UPDATE 1-Spain to spend extra 3 bln euros on energy price subsidies
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MADRID, Oct 13 (Reuters) - Spain will spend an extra 3 billion euros ($2.9 billion) to help vulnerable households cope with soaring energy prices, Prime Minister Pedro Sanchez said on Thursday.
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The government will increase the discount it offers on the power price for "vulnerable" and "severely vulnerable" households to 65% and 80%, respectively.
The government will also fund a 40% discount on low-income workers' power bills. As many as 1.7 million families living in buildings with central heating will also get price cuts.
"We will protect 40% of households," Sanchez told lawmakers.
Energy costs have skyrocketed over the past two years as the end of COVID-19 restrictions boosted demand and Russia's invasion of Ukraine in February led to gas price increases due to supply disruptions and fears they might get worse.
($1 = 1.0320 euros) (Reporting by Emma Pinedo; Editing by Inti Landauro and Mark Potter)