Greece: 1.9 billion-euro subsidy for September power hikes

ATHENS, Greece (AP) — Greece’s environment and energy minister has announced a 1.9 billion-euro ($1.89 billion dollar) subsidy for September to help households and businesses cope with increasing electricity prices. Greece is one of several European countries providing subsidies to help consumers offset soaring energy prices triggered by Russia’s war in Ukraine. September’s amount is up from 1.1 billion euros in August. The minister says next month’s subsidy will apply to roughly 6 million households, regardless of income level.  He said Tuesday that the funds will absorb 94% of power bill hikes for households, 89% of the price increase for small and medium-sized businesses, and 90% of the increase for farmers.