Six months ago, Prime Minister Kyriakos Mitsotakis stood before the country’s
Six months ago, Prime Minister Kyriakos Mitsotakis stood before the country’s most powerful business lobby and promised to ease the energy costs crippling Greek industry. On Monday, his government unveiled a €300 million package intended to deliver on that pledge. Critics wasted little time calling it too modest for the moment.
The announcement came at a perilous time. With conflict in the Middle East showing no sign of abating and energy prices skyrocketing across Europe, Greek manufacturers have grown increasingly vocal about their struggle to compete with rivals in countries where electricity costs far less.
“Six months of difficult negotiations with the European Commission,” is how Environment and Energy Minister Stavros Papastavrou characterized the effort required to get the package approved; a framing that did little to quiet those who questioned whether what emerged was worth the wait.
A Package Built on Two Pillars
The plan, presented jointly by Mr. Papastavrou, Development Minister Takis Theodorikakos and Deputy Energy Minister Nikos Tsafos, is organized around two broad objectives: cutting electricity bills immediately for the country’s most energy-hungry industries, and financing longer-term upgrades to industrial infrastructure.
The first pillar commits €100 million a year for the next five
Content Original Link:
Read Full article form Original Source OIKONOMIKOS TAXYDROMOS
" target="_blank">Read Full article form Original Source OIKONOMIKOS TAXYDROMOS
