The Greek government’s announcement on Monday of new measures aimed at reducing energy costs for industry was met with disappointment by business and industrial groups, which described the package as insufficient and failing to address the core issue: the high cost of electricity that continues to undermine the competitiveness of Greek industry compared with other European countries.
Industry representatives argue that the main problem remains the price of industrial electricity, and most of the announced measures do not directly reduce that cost. One of the key measures, the increase in CO₂ compensation, primarily benefits very large energy-intensive industries rather than the broader industrial sector. Another major initiative, a €200 million energy efficiency program, focuses on investments that will reduce energy consumption over time, but does not provide immediate cost relief for companies currently struggling with high electricity bills.
In practice, the only measure expected to have an immediate impact on electricity bills is the reduction of Public Service Obligation charges. However, the financial benefit is considered relatively small. For example, a medium-voltage industrial company that pays hundreds of thousands of euros annually for electricity may see its costs reduced by only a few thousand euros per year — a reduction that does little to change the overall financial burden.
Smaller industrial and manufacturing companies that do not receive CO₂ compensation are expected to see minimal changes in their energy costs. At the same time, the Modernisation Fund program, although considered important for the long term, requires companies to invest their own capital in equipment, electrification or energy upgrades before they can benefit from lower energy costs. This approach does not help businesses that are currently facing competitiveness and liquidity pressures.
Industry groups also point out that in several other European Union countries there are more direct interventions to lower industrial energy costs, such as special industrial electricity tariffs, long-term electricity contracts at stable low prices, or reduced energy taxes. In Greece, by contrast, most interventions are indirect and not structural, meaning they do not fundamentally change the cost of electricity for industry.
Another concern raised by industry leaders is that in the medium term, companies operating in the same sector may end up facing different energy costs not because of differences in efficiency or investment, but because of different support schemes and subsidy regimes. This, they argue, could create distortions in competition within the same market.
Statements by Spyros Theodoropoulos, president of the Hellenic Federation of Enterprises, reflected the broader sentiment within the industrial sector, indicating that businesses are not satisfied with the measures because they “do not solve the problem.” However, he noted that discussions between industry and the government are continuing.
