Coalition approves extra energy support package

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The Latvian government coalition on Monday approved a package of additional energy support for households and businesses worth EUR 425 million, MP Arvils Ašeradens (New Unity) and Economics Minister Ilze Indriksone (New Unity) told journalists following the weekly coalition meeting on Monday.

Indriksone said that the support package agreed by the coalition provides for extending additional support to both households and legal entities, including companies and associations.

The minister indicated that support worth EUR 165 has been earmarked for households and EUR 260 for businesses and other legal entities.

Indriksone underlined that regarding the part of the support package involving benefits, people should be urged not to be shy and submit their applications.

As regards the proposed price cap and support for heating supply, an agreement has been reached that the government will pay 90 percent of the part of the price that exceeds EUR 150 per megawatt hour (MWh).

For households heating their homes with natural gas, gas suppliers will be compensated for the part of the price above EUR 107.34 per MWh.

Also, a fixed rate of up to EUR 180 per MWh will be applied to the first 100 kilowatts of electricity consumed by households, while the state will cover the difference. For businesses, the state will cover 50 percent of the part of the electricity price that exceeds EUR 160 per MWh.

The measures will still need to be approved by cabinet.

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