Complementary measures have contributed to avoid a significant increase in fuel prices – Minister

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Complementary measures have contributed to avoid a significant increase in fuel prices – Minister
Complementary measures have contributed to avoid a significant increase in fuel prices – Minister

Africa-Press – Cape verde. The Government said on Monday that complementary measures taken to mitigate electricity tariffs, such as tariff price adjustment, valued at 5.4 billion escudos, contributed to avoid the significant increase in fuel prices.

The Minister of Industry, Trade and Energy, Alexandre Monteiro, defended this position during the statement on social and economic emergency situation caused by the impacts of the war in Ukraine, clarifying that overall all this represents about 5.4 billion escudos, of which 4.7 billion for electricity and 700 million aimed at stabilizing fuel prices.

Alexandre Monteiro explaned a set of energy transition measures proposed by the Executive in its acceleration to take effect in the “very short term”, that is, within the horizon of a year, ensuring that the Social Electricity Tariff will not be affected to protect low-income consumers.

In the other categories, he explained, “a discount of up to 70% of the value of the tariff increase to occur by the end of the year will be allocated to the result of increases in international fuel prices in domestic prices”.

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