Scholz wants power market reform in place 'this winter' | The Guardian Nigeria News - Nigeria and World News

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German Chancellor Olaf Scholz said Tuesday he wanted to hurry through reforms to the electricity market to ease the pressure on consumers and businesses ahead of the coming European winter.

German Chancellor Olaf Scholz gives a press conference where Germany’s social democratic SPD party named it’s members of the country’s future cabinet, on Saint Nicholas’ Day, December 6, 2021 at the headquarters of their social democratic SPD party in Berlin.

Germany and the European Union have developed proposals to cream off windfall profits from non-gas producers to ease the pressure on consumers and companies buckling under the weight of soaring bills.“You can be sure that this will happen at the speed necessary to get it under control this winter,” Scholz said.

The government has also unveiled a 65-billion-euro plan to ease the pressure of energy-price inflation, including cash for pensioners and students.

 

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