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Germany to Spend €83.3 Billion to Subsidize Energy Prices

  • Government to use €43 billion to reduce cost of electricity
  • Euro-area members have spent €200 billion on energy support
Christian Lindner

Christian Lindner

Photographer: Liesa Johannssen-Koppitz/Bloomberg
Updated on

German Finance Minister Christian Lindner has laid out plans for the country to spend €83.3 billion ($83.4 billion) on gas and electricity subsidies next year, according to a ministry document obtained by Bloomberg.

It shows €40.3 billion will be earmarked to cover the cost of gas and district heating, including a one-time payment in December for businesses and households.