Federal Minister of Economics Robert Habeck has advocated capping the price of electricity for industry with state funds. “The whole economy is currently talking intensively about an industrial electricity price, and I think we have to do that,” said the Green politician on Friday evening at an event of the editorial network Germany, according to the announcement. That costs money, and that requires agreement in the federal government.
“If we cap prices, we lose money. If we don’t cap them, we may lose the industries of the future,” said Habeck, naming a period of four or five years. Germany must be careful that key technologies do not migrate to China and the USA during this time.
German industry has long complained that electricity prices are a locational disadvantage in international competition. Habeck had already announced that he wanted to present a concept for an industrial electricity price.
BERLIN (dpa-AFX)