Berlin pledges government aid to combat soaring energy prices

14 August 2022, 12:23 PM
Olaf Scholz (Photo:Uwe Anspach/REUTERS)

Olaf Scholz (Photo:Uwe Anspach/REUTERS)

The German government is ready to provide state assistance to German citizens affected by the energy price crisis, Chancellor Olaf Scholz said via the official German government podcast Kanzler Kompakt on Aug. 13.

“We will face major challenges this year; challenges, caused by the Russian war against Ukraine,” said Scholz.

“Challenges to our national energy security. And, of course, the challenges posed by rising prices.”

Outlining the steps his government has taken to prepare for the coming winter, Scholz mentioned building a series of LNG (liquid natural gas) terminals, restarting a number of coal-fired power plants, and looking into possibly postponing planned closures of the three remaining German nuclear power plants.

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Additionally, Germany has allocated EUR 30 billion ($30 billion) in government assistance to the German population.

Ukrainian diplomat and Energy Ministry adviser Lana Zerkal recently said that Europe is preparing for Russia to completely halt natural gas supply.

Russian state-owned gas giant Gazprom has already reduced the throughput of Nord Stream-1 pipeline to 20% of its nominal capacity, and is in breach of existing gas supply contracts. These steps have left Russia’s reputation as a trustworthy business partner in tatters.

Russian dictator Vladimir Putin is clearly hoping to use energy blackmail to coerce the EU into renouncing its support of Ukraine.

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