Greece has implemented a new law imposing a special levy on electricity producers that use natural gas as fuel for August 2024.
This levy, set at EUR 10 per thermal megawatt-hour of the higher heating value of natural gas, is part of the government’s efforts to support the Energy Transition Fund. The levy will be calculated based on the amount of natural gas consumed by each electricity producer for power generation.
Revenue from the special levy will be allocated to subsidising household electricity tariffs in August, with the exact amount to be determined by the end of the week, aiming to keep final consumer prices around 15 cents per kilowatt-hour.
This development follows the Ministry of Finance’s recent proposal, on 31 July 2024, to introduce this special levy for the month of August.
The revenue generated from this levy will contribute to the Energy Transition Fund, aimed at supporting energy initiatives and alleviating consumer electricity bills during a period of rising energy costs.
