The government is promoting measures to cut industrial energy costs, as according to sources the Public Gas Corporation (DEPA) has managed to persuade its suppliers of natural gas, Russia, Algeria and Azerbaijan, to reduce the price by 12 percent.

This reduction will be passed on in its entirety to DEPA’s major industrial clients, along with the three local gas corporations and electricity producers. Deputy Energy Minister Asimakis Papageorgiou will also ask for a further discount from Russian firm Gazprom, DEPA’s main supplier.

Regarding electricity, Papageorgiou has asked the Public Power Corporation to adopt a model for charges similar to those of other European countries for energy-intensive exporting industries and that it harmonize its policy with a decision by the Regulatory Authority for Energy for the rates of medium-voltage industries to be based on their energy profiles in tailor-made contracts.