Greece’s Regulatory Authority for Energy (RAE), the independent electricity market regulator in the country, has approved off-set measures worth 134.5 million euros to alternative suppliers to cover their losses from state-mandated power bill subsidies extended to lower-income and disadvantaged consumers over the 2015-2016 period.
Another 16.5 million euros in off-set measures was approved for the same two-year period to cover losses by the non-state electricity providers in providing service to large families – another welfare perk instituted by the central government when the state-run power utility enjoyed a near monopoly in the country.
Lower income and disadvantaged consumers in this case means people with disabilities, the registered unemployed and large families, among others.
The rebate for alternate suppliers will come from a “utility service” fee imposed on all electricity bills in the country, regardless, a fund that also subsidizes the higher costs for power production for the numerous Greek islands still not connected to the mainland grid – despite decades of official promises to implement such a project.
