Close to 1.5 euros for heating oil – How will it be calculated and when will the allowance be paid

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About 1.3 million households will share €300m – The benefit that beneficiaries will receive this year will be 16.7% compared to last year due to the increase in the calculation base from €300 to €350.

By Chrysostomos Tsoufis

Zero hour for heating oil whose distribution starts today at a price of around €1.5/liter together with the 25 cents subsidy (it is typical that the market professionals told us that they too would know the exact amount of the distribution price early in the morning as any forecast with these conditions in the international markets would be risky).

In any case, the subsidized €1.50 is 35 cents higher than last year’s initial sale price of €1.15 and about 20-25 cents higher than the government’s estimates when it planned the subsidy measure. It’s no coincidence that at this price – even natural gas is cheaper – order flow has been sluggish so far.

About 1.3 million households will share €300m

The allowance that beneficiaries will receive this year will be 16.7% compared to last year due to the increase in the calculation base from €300 to €350.

However, all new beneficiaries as well as those who switch to heating oil this year (from electricity or natural gas last year) will receive a double allowance.

The allowance is calculated by multiplying the base of €350 with the special unique coefficient that each region of Greece has and which is representative of the cold. The result is increased by 20% for each child. The maximum amount of allowance for this year is €800 or €1600 if it is a beneficiary of a double subsidy.

Examples of subsidies

Based on all this, a beneficiary of the heating allowance, who lives permanently in the Municipality of Athens, received 300×0.43=€129 last year. This year the same beneficiary will receive €150.5, while if he is a first time beneficiary or if last year he burned, say, natural gas and this year he will burn heating oil, he will receive €301.

An unmarried resident of Karpenisi will receive €378. If she had a child she would get €453.6 (20% increase)

It is estimated that the beneficiaries this year will be increased by approximately 500,000 as the income criterion for single people increases to €16,000 from €14,000. From €20,000 to €24,000 it increases for the married and €3,000/child is added, so a family with 3 children is at €33,000. The property criteria remain at €180,000 for the unmarried and at €300,000 for the married, which means that with the increase in objective values, some will unfortunately be out of the “bride” category.

The horizontal subsidy of 25 cents according to the government’s plan, it will be in effect until 31/12/2022, but if the conditions require it, a fund has already been provided for its continuation in the first months of 2023.

The application platform is expected to open at the end of November and the first big payment will be in the last days of December.

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