Greece to give energy savers bigger power bill subsidies

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Greece to give energy savers bigger power bill subsidies
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Public buildings across Greece are switching off exterior lights and taking other measures after the government called for municipalities and state entities to cut down on energy consumption

Since last year, Greece has tapped state funds to help reduce power bills for households and businesses struggling to cope with a spike in prices exacerbated by Russia's invasion of Ukraine.

"The more energy you save compared to last year's bill... the bigger subsidy you will get," Mitsotakis said. The European Commission last week proposed measures requiring EU countries to cut electricity use during peak price hours and force fossil fuel firms to share profits. Greece, which burns more than 40% of its gas to generate electricity, has reduced Russian pipeline gas imports and has ramped up the storage capacity of its sole liquefied gas terminal to ward off any future gas shortages.

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