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Click here to see over 150 global oil prices
Click here to see over 150 global oil prices
Start trading CFDs on over 2200 more instruments
Click here to see over 150 global oil prices
Click here to see over 150 global oil prices
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Click here to see over 150 global oil prices
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The German government plans to spend up to $82. 8 billion (83. 3 billion euros) to fund a planned cap on electricity and fuel costs next year as it seeks businesses and consumers to cope with higher energy costs, Reuters reported over the weekend, bringing up a draft proposal it had seen.
Last month, a panel of experts proposed measures to mitigate the effect of rising energy costs on consumers, with measures adding a one-time payment and subsidizing more than a portion of planned fuel consumption.
The Commission will then propose measures to mitigate the effect of high energy costs on large commercial consumers.
Germany’s independent fuel commission has submitted a final proposal to the government, calling for a fuel value cap of $0. 12 (12 euro cents) per kilowatt-hour to cover 80 percent of family fuel intake from March to April 2024, Reuters reported. Last week. The fuel value cap is intended for families who now face a fuel value more than 2. 5 times higher than in the same period last year, as rising energy values threaten to cause business closures and job losses in Europe’s largest economy.
By Tsvetana Paraskova for Oilprice. com
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