Next week the provision for enforcement will be submitted to the Parliament end in power generation with natural gas from which the subsidy of August electricity bills will be financed, the Minister of Environment and Energy said yesterday Theodore Skylakakis on the sidelines of the DEPA Emporia event for the signing of a loan agreement with the European Investment Bank.

The same provision will include the permanent arrangement for dealing with emergency crises in the energy market like the one we are going through now, the minister added.

Subsequently and after the appointment of the new European Commission, the regulation in question will be submitted to the new Energy Commissioner as this intervention moves within the limits of the relevant Directive. Which allows interventions in the market but with much stricter conditions that do not fit into the current image of the market.

However, as noted by Mr. Skylakakis, it is not acceptable to repeat the phenomenon of soaring prices every summer without the possibility of intervention. He added that conditions are different in Central Europe where cross-border connections are much stronger than in Eastern Europe and our country. “When there are extreme situations, there must be intervention tools” said Mr. Skylakakis.

The legislation will be tabled next week so we will be closer to the end of the month and there will be a better picture of the July average wholesale price on which August’s green tariffs are based. The amount of the subsidy will be announced on August 2, after the next month’s invoices are announced by the suppliers.