Germany plans to earmark between €3.5 billion to €4 billion ($4.7 billion) to ease the burden of high power prices for heavy industries over three years, a key lawmaker in the governing conservative alliance said Wednesday.
That’s well below the up-to-€30 billion that the previous government planned to set aside for energy-intensive industries through the end of the decade. Still, the economy ministry earlier this month presented a package to bring down energy costs for consumers, including a cut to power taxes for industrial consumers and €26 billion relief over four years on grid fees.