Berlin to launch “painful” gas saving scheme to secure next winter’s supply

Euractiv | Jun 20, 2022 at 7:53 AM
  • Faced with low gas flows from Russia, the German government will burn more coal in summer, pay the industry not to use gas and provide billions of euros in loans to merchants for gas purchasing.
  • Habeck is introducing a new set of measures aimed at reducing demand from industry, demand from electricity production and providing gas traders with state loans to allow for additional gas purchasing.
  • To that end, it will receive a loan of €15 billion from state bank KfW, as German state broadcaster tagesschau reported, citing government circles, to have the necessary liquidity to purchase gas and bring the country’s gas storage levels forward.