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POWER: Germany Mulls Expanding State Support for Energy-Intensive Firms

POWER
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Germany is planning on enlarging the state support for companies being impacted by higher power bills, with the state lobbying to the EU, German Chancellor Olaf Scholz said, cited by Bloomberg,

  • The support will benefit energy-intensive companies such as chemicals – as “it is obvious their electricity demand will increase,” Scholz added.
  • Germany’s industry has been struggling in recent years, with Volkswagen voicing complaints of economic woes.
  • And German firms are considering relocating amid high energy prices and less reliable supply – which led to 37% contemplating reducing production or shifting abroad, up from 31% in 2023.
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Germany is planning on enlarging the state support for companies being impacted by higher power bills, with the state lobbying to the EU, German Chancellor Olaf Scholz said, cited by Bloomberg,

  • The support will benefit energy-intensive companies such as chemicals – as “it is obvious their electricity demand will increase,” Scholz added.
  • Germany’s industry has been struggling in recent years, with Volkswagen voicing complaints of economic woes.
  • And German firms are considering relocating amid high energy prices and less reliable supply – which led to 37% contemplating reducing production or shifting abroad, up from 31% in 2023.