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Power Pass - the payment of the electricity allowance when will be credited the money to the beneficiaries' account ( IBAN )
The time is counting down for the refund to households from the charge on their electricity bills in the period from 1 December to 31 May, with the maximum amount of compensation reaching 600 euros.
Within the current week, the payments of the Power Pass – electricity allowance to the beneficiaries are expected and, specifically, until next Friday, July 15, 2022, the payments of the beneficiaries for the electricity allowance through the Power Pass, which will reach up to 600 euros, are expected to be made.
According to the timetable of the Ministry of Finance, payments will start gradually in the next few days depending on the time of submission of the application.
Households can use the money as they wish without any commitment, i.e. withdraw or finance any of their expenses.
A necessary condition for the payment of the allowance is that they have declared their bank account number (IBAN) in the application on the online platform.
The subsidy will be received by the consumer whose name is the number of the electricity supply, as certified by the bills or the E1, while the same applies to tenants of their first residence.
In the event that a benefit for a specific month has been declared by a single natural person, this natural person will receive the entire amount of the support of the bills for that benefit that have been issued within the month.
In the event that a supply for the given month has been declared by two or more natural persons, the VAT number of the obligee to whom each bill is issued by the energy supplier in that month is checked.
The allowance is granted to the natural person who has the TIN, to whom the account is issued and receives the aid for the account in question.
In the event that the TIN to which the account is issued does not correspond to any of the applicants, the amount of aid for that account is divided equally among the applicants.
The compensation is paid to those who had a total charge on their electricity bills from December 1, 2021, to May 31, 2022, over 30 euros, with the minimum refund being 18 euros and the maximum not exceeding 600 euros.
The amount of the aid is calculated based on the total burden from the increase in the price of electricity after deducting the sum of the rebates received by the households in the specific time period from the state and the electricity providers.
60% of the remaining increased cost amount is refunded for main residence bills issued from 01/12/2021 to 31/05/2022 regardless of the consumption reference period of the bill, which means that the date of issue counts account and the period of consumption.
For example, if the total burden of a household in the period of December to May amounted to a total of 1,000 euros and the government subsidy was 500 euros, of the remaining amount of 500 euros paid by the consumer, he will receive 60%, i.e. 300 euros.
In the event that the net charge after deducting the government subsidy and discounts from the providers is 300 euros, the compensation the beneficiary will receive is 180 euros, if the charge is 1,000 euros the consumer will receive 600 euros.
However, in case the charge exceeds 1,000 euros, the consumer will receive 600 euros as this amount is the upper limit.
For example, if the household was burdened with 2,000 euros, it will not receive 60% of 2,000 euros, i.e. 1,200 euros, but 600 euros.
Please note that no aid will be given regardless of the amount of the charge on electricity bills for secondary or holiday homes as well as for communal electricity in apartment buildings.
The financial support is provided to natural persons with an annual net family income after taxes, the tax year 2020, up to 45,000 euros.
If the debtor submits a tax return for the tax year 2021 for the first time, the net income after taxes for the tax year 2021 is taken into account. It should be noted that the limit of 45,000 euros concerns the family income, i.e. in the case of married couples, the incomes of the spouses are added.
For example, if one has a net income of 20,000 euros and the other 26,000 euros, they will not receive the allowance since their total income amounts to 46,000 euros.
The "winners" are the singles, as the limit of 45,000 euros applies to them, so the risk of exceeding the income limit is smaller.
Income information for the tax year 2020 is taken into account as declared by May 1, 2022. Tax residence information
as well as the income of the tax year 2021, are taken into account, as they have been declared, until the moment of the application to receive the financial aid of each beneficiary.
Income after taxes is calculated as the taxable income after deduction of the relevant tax.
In this way, those who showed family incomes in excess of 45,000 euros in the 2021 tax return are also entitled to the subsidy, as the declared income on the tax return includes taxes and is thus always higher than the net.
For example, an unmarried private sector employee who declared an annual income of €55,000 is entitled to compensation for his electricity bills for the period December 2021 – May 2022 as after deducting the tax of €16,100 attributable to the €55,000 income, his net income is reduced to 38,900 euros, i.e. it is below the ceiling of 45,000 euros and is therefore entitled to the subsidy
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