Polish president OKs plan to cap electricity prices

Poland’s president has approved a measure to cap the prices of electricity as part of efforts to protect households, local governments and businesses from rising energy costs driven by Russia’s war on Ukraine, his aides said on Wednesday.

Pixabay License

Image by Markus Spiske from Pixabay

The Polish government last month adopted a proposal under which the price of electricity for local governments, small and medium-sized companies as well as "sensitive recipients" such as schools and hospitals would be capped at PLN 785 (EUR 163) per 1 MWh, according to officials.

Meanwhile, the price of energy consumed by households, above limits established in an earlier bill, would be capped at PLN 693 (EUR 144) per 1 MWh, officials told reporters.

President Andrzej Duda on Wednesday signed those plans into effect after the measure was passed by Poland's parliament last week, state news agency PAP reported.

The government has allocated PLN 19.7 billion (EUR 4.1 billion) for the programme, according to the Polish Prime Minister’s Office.

The initiative is designed to protect customers from the effects of rising prices of energy in the aftermath of Russia's invasion of Ukraine, government officials have said.

(gs)

Source: PAP