Gibraltar subsidises electricity production

  • Printer friendly view
 Tuesday, October 18, 2022 - 11:35

SPECIAL REPORT by PETER TABERNER

The government is determined to ensure that the cost challenges that businesses face in Gibraltar from higher energy prices will be mitigated with a wide ranging support package.


Amid a price pressure crises with inflationary conditions continuing to bite, firms on the Rock will welcome the help that is planned by the government.
A government spokesperson explained: “In Gibraltar the rising cost of energy supplies have been amortized as follows: Supply of electricity, which is from a government entity, the Gibraltar Electricity Authority, is already subsidised by approximately 40%.”
“Increases in costs have been capped at 8% for the year August 2022 to August 2023. There will be no further increases during this period.”

MORE IN PANORAMA PRINT EDITION

19-10-22 PANORAMAdailyGIBRALTAR