The outgoing Cabinet is set to approve an extension for two additional months of the state subsidy of part of the electricity consumption’s cost which expires at the end of February.
This is what Philenews reported on Friday, adding that this is the last action to be taken on Wednesday by the Nicos Anastasiades administration whose term has expired.
The continued electricity subsidy will be carried out through a government decision, while the continuation of the measure for reduced excise duty on fuel will be done via a bill to be approved by Parliament.
Specifically, the subsidy for vulnerable electricity consumers was up to 100%, while for other domestic consumers, as well as commercial and industrial consumers, the subsidy was tiered, starting from 50% to 85%.
“We were told that with the granted extension the subsidy will have the same form. The subsidy on the cost of electricity consumption began in September,” Philenews also reports.
Prior to the electricity subsidy measure, the VAT on the bills of vulnerable consumers had been reduced to 5% from 19%, while for other domestic consumers the VAT was reduced to 9%.
In addition, for the continuation of the measure of reduced excise duty on fuel, a bill is expected to be submitted to Parliament.
It is not excluded that the House plenum will meet in an extraordinary session to approve it.
