The key facts

  • The heating allowance in Greece will rise by 30% compared to last year
  • Dual support has been introduced: a subsidy at the pump will lower the price of heating oil
  • Germany and Spain have also taken measures to ease rising fuel prices until the end of December

Dual heating support

Greek Finance Minister, who also serves as President of the Eurogroup, Kyriakos Pierrakakis announced a 30% increase in the heating allowance compared to last year. According to him, amid an energy crisis that is testing the resilience of households around the world, the authorities' priority is to reduce pressure on families. The measure provides for dual support for heating oil: a direct subsidy directly at the pump, which will immediately reduce the price, and an increase in the allowance, which is expected to cover hundreds of thousands of families across the country.

Details and context

The responsible ministries are to present additional details of the measures on Wednesday. The announcement followed Greece's call on the EU to loosen budget rules, which would give governments more room to help households and businesses in the face of rising energy prices.

Measures in other European countries

Governments of a number of European countries are also trying to reduce pressure on motorists: in recent weeks fuel prices have reached record levels in several states. Several EU countries have introduced tax cuts and subsidies. Germany introduced a temporary reduction of the fuel excise tax by 17 cents per liter of petrol and diesel from October 1, while Spain extended its existing fuel tax discounts. Both countries' measures will remain in force until the end of December.