An amendment concerning the subsidy for heating oil was submitted to the Greek Parliament on Wednesday afternoon. Specifically, the amendment — filed jointly by Minister of National Economy and Finance Kyriakos Pierrakakis, Minister of Environment and Energy Stavros Papastauros, and Minister of Development Takis Theodorikakos — introduces a per-liter subsidy on heating oil available in the market from October 15 through October 31.
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What the heating oil amendment provides
According to the amendment, the subsidy will be calculated on the net value of quantities supplied by refineries or fuel trading companies to retail distributors and industrial customers. The final subsidy amount will be determined by a joint ministerial decision to follow.
As stated in the explanatory report accompanying the measure, the goal is to address the sharp rise in heating oil prices ahead of the winter season and the start of heating oil distribution.
“By implementing this measure, it is expected that part of the heating oil price increase will be offset, limiting the impact of the above price rise on both households and professionals — particularly those on lower incomes who cannot afford to spend a larger portion of their disposable income on purchasing it,” the report notes. The amendment was attached to a bill introduced by Minister of Maritime Affairs and Island Policy Vassilis Kikilias, concerning the operational strengthening of Port Authorities, which is set to be brought before the full Parliament on Thursday morning.
