interventions. However, the government reassures that if necessary, the budget expenditure on energy subsidies will increase.

Staikouras: Possible interventions as of September

In September, "we will see what we will do with the fuel, we will see what will happen with the electricity, which if it rises further we will proceed to additional interventions, and the abolition of the solidarity levy," Finance Minister Christos Staikouras said in an interview with ANT1 TV on Sunday.

Referring specifically to the support measures amounting to 8.5 billion euros, he said that, despite the good conditions seen in the economy, "the government intervenes with measures."

Commenting on the proposals for further tax reductions, he said that we all pay less taxes. However, he added, "we do take it into account and we only only look at the prices in super markets. I remind once again that Greece will have a deficit this year. If the deficit grows, the country will have to borrow and the citizens will have to pay for it." He also reminded that "lower incomes have a reduction in Uniform Real Estate Tax (ENFIA) and income tax."

Regarding whether the measures will be announced before or after the elections, Staikouras said that "the planning concerns a four-year period. On August 20, the country will  exit the enhanced surveillance status" and added that "we are not a government of granting allowances, but a government of tax reduction."