We have all experienced bearing the brunt of Eskom’s load shedding for a while but in Portugal, there are families who are left in the dark due to poverty.
Jorge Moreira da Silva, who is Portugal’s energy minister, has seemed to find a solution to help these families keep their lights burning. Jorge plans on subsidising electricity to half a million poor families which will be paid for by firms.
In order for this project to work and take flight, firms will have to cough up 25 million Euros to help these families.
“Let there be no illusions, the funding of this subsidised power is going to involve costs for companies, which in the past paid €900,000 and are now going to pay €25 million. We are not just encouraging social inclusion through these subsidised prices, with a 34% cut to the electricity bill for 500,000 consumers, but we are funding this through price hikes for companies”, he said.
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