Greek Finance Minister Kyriakos Pierrakakis announced a 30% increase in the heating allowance, alongside a direct subsidy on heating oil, as households face rising energy costs. Speaking to public broadcaster ERT, Pierrakakis said on Tuesday that the allowance would cover hundreds of thousands of households, while the separate subsidy would be applied at the pump to reduce heating oil prices.
The minister did not specify the amount of the direct subsidy or provide further details on how the measures would be implemented.
“We cannot stop an international energy crisis,” Pierrakakis said. “But we can make sure citizens are not left to bear its burden alone.”
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Προχωρούμε σε διπλή στήριξη στο πετρέλαιο θέρμανσης, με απευθείας επιδότηση στην αντλία, η οποία θα μειώσει άμεσα την τιμή, και με αύξηση στο επίδομα θέρμανσης κατά 30% σε σχέση με πέρυσι, μέτρο το οποίο αφορά εκατοντάδες χιλιάδες οικογένειες σε ολόκληρη την επικράτεια. https://t.co/yqky2Y85U7
— Kyriakos Pierrakakis (@Pierrakakis) October 13, 2026
Environment and Energy Minister Stavros Papastavrou and Deputy Finance Minister Thanos Petralias are expected to present the details on Wednesday, October 14.
Greek Refineries Reportedly Preparing 20-Cent Discount
Separately, Greece’s two major refining groups, Motor Oil and HELLENiQ ENERGY, are reportedly preparing to offer a discount of approximately €0.20 per liter on heating oil.
According to financial news outlet OT.gr, the two companies are finalizing plans for the discount, having previously indicated that they intended to offer lower prices for heating oil. An oil industry executive told OT.gr that the initiative would fulfill the companies’ earlier commitments to supporting consumers.
The precise arrangements for the discount have yet to be confirmed, including how it would be reflected in the final retail price alongside the government’s proposed subsidy.
Heating Oil Prices to Be Set October 15
The announcements come two days before the heating oil sales season begins on Thursday, October 15, when retail prices will be determined.
Deputy Prime Minister Kostis Hatzidakis said heating oil would be priced well below €1.75 per liter, although he did not provide a more precise estimate. Hatzidakis also said the government intends to continue subsidies for gasoline and diesel used in vehicles while introducing additional support for heating oil.