The government has extended the electricity subsidy until October 31, providing financial relief to around 400,000 households and 100,000 businesses with a budget of €12 million. The subsidy, based on electricity consumption levels, offers scaled benefits to help alleviate financial burdens caused by fluctuating energy prices.
The government has extended the electricity subsidy until June, benefiting over 400,000 households and 100,000 businesses, alongside maintaining zero VAT on essentials. Additional payments for households on benefits and increased monthly payments for lowincome pensioners show a commitment to easing financial burdens and promoting energy sustainability.
The Cabinet is looking to extend the electricity subsidy and zeroVAT initiative on essential goods to alleviate the impact of rising costs on citizens. Social welfare measures may also be prolonged to provide targeted support to vulnerable groups in need.
The PanCyprian Consumer and Quality of Life Union criticizes the government’s new support package, viewing it as a temporary solution rather than a comprehensive one. The Union raises concerns about the temporary subsidies offered, the lack of mention of gas, the inadequacy of the Photovoltaics for All Plan, and the government’s approach to tackling energy poverty. While the Union welcomes the zero VAT rate on meat and vegetables, it questions the potential effectiveness of this measure. Overall, the Union emphasizes the need for more sustainable and effective solutions to address the country’s energy and consumer issues.
