Greece “returns” to oil – The government will subsidize heating, ceiling from the E.U. – Newsbomb – News

Greece “returns” to oil – The government will subsidize heating, ceiling from the E.U. – Newsbomb – News
Greece “returns” to oil – The government will subsidize heating, ceiling from the E.U. – Newsbomb – News

Oil has been judged to be the cheapest and most convenient way of heating for the difficult winter ahead and therefore the government is expected to offer subsidies. For its part, the E.U. will impose a ceiling on prices.

The Greek government will subsidize heating oil this winter, according to reports, in order for consumers to choose this way to keep warm in the winter, given the sharp rise in gas and electricity prices.

At the moment, approximately 1.5 million consumers are heated with natural gas and electricity, and the government’s aim is to offer these households incentives to return to the traditional – and now much more economical – way of heating, that of oil. This will be done by replacing the boilers they already have with oil ones.

Ceiling on energy prices, the European solution

At the same time, a ceiling on energy prices is the solution towards which the EU is oriented, in order to face the “cold” winter that is coming.

The scenarios that the European energy ministers are considering initially concern the imposition of a ceiling on the price of natural gas intended for electricity generation, according to the model applied in Spain and Portugal. This solution is accompanied by compensation to power producers for the difference between the ceiling and the actual price of natural gas.

Secondly, the imposition of a single ceiling on the compensation price of the power generation units which will be derived from the average cost of the units, subsidizing those with a higher cost than the average, is being considered.

The official announcements will be made on September 14, a few days after the meeting of the energy ministers, on the 9th of the same month.

It is noted that the possibility of enforcement ceiling on the price of natural gas was included in the conclusions of the European Council of 25 March

Greek proposal for the decoupling of electricity – natural gas prices

One more Greek proposal on the decoupling of electricity prices from natural gas prices, which was submitted by the Minister of Environment and Energy Kostas Skrekas to the Council of Energy Ministers in July provides for the division of production into two parts: on the one hand renewables, nuclear, high efficiency cogeneration, hydro and storage, and on the other coal (lignite) and natural gas plants. The price that consumers will pay, according to this proposal, will result from the weighting of the two “baskets” and according to the analysis of the ministry it can be up to 45% lower from the price that is formed today in the Stock Exchanges.

Thus, two of the proposals currently under discussion are of Greek inspiration.

The article is in Greek


Tags: Greece returns oil government subsidize heating ceiling #E.U Newsbomb News

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