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Germany Set to Subsidise Up to 80 Per Cent of Energy Costs for Industry

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GREEN BAILOUT: German Vice Chancellor and Green Party politician Robert Habeck proposed a plan for up to 80 percent of industrial energy costs to be subsidized amid green agenda failures.

German Vice Chancellor and Green Party politician Robert Habeck has proposed a scheme that would see the government subsidise up to 80 per cent of the electricity costs of certain industries amid the ongoing energy crisis induced by decades of failed green agenda policies and over-reliance on Russian gas.

Minister for Economic Affairs and Climate Action Robert Habeck has proposed a plan that would guarantee large swaths of German industry electricity prices at a subsidised price of €0.06 per kilowatt hour until at least 2030. Currently, the average electricity cost for businesses in Germany stands at around €0.25 per kWh including taxes.

Yet, the proposal from Habeck may face some opposition, with the so-called ‘traffic light’ coalition government of Chancellor Olaf Scholz becoming increasingly divided on economic matters.

 

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