The government has approved a measure which will discount electricity prices through the winter months, following recent, unprecedented levels of inflation in the energy sector.
The coalition made the agreement Thursday evening, ETV news show "Aktuaalne kaamera" (AK) reported, and in addition to support in paying electricity bills, natural gas, whose prices, too, have been soaring lately, is also covered. Around 72,000 households are covered by the measure, ERR reports, with €20 million to pass via local government for this purpose.
As reported by ERR News, economics affairs minster Taavi Aas (Center) said earlier Thursday that energy providers would be compensated for the discounts, something which will cost the state around €75 million over half-a-year months.
The support period is to be applied retroactively, from September this year to March next year, i.e. the coldest months, while the state will fund the program using some of the €200 million expected as proceeds for CO2 quota allowance sales in 2021.
Taavi Aas told ERR that the final, total value of support paid to actual customers depends both on the number of applicants and electricity prices, but put the figure at around €15 million.
He said: "It is still difficult to put a final figure on it today, but it will be somewhere around €15 million, one could expect as of now."
Electricity prices reached an historic high late last week, at €178.4 per MWh on the Nordpool trading market, but have now fallen to €95.82 per MWh for Friday - a 40 percent drop just on the preceding 24 hours.
Editor: Andrew Whyte