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Germany’s Energy Crisis Deepens as Local Utilities Cry for Help

  • Liquidity needed to ease pressure on suppliers to households
  • Government needs to respond ‘fast,’ lobby group chief says
Bloomberg business news
Gas Prices Surge as Russia Keeps Crucial Pipeline Closed

Germany’s fears that soaring power and gas prices could trigger a deeper crisis is starting to get real. 

Several hundred local utilities are coming under strain and need support, according to the head of Germany’s largest energy lobby group. The companies, generally owned by municipalities, supply households and small businesses directly and are a key part of the country’s power and gas network.