The Austrian government plans to spend about 500 million euros to reduce electricity bills for the general public, and the funds will come from state stakes in companies, Chancellor Christian Stocker said at a news conference on Wednesday, Reuters reports.

The surprise announcement prompted questions from journalists about exactly how the money would be obtained, but Stocker declined to give details on the government’s exact plans, according to Agerpres.

Austria holds stakes in various companies, including listed ones, such as Austrian energy group OMV, utility company Verbund, Austrian Post and A1 Telekom Austria, part of Mexican billionaire Carlos Slim’s America Movil.

“It is possible that we will make these 500 million euros available from our stakes.” The spending will not affect the budget and will not widen the deficit that the authorities are trying to keep under control, Stocker said.

He added: “I understand that you want me to tell you in detail which companies are involved and what methods will be used. We know how we want to do it. We have agreed on the details (within the government), ”the Austrian chancellor said.

A spokesman for the public company OBAG, which manages the state’s largest stakes in companies, declined to comment.