Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Germany Promises Tackling Rising Energy Prices


Mon 10 Jan 2022 | 12:54 AM
Taarek Refaat

Germany has seen a historic rise in energy prices which resulted from the lifting of COVID-19 restrictions and the resulting demand for depleted gas stocks.

Two policymakers told Reuters that German government is stepping up efforts to help consumers hit by rampant wholesale energy prices that are starting to hurt low-income families.

"We are working hard to find solutions for families who are now facing difficulties," SPD General Secretary Kevin Kuehnert said in comments released on Sunday.

"It has always been our priority that we will protect citizens on a tight budget who suddenly find themselves caught up in social and global developments," he added, pointing out that the government favors "non-bureaucratic and prudent" solutions designed to meet inpidual needs.

The newly installed Federal Building Department did not provide the one-time heating subsidy payments the coalition agreement promised to help the few hundred thousand families receiving housing subsidies.

On Thursday, Finance Minister Christian Lindner of the FDP promised to make the related funding available.

Heating costs are promised to be paid in full to families who are entirely dependent on income support.

"Even if purchase costs go up, such shocking price increases are not justified," the minister for environment and consumer protection, Steffi Lemke said.

It is noteworthy that half of homes in Germany are heated by gas and a quarter by heating oil.