Germany to Offer Billions in Relief for Industry Power Bills
- Package to provide €28 billion of support from 2024 to 2027
- Energy crisis battered nation’s manufacturing-heavy economy
Germany’s manufacturing-heavy economy has seen a protracted period of weakness.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
The German government agreed on measures to ease electricity bills for manufacturers over the next five years in an attempt to boost the economy.
The support package is set to provide relief worth up to €28 billion from 2024 to 2027, according to the economy ministry, with €12 billion earmarked for next year. The measures include a substantial reduction in electricity taxes for manufacturers — from €15.37 to €0.50 per megawatt-hour — as well as additional support for particularly energy-intensive firms.