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German cabinet agrees to gas levy for consumers from October

BERLIN (Reuters) - Germany's cabinet has agreed to introduce a planned levy on gas consumers from October to help suppliers hit by soaring gas import prices caused by Russia's...
German cabinet agrees to gas levy for consumers from October © Reuters.

BERLIN (Reuters) - Germany's cabinet has agreed to introduce a planned levy on gas consumers from October to help suppliers hit by soaring gas import prices caused by Russia's invasion of Ukraine, the economy ministry said on Thursday.

The plan, announced last week, comes as Europe's biggest economy tries to reduce its dependence on Russian energy. It is facing a collapse in gas supplies and soaring prices, raising fears of energy shortages and insolvencies among gas traders.

"The temporary levy is a result of the crisis caused by Russia. It is not an easy step to take, but a necessary one to guarantee heating and energy supply in private households and the economy," said Economy Minister Robert Habeck in a statement.

The levy on consumers, to be accompanied by targeted relief, is aimed at helping importers, especially Uniper, Germany's largest recipient of Russian gas, which is receiving a state bail-out. Other companies include EnBW's gas division VNG.

The levy is expected to take effect from Oct. 1 and end on April 1, 2024, said the ministry.

Its exact size will be published in mid-August, said the ministry. Habeck said last week it would be between 1.5 euro cents and 5 euro cents per kilowatt hour (Kwh), with the proceeds available to any company having to replace Russian gas.

Government and parliamentary sources have told Reuters it still has to be clarified how the levy will be applied to customers with fixed-price contracts.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

-0.0008 (-0.07%)

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EUR/USD

1.0658

-0.0008 (-0.07%)

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GBP/USD

1.2475

-0.0015 (-0.12%)

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USD/JPY

157.91

+0.12 (+0.07%)

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AUD/USD

0.6469

-0.0003 (-0.05%)

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USD/CAD

1.3780

+0.0003 (+0.03%)

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168.32

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0.9808

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    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
(8,300/ 8,500) # 1,298
SJC 1L, 10L, 1KG8,300/ 8,520
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SJC 1c, 2c, 5c7,380/ 7,550
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SJC 0,5c7,380/ 7,560
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SJC 99,99%7,370/ 7,470
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SJC 99%7,196/ 7,396
(0/ 0) # 386
Cập nhật 01-05-2024 10:45:19
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