Thursday, December 1, 2022

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Brake on the price of gas in Germany? Spain shows how it can be done better

The federal government is looking for a solution to amortize gas and electricity prices. Other EU countries have already introduced measures. An overview.

Many European countries have capped electricity or gas prices for months to protect their citizens from high energy costs. Now she wants it too

The federal government protects consumers and businesses in the energy crisis with their “double boom” worth up to € 200 billion. However, other EU governments have criticized that this gives Germany an advantage over other countries that have less financial resources. Chancellor Olaf Scholz (SPD) keeps repeating that the package is appropriate given the size of the German economy and that other countries are doing something similar.

But: according to the calculations of the Bruegel think tank in Brussels, the federal government plans to spend up to 300 billion euros on aid, including the “double boom”. This corresponds to around 8% of Germany’s gross domestic product (GDP). In Spain, for example, the corresponding percentage is only 2.9 per cent, in the Netherlands it is around five per cent. What are other European countries doing? An overview.

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