Estonian Government to Invest 88.25 million Euros to Reduce Energy Bills
Text Mark Taylor Photo Rachel Woock / Unsplash
The Estonian government announced on Thursday (4.11.21) that they are going to invest 88.25 million euros to combat rising energy prices. The money will be used to reduce network charges by half for all private and businesses users in Estonia.
Consumers do not need to do anything to receive these discounts. This is because the reduced network fees will be automatically calculated and deducted from energy bills. These reductions will likely appear in energy bills from December and last until at least March – with a possible extension until May.
In addition, these discounts will also act retroactively back to September. Meaning that half of network charges from September, October and November, will also be deducted from December invoices.
This measure is a welcome relief to individuals and businesses who have seen energy costs approximately double during 2021. The latest subsidy comes just one week after the government announced that it would allocate 37 million euros to support poorer households to pay their energy bills.
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