The Greek government announced a €700 million package aimed at reducing energy costs for approximately 23,000 small and large industrial businesses.
Stavros Papastavrou, Takis Theodorikakos and Nikos Tsafos presented the measures, which seek to strengthen the competitiveness of Greek industry while supporting sustainable economic growth.
The package includes two main pillars.
The first pillar provides direct reductions in industrial energy costs worth €100 million annually over the next five years, totalling €500 million. The government increased compensation for emissions costs and reduced charges for Public Utility Services by 50%. The emissions-related measure will provide additional support of approximately €75 million per year to energy-intensive industries, estimated at 40–50 companies. The reduction in Public Utility Service charges will apply to all industrial electricity users across low, medium and high voltage networks from 1 July, with an estimated annual cost of €26 million.
The second pillar allocates €200 million from the Modernisation Fund for Strategic Investments to support green initiatives. The fund will promote electrification projects, installation of energy management systems, energy storage solutions and heat recovery technologies. Eligible investments must achieve energy savings of at least 10%.
Papastavrou stated that the government remained committed to supporting industry within a responsible fiscal framework, emphasising that strengthening industrial competitiveness benefits the broader economy.
Theodorikakos highlighted that improving productivity and competitiveness in the industrial sector remains a key government priority, noting that the programme is expected to positively influence wages. He added that a public call for proposals under the Modernisation Fund will support sectors such as aluminium, copper, iron and metal construction, cement, timber, chemical and pharmaceutical industries.
Tsafos confirmed that the measures followed months of negotiations with the European Commission.
Spyros Theodoropoulos, President of Hellenic Federation of Enterprises, described the initiative as a step in the right direction, particularly for industries benefiting from emissions compensation. He noted that discussions with the ministry continue and that additional proposals have been submitted, including mechanisms such as interruptibility that do not burden the state budget.
greekcitytimes.com.
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