The European Commission has approved an €800 million Greek program to support non-household electricity consumers in the context of Russia’s war against Ukraine.
The scheme was approved under the State aid Temporary Crisis Framework.
In announcing the approval on Monday, the European Commission’s Executive Vice-President in charge of competition policy, Margrethe Vestager, said: “Russia’s unjustified war of aggression against Ukraine continues to negatively affect the EU and the Greek economy.”
“The €800 million scheme approved today will enable Greece to support affected sectors and companies, in particular the smaller ones, by ensuring that sufficient liquidity remains available to them.
“We continue to stand with Ukraine and its people. At the same time, we continue working closely with Member States to ensure that national support measures can be put in place in a timely, coordinated and effective way, while protecting the level playing field in the Single Market.”
Under the scheme, eligible beneficiaries will be entitled to receive aid in the form of direct grants. The monthly subsidy amount per company will be set according to the electricity wholesale market price.
