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The Greek Electricity Company: an electric shock with a 37% increase in monthly bills

01 December 2012 / 14:12:37  GRReporter
2216 reads

The increase in electricity prices will burden additionally family budgets. It will amount to 37% and the proposal for it has already been submitted to the Ministry of Environment, Energy and Climate Change.

The new increase is a result of the Troika's requirements for the exemption of home bills and it is provided in the preliminary agreement negotiated by lenders and the government. The increase will happen in three stages. The first is from 1 January, 2013, and the Ministry of Finance and the Ministry of Energy will have to issue a decision to change monthly invoices. The second stage is as of 1 March, and the third - as of 1 July, when the invoices will be fully exempted. The government, according to its obligations, will exempt public sensitive groups from the increase. There will be a special price list for these, but it is not yet clear what the changes will include.

Meanwhile, Chairman of the Board of the Electricity Company Arthouros Zervos said that the company has implemented the legislation for pay cuts for its employees. It is specified that, according to September's decision, this amount will include remunerations of all kind - salary, compensations, family allowances, etc. The document was provided by the Electric Company in Parliament in response to a question by New Democracy MP George Kalandzis who required information about the amount of monthly salaries of the company's employees - from the director to the lowest position. It became clear that, compared to 2009, the average reduction in wages was 37%, which is 2% more than the law requires for permanently appointed staff's remunerations, and, for the past three years, the total reduction of funds for salaries in the company amounted to 600 million euro. The percentage of pay cut is different for the different positions - it varies from 25% for the lowest positions and up to 50% for managerial staff. Executives suffered a decrease of up to 75%.

According to the document, the upper limit of monthly remuneration for executives of the company, chairperson and vice chair-people of the Board, directors general and heads of sectors, amounted to 5,000 euro gross, which makes a net wage of 2,800 euro. According to their length of service completed, engineers earn a gross monthly wage starting from 1,192 euro for new recruits and of up to 3,737 euro for the most experienced staff, which corresponds to a net monthly pay of 800 to 2,400 euro. University graduates with no engineering education earn a gross a monthly wage ranging from 987 to 3,636 euro. Staff with technical education is paid a gross monthly remuneration from 600 to 2,100 euro, while employees with secondary education - from 689 to 2,754 euro. The lowest monthly wage in the company amounts to 572 euro gross.

Tags: The Greek Electricity Company increase prices wages
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