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German expert panel proposes 2-stage gas price subsidy
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From left, Michael Vassiliadis, Chairman of the German Mining, Chemical and Energy Industrial Union, Siegfried Russwurm, President of the Federation of German Industries e. V and Veronika Grimm, member of the German government's Council of Economic Experts, hand over the report containing the proposal of the Independent Commission on Natural Gas and Heat to German Chancellor Olaf Scholz, Robert Habeck, Federal Minister of Economics and Climate Protection, and Christian Lindner, Federal Minister of Finance, in Berlin, Monday, Oct. 10, 2022. A government-appointed expert panel is proposing a two-stage system for distributing up to $195 billion in subsidies Germany has announced to ease the strain of high energy prices. German news agency dpa reported Monday that the panel will suggest one-off payments to natural gas customers equivalent to a single monthly bill this year, followed by a price subsidy for part of people’s consumption next year. - photo by Kay Nietfeld/dpa via AP
BERLIN (AP) — A government-appointed expert panel on Monday proposed a two-stage system for distributing up to 200 billion euros ($195 billion) in subsidies Germany has announced to ease the strain of high gas prices, a plan that the group said would still encourage people to save energy. The panel suggested that the state take on the cost of natural gas customers' monthly bill in December, followed by a price subsidy for part of their consumption starting next spring. That “gas and heating price brake" would kick in next March and apply until April 2024, panel co-chair Veronika Grimm said.