Portugal to Use 150 Million Euros of Fund Revenue to Cut Tariff
(Bloomberg) -- Portugal plans to use 150 million euros ($164 million) of the extraordinary revenue its Environmental Fund is receiving to lower the electricity network access tariff as the government tries to contain rising energy costs.
The Environmental Fund has been receiving higher revenue than planned, Environment Minister Joao Pedro Matos Fernandes said on Friday at a press conference broadcast by RTP. The fund gets revenue from auctions of carbon emission permits.
The government is also extending existing measures put in place to mitigate the effects of rising fuel prices, including support for public transport such as taxis and buses.
- Read more: European Energy Roars to Record Levels on Extreme Volatility
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