Electricity: price reduction – subsidy for 730,000 households

The Department of Environment and Energy has launched assistance for energy bills in the first two months of 2024 to support vulnerable consumers.

This assistance concerns the provision of subsidies to households that are included in the social household tariff (CHT). According to the Ministry of Energy, this is more than 730 thousand households, and for them assistance will cover the first two months of 2024, January and February. For January, financial support is set at €26 per megawatt hour (MWh), and for February at €18 per megawatt hour (MWh).

According to the Ministry of Energy, 100% of increased costs caused by pre-crisis electricity prices are covered by assistance to householdsincluded in the social tariff for households. 2-month subsidy for household social accounts:

• January – 2.6 cents/kWh.
• February – 1.8 cents/kWh.

Electricity prices, downward trend:

December wholesale price: 102 EUR/MWh.

February wholesale price: 75 EUR/MWh.

Cost of March kilowatt-hour: 9-11 cents.

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