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Dutch government to impose price cap on energy - NOS

By Reuters

<div> <p><span class="caps">AMSTERDAM</span> -The Dutch government is set to impose a price cap on energy contracts from Jan 1., 2023 to shield consumers from surging prices, Dutch broadcaster <span class="caps">NOS</span> reported on Monday.</p> <p>Energy prices would be capped at their level in January 2022 for the average amount of gas and electricity used by households, <span class="caps">NOS</span> said, citing government sources.</p> <p>The government is expected to announce its plans on Tuesday, while it was still working out the details with energy companies on Monday evening.</p> <p>A spokesperson for the government could not immediately be reached for comment.</p> <p>In addition to the price cap, energy companies would also promise to not cut off any customers in the coming six months, <span class="caps">NOS</span> said, and would try to start offering longer-term fixed contracts to customers again.</p> <p>The measures would come on top of plans to spend around 16 billion euros ($16 billion) next year in an effort to help people pay rocketing bills for energy and food, which are also set to be announced with the 2023 budget on Tuesday. </p> <p>These expenditures, which include a 10% increase of the minimum wage and higher income-related subsidies for health care and rent, will be mainly covered by hiking wealth and corporate taxes.</p> <p>($1 = 0.9991 euro)</p> </div>