Germany extends energy subsidy plan

Gas prices for consumers and small-to-medium-sized businesses will be capped at 0.12 euro per kilowatt hour and electricity at 0.40 euro for 80% of their previous year’s consumption. – Reuters

BERLIN: Consumers and businesses in Germany will receive subsidies to soften the blow of higher natural gas and electricity prices starting in January, two months earlier than originally planned, officials say.

The move is part of a larger pot of almost 300bil euros (RM1.42 trillion) in subsidies that the German government is cooking up to address the energy crisis resulting from Russia’s war in Ukraine.