Energy News Today

Two-speed heating oil subsidy |

The heating allowance will be granted this year to those within two categories of income limits.

For some, last year’s income limits (€14,000 euros for singles and €20,000 for married taxpayers) will apply, along with a double benefit, and for others the new income limits (€16,000 for singles and €24,000 for couples), but with a single benefit.

The new beneficiaries that switch from gas and electricity to oil for their heating will receive a double benefit, but with the income criteria that applied last year, while the new expanded income criteria will apply to the old beneficiaries. Also, with the expansion of the criteria, consumers who used oil, but were excluded due to income, will also receive a subsidy.

The new process brings more beneficiaries into the government’s planning and it is estimated that 1.3 million households could potentially receive the benefit, from 950,000 in 2021.

The cost of the heating allowance amounts to €300 million. However, the government, depending on developments in oil rates, is expected to continue the subsidy of €0.25 at the pump in the first quarter of 2023. Currently the 25-cent subsidy applies to purchases made until year-end.

Read More: Two-speed heating oil subsidy |

2022-10-31 01:15:41

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