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Gov't To Announce EUR150-200bn Energy Price Relief Package @ 1400CET

GERMANY

Wires reporting that the German government is set to announced a 'comprehensive solution' to high gas and electricity prices at 1400CET [0800ET/ 1300BST] in Berlin.

  • Handelsblatt reports that the relief package could cost EUR150-200bn.
  • Chancellor Olaf Scholz (SPD), Economy Minister Robert Habeck (Greens) and Finance Minister Christian Lindner (FDP) are reported to have been negotiating the package in recent days. Lindner, from the pro-business liberal FDP and the most hawkish of senior ministers, is believed to have held out on a deal, raising concerns of compliance with this year's debt brake.
  • Handelsblatt: "A solution has now been found: the gas price brake is to be financed via the Economic Stabilization Fund (WSF). This was set up during the corona pandemic to help companies. It actually expired in the summer, [but] now it should receive additional funds."
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