Germany Opens the Door to High Inflation, with an 80% Green Energy Bill Subsidy Proposal
18 hours ago Eric Worrall 55 Comments
Essay by Eric Worrall
The plan is to continue the subsidy, until investment in renewables brings energy prices down.
Germany considers electricity price cap to support industry
05/05/2023May 5, 2023
Economy Minister Robert Habeck wants to support German industry for years to come with lower electricity prices. His electricity price cap proposal is intended to ensure that energy-intensive companies remain in Germany.
Germany’s Economy Minister Robert Habeck on Friday unveiled plans to cap electricity prices for energy-intensive industries to protect the sector from sharp cost increases.
According to the plan, the upper limit of €0.06 (roughly $0.07) per kilowatt hour (KWh) should apply until 2030.
It should cover at least 80% of the electricity consumption of a clearly defined group of German companies from energy-intensive industries such as chemicals, steel and glass manufacturing.
https://wattsupwiththat.com/2023/05/08/germany-opens-the-door-to-hyperinflation-with-an-80-green-energy-bill-subsidy/
