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FAS-Energy Cap To Apply From 1 Dec, Not 1 Sept-Gov't Sources

GERMANY

FAS newspaper reporting that according to gov't sources, the retroactive cap on household gas and electricity prices will only apply from 1 December 2022, rather than the originally planned 1 September 2022.

  • Earlier this week, Reuters reported that the German gov't was considering, 'Tapping a 200-billion-euro "defence shield" created to counter the impact of Russia's invasion of Ukraine and taxes on windfall profits, Germany will cap prices for private households and small companies until the end of April 2024, the draft showed."
  • According to the article, "The cap will cover 80% of private households and small companies' previous year's gas consumption at 12 euro cents per kilowatt hour, it said. The draft laws are meant to be passed by the cabinet this week so that they can pass both houses of parliament in December."
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