Energy Economy

16 Aug 2022

German Energy Market Would Collapse Without Gas Levy - Habeck

16 Aug 2022  by   

German Economy Minister and Vice Chancellor Robert Habeck arrives to address the media after the announcement of the gas levy at Federal Ministry for Economic Affairs and Climate Action, in Berlin, Germany August 15, 2022. REUTERS/Annegret Hilse

Germany had to introduce its new levy to help utilities cover the cost of replacing Russian supplies or else its energy market would collapse, Economy Minister Robert Habeck said on Monday.

"The alternative would have been the collapse of the German energy market, and with it large parts of the European energy market," Habeck told reporters in Berlin.


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