Governments worldwide shield households from rising energy costs

Governments worldwide are trying to shield consumers from
soaring energy costs resulting from the U.S.-Israeli war on Iran.
Here's how different countries are
responding:
UK
Britain is looking to force older wind and solar
generators onto fixed contracts in a bid to bring down consumer bills.
THE NETHERLANDS
The Dutch government
announced temporary tax breaks to compensate for rising fuel prices and said it
would prepare further measures in case the energy crisis worsens.
SWEDEN** Sweden's government will
cut fuel taxes and hike electricity subsidies in its spring mini-budget as it
strives to ease the pain for households of higher energy bills driven by the
war.
INDIA
India will review its fuel
exports if needed to ensure availability in the local markets, a government
official said.
India is assessing
fuel-supply requests from its neighbor's and will approve exports only if it
has surplus volumes, the foreign ministry said.
The country has barred
consumers with piped natural gas from retaining, obtaining or refilling
domestic liquefied petroleum gas cylinders. It is also strengthening
infrastructure to expedite a shift towards piped gas.
It has invoked emergency
powers and directed refiners to maximise production of LPG, widely used for
cooking. It cut sales to industry to avoid a shortage for 333 million homes
with LPG connections.
SOUTH KOREA
South Korea is easing limits
on coal-fired power generation capacity and raising nuclear power plant
utilisation to as high as 80%.
It is considering additional
energy vouchers to support vulnerable households.
It has begun enforcing a ban
on naphtha exports to boost domestic supplies.
CHINA
China has banned refined fuel
exports to pre-empt a potential domestic fuel shortage, four sources said.
It is also releasing
fertiliser supplies from national commercial reserves ahead of spring planting.
AUSTRALIA
Australia is releasing
petrol/gasoline and diesel from domestic reserves to ease shortages affecting
rural supply chains as well as mining and agriculture.
Its prime minister warned the
economic shocks of the war would be felt for months and encouraged citizens to
take public transport.
JAPAN
Japan's industry ministry
said it will relax rules for one year to increase the use of coal-fired power
plants in the fiscal year starting April.
Japan called on the Group of
Seven wealthy nations and the International Energy Agency to be ready to take
further flexible measures to stabilise energy markets if the Iran war drags
on.
Japan has asked Australia,
its biggest supplier of liquefied natural gas, to boost output.
The country plans to increase
imports of intermediate chemical products such as plastics, as it faces tighter
naphtha supplies due to the conflict.
EUROPEAN UNION
European Union leaders called
for temporary measures to mitigate the impact of a surge in energy prices,
with electricity tax cuts, lower grid fees and state support put forward as
possible short-term fixes.
BANGLADESH
Bangladesh is seeking
billions in external financing to secure fuel and liquefied natural gas
imports.
SERBIA
Serbia will cut excise duties
on crude oil by a cumulative 60% to calm the local market.
It has also extended a ban
on crude oil and fuel product exports to safeguard its market from shortages
and price spikes.
ITALY
Italian Prime Minister
Giorgia Meloni has said Italy is considering cutting excise duties to soften
fuel prices and is ready to raise taxes on firms responsible for unduly
capitalising on the energy crisis.
SPAIN
The Spanish prime minister
said parliament is expected to vote on measures proposed by the cabinet to help
citizens weather the economic fallout, including lowering fuel and electricity
taxes and granting fuel subsidies to sectors most exposed to energy price
spikes.
ARGENTINA
The government has issued a
decree to delay the effects of scheduled increases in taxes on liquid fuels and
carbon dioxide.
CAMBODIA
Cambodia is importing more
fuel from suppliers in Singapore and Malaysia to make up for supply shortfalls
from Vietnam and China.
MALAYSIA
Malaysia will raise spending
on petrol subsidies to 2 billion ringgit ($510 million) from 700 million
ringgit to maintain the fixed price of the fuel.
The government said it is
applying measures to shore up fertiliser supply amid a domestic supply crunch.
The government has also
announced steps to address supply disruptions - while warning that energy
supplies may run out by the end of May - including central bank support for
companies, efforts to diversify energy sources and secure inputs, enhanced data
monitoring of vulnerable sectors, and a special access pathway for critical
medicines and medical devices.
THAILAND
Thailand has discussed with
the Russian government the possibility of purchasing crude oil, a deputy prime
minister said.
The minister also said the
government would try to cap domestic diesel prices at 33 baht ($1.02) per
litre.
The Thai Planning Agency said
the government will freeze prices of some goods and provide support for
farmers.
GREECE
Greece will offer subsidies
for fuel and fertilisers and ferry ticket discounts worth a total 300 million
euros ($346 million) in April and May to shield consumers and farmers, Prime
Minister Kyriakos Mitsotakis said.
ROMANIA
The government said it would
reduce excise tax on diesel by 0.30 lei ($0.0679) per litre.
SLOVENIA
Slovenia temporarily limited
fuel purchases to tackle shortages at the pump caused in part by cross-border
fuelling and stockpiling.
PHILIPPINES
The Philippines' energy
market regulator said it had suspended the country's wholesale electricity spot
market across all its three grids until further notice due to fuel supply risks
and price volatility.
It also plans to curb power bills
as LNG prices surge by boosting coal-fired power generation and regulating
electricity tariffs.
The Philippines is working
with Washington to secure waivers and exemptions that will allow it to obtain
oil from U.S.-sanctioned countries and guarantee supplies.
The Philippine energy
ministry said it was activating a 20-billion-peso ($333 million) emergency fund
to strengthen fuel security amid continued volatility in oil prices.
VIETNAM
Vietnam will switch fully to
ethanol-blended gasoline earlier than planned as part of its efforts to curb
fossil fuel use, a government document showed.
SINGAPORE
The prime minister said the
government will bring forward some support measures announced at this year's
budget to cushion the impact of the conflict on households and businesses.
INDONESIA
President Prabowo Subianto
wants to increase the country's coal production, and the government is
considering a windfall tax on exports.
Indonesia will start
implementing the B50 biodiesel programme on July 1. The implementation of B50
- a blend of 50% palm oil-based biodiesel and 50% conventional diesel - is part
of a wider government programme to mitigate Iran war risks.
SOUTH AFRICA
South Africa will reduce its
fuel levy for one month to stop fuel prices rising even further in April.
BRAZIL
Brazil is rolling out a new
plan to help states subsidise diesel imports. Earlier in March, the government
scrapped federal taxes on diesel and imposed a 12% tax on oil exports.
EGYPT
Egypt has capped the price of
unsubsidised bread sold in private bakeries.
It will raise the local wheat
procurement price to 2,500 pounds ($46.76) per ardeb (150 kg) for this year's
harvest, as it moves to increase stocks of strategic commodities.
ETHIOPIA
Ethiopia has increased fuel
subsidies.
NORTH MACEDONIA
The North Macedonian
government on March 22 decided to cut VAT on fuel to stem the price hike at the
pump. The VAT on gasoline and diesel will be cut from 18% to 10%, Prime
Minister Hristijan Mickoski told local media. The measure will come into effect
on March 23 at midnight and will be in effect for two weeks.
MAURITIUS
Mauritius said it would
introduce energy-saving measures. Restrictions announced include curbs on grid
power for non-essential uses such as decorative lighting, swimming pool
heating and fountains, the government said.
NAMIBIA
Namibia's government will
temporarily reduce fuel levies by 50% for at least three months until the end
of June in a bid to protect consumers from higher pump prices.
NIGERIA
Nigeria's Dangote refinery,
the largest in Africa, has increased exports of gasoline and the widely used
chemical urea to African countries hit by supply disruptions caused by the war.
SRI LANKA
Sri Lanka will introduce
additional fuel-rationing measures to shorten queues and secure extra oil
supplies, a senior official said.
POLAND
Poland is working on a
solution to lower fuel prices which may involve lowering VAT, its finance
minister said.















