April 6 (Reuters) – Greece will offer aid worth 100 million euros ($115 million) a year for the next five years to help industries and smaller businesses with rising energy costs, Greek energy minister Stavros Papastavrou said on Monday.
The country has also secured subsidies worth a total of 200 million euros from the EU’s Modernisation Fund, which will be extended to industries in the aluminium, copper, cement, iron and wood sectorsgbv that implement investment plans aimed at saving energy, Papastavrou added.
“It’s a substantial package of actions to boost competitiveness,” Papastavrou said in a televised statement. “We remain on alert, as it’s obvious that the intensity and size of the Middle East crisis affects us all.”
Greece relies heavily on Middle East oil imports. Papastavrou said at an energy conference earlier on Monday that the country’s energy supplies are secure for the coming months but that any estimate remains contingent on developments that no one can predict.
Athens last month announced subsidies for fuel and fertilisers and ferry ticket discounts worth a total of 300 million euros ($346.68 million) in April and May to help consumers and farmers.
Greece has also imposed a cap on profit margins on fuel and on products on dozens of supermarket shelves until the end of June.
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(Reporting by Angeliki Koutantou; Editing by Kirsten Donovan)