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Germany: Revision of the extraordinary ‘natural gas tax’ announced by the Minister of Economy

The Social Democratic Party (SPD) and the Liberals (FDP) are calling for changes to the emergency “gas tax”, forcing Economy Minister Robert Habeck (Greens) to announce a review of the measure, which was aimed at rescuing energy providers, which they now procure their product much more expensively.

“In the end, Parliament has the say – and it will use it,” SPD leader Saskia Esken warned last night, pointing out that not all energy companies need bailouts. “Those who are financially sound are not allowed to benefit from the planned fee,” Esken said.

On the FDP’s side, its leader and Finance Minister Christian Lindner, speaking on German public broadcaster ZDF’s second channel, called for “more targeted” measures, stressing that “a solidarity measure should not be used so that some companies simply maintain performance them and make extra profits”. He even meaningfully noted that the issue is being handled by Habeck, who “will now have to look at it more carefully to benefit consumers.”

The Minister of Economy requested, following the reactions, to review the group of twelve companies that would benefit from the extraordinary fee of 2.419 cents/kWh, which was to be imposed from October 1, transferring 90% of the increased energy purchase costs to the consumers, so that the providers do not collapse.

“The benefiting companies should be limited as much as possible,” Habeck said today, speaking to businessmen. “We have a political problem that has spoiled my mood for the last 48 hours,” the minister said, referring to a “justified claim” by his coalition partners.

However, he insisted that the extraordinary gas tax was the right decision, but admitted that “it is not morally right for those who have made a lot of money to ask consumers for extra help” and said that if the measure is not properly structured, there will be appeals and likely collapse as a whole, driving many companies into bankruptcy, with serious consequences for their customers.

Source: RES-MPE

Source: Capital

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