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Finnish government reaches agreement on electricity bill compensation

ruling coalition The Finnish government wrote that it had reached agreement on the details of a proposal to retroactively compensate households for electricity bills and extend the payment period for electricity bills. YLE When Helsingin Sanomat.

The five ruling parties have thoroughly debated the terms of the compensation scheme, but the agreement reached this week remains largely unchanged from the proposal announced a few weeks ago.

Coverage is available to households paying 10 cents per kilowatt-hour or more for electricity and is equal to 50% of monthly electricity bills over €90, with a monthly cap of €700. Compensation for four months from November to February will be paid based on the expenses incurred from November to December.

Helsingin Sanomat said the first payments are likely to be made in March. Compensation is automatically included in your electricity bill, so you don’t have to apply for it at home.

The cost of the compensation scheme jumped from €400 million to €412 million in the final stages of discussion.

According to the YLE, the Social Democrats demanded an increase in the compensation rate to 70% on Tuesday, but later withdrew their demands. With this demand, the cost of the scheme would have risen from €500 million to €600 million.

The government also agreed to extend the payment period for electricity bills in the first four months of the year by up to four months for households and two months for business customers. The extension applies to the total amount of the bill, not just half as outlined in the original proposal.

The Ministry of Economic Affairs and Employment on Wednesday said government officials were continuing to work out the details of the proposal with the aim of presenting it to lawmakers as soon as possible.

Alexi Teiweinen – HT

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