Berlin The federal government is receiving positive reactions to the “economic defense shield against the consequences of the Russian war of aggression” announced on Thursday. The defense screen is “a right way” and a “strong announcement,” said Kerstin Andreae, General Manager of the Federal Association of Energy and Water Industries (BDEW).
“In view of the enormously high energy prices, it creates the framework for concrete relief for households and the economy. This will also prevent insolvencies and thus indirectly supports the energy companies in guaranteeing the energy supply,” says Andreae. In addition, the announcement of the rescue package finally brings clarity after the long discussion about the gas levy.
Chancellor Olaf Scholz (SPD), Economics Minister Robert Habeck (Greens) and Finance Minister Christian Lindner (FDP) presented their plans for the defense shield on Thursday. This is to be equipped with up to 200 billion euros and be available in 2022, 2023 and 2024 in order to alleviate the consequences of the drastically increased energy prices for the economy and private consumers. At the same time, Scholz, Habeck and Lindner announced that the planned gas surcharge would not be introduced.
Andreae said it makes sense to fund gas importers’ procurement costs through the Economic Stabilization Fund. The expenses of the energy companies have risen due to the currently immensely high prices in gas wholesale.
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“This way is much less bureaucratic and more effective than financing via the gas procurement levy,” said the BDEW general manager. While a quota model has already been set for the electricity price brake, the federal government should rely on the results of the expert commission for the precise design of the gas price brake, Andreae recommended.
With the third relief package at the beginning of September, the federal government decided to enable basic electricity supply at lower prices. A commission of experts set up by the Federal Government is developing models for a gas price brake and will present its results in October.
The traffic light coalition presents its 200 billion euro package.
(Photo: IMAGO/photothek)
Important industrial sectors also welcomed the plans of the federal government. However, the “double boom” promised by Chancellor Scholz can only work if industry and consumers are equally broadly affected, said Thilo Brodtmann, Managing Director of the Association of Machine and Plant Manufacturers (VDMA). “Industrial medium-sized companies need more security and relief when it comes to their energy costs,” he said.
The federal government was under pressure to replace the controversial gas procurement levy with a better instrument. Therefore, the plan to bring more calm to the markets with a special fund of 200 billion euros is understandable. However, in later years it will represent a significant financial burden on households. “That’s why there must continue to be incentives to save energy and invest in new technologies,” said Brodtmann.
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From the point of view of the real estate industry, the protective shield represents the “last resort”. “The gas price cap has the potential to offer relief to those tenants and companies in particular who cannot bear their energy costs on their own. With this stop sign, the government is strengthening cohesion in this country,” said Andreas Mattner, President of the Central Real Estate Committee (ZIA). The ZIA is the leading association of the German real estate industry. It is now crucial, according to Mattner, to make the brakes as uncomplicated and simple as possible.
Hans Jürgen Kerkhoff, President of the Steel Industry Association, said that the energy price brake announced by the federal government was an important step in the right direction. The steel industry is under existential pressure because of the exploding prices for electricity and gas. “Now it’s all about speed and effectiveness. It’s about bridging the crisis and preventing serious damage to the industrial base,” said Kerkhoff.
Extrapolated for the year as a whole, the additional costs for electricity and gas in the steel companies in Germany are currently around ten billion euros compared to the beginning of the previous year, according to the industry. This corresponds to around a quarter of the annual turnover that the industry has achieved on average in recent years.
More: Cold withdrawal of Russian gas – Germany is threatened with an emergency winter