Lithuanian parlt approves electricity, gas price compensation plan

Part of the recent sharp increase in electricity and natural gas prices for residents and businesses in Lithuania will be compensated from the state budget in the second half of this year.

The Seimas of Lithuania on Thursday approved the plan and the allocation of 570 million euros.

The state aid will be available to all consumers, including those buying electricity from public and independent suppliers and also those who have guaranteed supply ensured.

Deputy Energy Minister Inga Ziliene says that "very preliminary calculations" show the electricity tariff is to be subsidized from July to make sure it does not exceed 23 cents per kilowatt-hour: "In this case, the tariff would increase by about 40 percent, compared to the public price today".

Gas tariffs for households should also increase by no more than 40-50 percent.