Subsidies for electricity bills have been extended for another two months in a bid to tackle inflationary pressures, the Cabinet decided on Wednesday.

The budget amounts to €30 million for the bills expected in March and April, and concern energy consumption for the period of January and February.

It is expected to cover 449,000 homes and 111,500 businesses as well as water pumping for water supply and irrigation. The subsidy will cover domestic, commercial and industrial uses for water supply for irrigation or rainwater pumping on a bi-monthly basis.

Wednesday’s Cabinet session is the last to be chaired by President Nicos Anastasiades as he prepares to leave for office before newly elected Nikos Christodoulides takes over on March 1.

So far, the government has earmarked €58.4m to over one million electricity bills issued between September 1, 2022 and January 31, this year. Specifically, 1,353,088 bills have been affected by the subsidies, the deputy government spokeswoman Niovi Parisinou specified.