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Scholz-Higher Energy Prices To Hit Everyone, Looking At Relief Measures

GERMANY

Chancellor Olaf Scholz delivering a presser on Germany's energy supply situation and that of gas major Uniper.

  • Scholz: We have come to an agreement that the gov't will take a stake of 30% in Uniper...Gov't will make up to EUR7.7bn available as hybrid capital, and will expand KFW credit line to eUR9bn.
  • Scholz: Higher energy prices will be felt by everyone at some point, which is why we are looking at relief measures.
  • Scholz: Higher gas prices will be passed on to consumers from the first of September or October.
  • Scholz: The gov't plans additional measures to ease energy price increases...There will be legal protections for citizens who have problems paying their energy bills. [adds in English "You'll never walk alone"]
  • Scholz says energy measures to be in place by 'early next year'.
Scholz's Social Democrats still polling around multi-month lows, with opposition CDU and Scholz's coalition allies the environmentalist Greens holding more support than the chancellor's party.
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