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    Greece earmarks €1.1 billion to combat October energy costs


    September 21, 2022 - dpa

     

      Athens — The Greek government is planning to absorb up to 90% of the inflation in the electricity and gas bills of its citizens in October.

      The aid could reach up to €436 ($432) per megawatt hour and cover about 90% of Greek households, Energy Minister Kostas Skrekas said on Wednesday.

      Citizens are also being asked to save energy. Those who consume 15% less this October than in the previous year will receive €50 more per megawatt hour consumed.

      Up to €1.1 billion has been earmarked for the new aid package, with only €100 million coming from the state budget, Skrekas said. The rest will be financed by windfall taxes on energy companies.

      Greece introduced the taxes in May. Until further notice, energy companies have to pay 90% tax on all profits above the 2021 average.

      ©2022 dpa GmbH. Distributed by Tribune Content Agency, LLC.

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