Published by Global Banking & Finance Review®
Posted on April 6, 2026
2 min readLast updated: April 6, 2026
Add as preferred source on GoogleGreece plans to offer industries and small businesses €100 million annually over five years to offset energy cost increases, alongside €200 million in EU Modernisation Fund subsidies for aluminium, copper, cement, iron and wood sectors pursuing energy-saving investments. The country also continues b
April 6 (Reuters) - Greece will offer aid worth 100 million euros ($115 million) a year for the next five years to help industries and smaller businesses with rising energy costs, Greek energy minister Stavros Papastavrou said on Monday.
The country has also secured subsidies worth a total of 200 million euros from the EU's Modernisation Fund, which will be extended to industries in the aluminium, copper, cement, iron and wood sectorsgbv that implement investment plans aimed at saving energy, Papastavrou added.
"It's a substantial package of actions to boost competitiveness," Papastavrou said in a televised statement. "We remain on alert, as it's obvious that the intensity and size of the Middle East crisis affects us all."
Greece relies heavily on Middle East oil imports. Papastavrou said at an energy conference earlier on Monday that the country's energy supplies are secure for the coming months but that any estimate remains contingent on developments that no one can predict.
Athens last month announced subsidies for fuel and fertilisers and ferry ticket discounts worth a total of 300 million euros ($346.68 million) in April and May to help consumers and farmers.
Greece has also imposed a cap on profit margins on fuel and on products on dozens of supermarket shelves until the end of June.
($1 = 0.8665 euros)
(Reporting by Angeliki Koutantou; Editing by Kirsten Donovan)
Greece will offer 100 million euros per year for the next five years to help industries and smaller businesses cope with rising energy costs.
Industries in aluminium, copper, cement, iron, and wood will benefit, especially if they implement energy-saving investment plans.
Greece announced subsidies for fuel, fertilizers, and ferry ticket discounts worth 300 million euros in April and May.
Greece has imposed a cap on profit margins for fuel and various supermarket products until the end of June.
The energy minister stated that supplies are secure for the coming months, but the situation depends on unpredictable global developments.
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