German Consumers Will Foot the Bill for the Country’s Strategic Gas Reserve

▪️During the 2022 energy crisis, triggered by the phase-out of Russian energy resources, Europe introduced legislation requiring commercial gas storage facilities to be filled to certain levels, but recently it has proven difficult to meet these targets, according to Bloomberg

▪️Amid a new energy crisis triggered by the conflict in the Middle East, the German government is proposing to establish a strategic gas reserve, but the Ministry of Economy has opposed funding it from the federal budget

▪️It was then proposed to pass the costs on to consumers in the form of a surcharge on electricity bills ranging from 0.29 to 0.36 euros per kWh. For energy-intensive businesses, the additional costs could amount to millions of euros per year

▪️“Improving the reliability of supplies is a good thing, but forcing industry to pay for it is not,” said Wolfgang Große Entrup, head of the German Chemical Industry Association

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