German Chancellor proposes heating subsidies to alleviate energy crisis OLASMEDIA TV NEWSThis is what we have for you today:
German Chancellor Olaf Scholz has introduced a new plan to alleviate the ongoing energy crisis for the coming winter, including subsidies for home heating and a bailout of a major gas supplier.
Chancellor Scholz announced on Friday that his government would introduce a major aid package to ease the burden on Germans heading into winter as gas supplies from Russia have become limited.
Part of the plan will be a permanent heating subsidy designed to keep heating costs down for Germans, and Chancellor Sholz promised there would be legal protections for Germans unable to pay their rent, heating or electricity bills. picture reports.
Further emergency measures are expected in the near future, as Scholz spoke of upcoming talks with several unions and another meeting on the energy crisis is set to take place in mid-September.
Chancellor Scholz also announced that major German gas company Uniper would receive a rescue package worth about 15 billion eurosmaking the German federal government a 30 percent shareholder of the company.
Fortum, the Finnish majority shareholder of Uniper, has released a statement on the bailout saying it has agreed to the German government’s proposed package.
“We are living through an unprecedented energy crisis that requires robust measures. After intensive but constructive negotiations, we found a solution that satisfies the interests of all parties involved in an acceptable manner,” said Fortum CEO and President Markus Rauramo.
A third of Germans want an apology from Merkel over energy crisishttps://t.co/loHH12Hdc5
— Breitbart London (@BreitbartLondon) July 22, 2022
Uniper needed the bailout because the company has been buying gas at increasingly higher prices in recent months, but has been unable to pass the additional costs on to consumers.
Germany’s gas supply is also in trouble, as the government does not appear to be on track to meet its goal of having its gas storage facilities 90 percent full by November. slightly less than two thirds, or 64.81 percent of the storage capacity is filled.
Earlier this week, Russia reopened the Nord Stream 1 pipeline after a 10-day shutdown for maintenance, but gas flow remained well below capacity at just 30 percent. The pre-maintenance level was 40 percent.
EU considers gas rationing across bloc as public is told prices will triplehttps://t.co/mTporEcZ7P
— Breitbart London (@BreitbartLondon) July 15, 2022