Subsidies

The government said it will extend power bill subsidies for households and farmers in November, despite a fall in energy prices from last year, as conflict in the Middle East created upside risks.

It has spent more than €10 billion since the middle of 2021, mainly in subsidizing electricity and gas bills, to support households, businesses and farmers.

Government plans call for a gradual withdrawal of income support measures, as the country must once again produce significant primary budget surpluses. Accordingly, the Ministry of Finance has tried to contain expectations of handouts at Prime Minister Kyriakos Mitsotakis' keynote speech at the Thessaloniki International Fair on September 9.

The new cycle of subsidies for tourism investments has begun, only this time it excludes business plans on Mykonos and Santorini.

It includes tax subsidies and other incentives, and depending on the size of the business and the region where the business plan is developed, provides help from 25% to 75%.

The majority of Greek power providers announced late on Monday significantly lower rates for April, following the easing of prices in the Greek energy exchange and in international markets.

The SPIRIT agency for entrepreneurship, internationalisation, FDI and technologies has received nearly 2,000 requests for energy subsidies from companies seeking a total of €399,5 million. €650 million has been earmarked for the measure.

A total of 17,801 e-cars were circulating on Greek roads in 2022, with new e-car registrations totaling 7,498 in the January-November 2022 period, accounting for 7.6% of all new registrations in the country.

The Greek government is currently implementing a program which aims to promote the use of electric vehicles.

Fuel prices in Kenya surged to record highs yesterday after the new government slashed subsidies, piling on misery for a population already facing deep economic hardship.

The price of petrol increased by 20 shillings to 179.30 (about $1.50) per liter while diesel and kerosene prices are up by 20 and 25 shillings respectively, the Energy and Petroleum Regulatory Authority (EPRA) said.

Adonis Georgiadis, Minister of Development, spoke to MEGA channel noting that: "The president of France said something very telling about the coming winter in Europe. The president of France, Emmanuel Macron said that the times of carelessness are over and we are entering a very difficult winter.

Investments of $1.3 billion aimed at energy efficiency helped Türkiye save $372 million in 2021, according to data from the Energy and Natural Resources Ministry.

Türkiye launched its National Energy Efficiency Action Plan in 2018, which targets to increase efficiency in buildings, industry, transport, agriculture and other sectors.

An electronic platform allowing households to apply for a power bill rebates, to offset higher bills, will open on June 16, Greek Alternate Finance Minister Theodoros Skylakakis announced, although the government will try to have it up and running by June 15.