The Dutch government expects to spend about €23.5 billion on price caps on energy contracts to protect consumers from rising prices, Reuters reports.
The government said last month that it would cap prices, but has not yet agreed on the final details.
Throughout 2023, prices will be capped at 0.40 euros per kilowatt hour of electricity and 1.45 euros per cubic meter of gas for a maximum of 2,900 kilowatt hours and 1,200 cubic meters, respectively.
Households will also receive an average of €190 in compensation for electricity for the last two months of 2022, the government said.
These measures supplement plans to spend about 18 billion euros next year to help residents cope with high inflation, especially those with lower wages.
Inflation in the Netherlands jumped to 17.1 percent in September, the highest in decades, driven by rising energy prices.