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BERLIN, July 4 (Reuters) – Germany’s energy-intensive firms will have the ability to apply till the top of August for presidency help of as much as 50 million euros ($52.10 million) every to deal with hovering gasoline and energy prices, an economic system ministry doc seen by Reuters on Monday confirmed.
The subsidies will likely be allotted in keeping with the extent of the impression on the corporate of the surge in vitality costs attributable to a standoff between the West and Moscow after Russia’s invasion of Ukraine, the doc mentioned.
Germany’s authorities in April introduced it deliberate to supply help value greater than 100 billion euros in a “protecting defend” for firms whose essential concern was short-term liquidity. learn extra
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For vitality intensive industries, it mentioned it deliberate a short lived price subsidy and early in June, the economic system ministry mentioned it had earmarked 4 bln euros for that sector.
Their vitality payments from February to September will likely be examined to find out how a lot help they’ll obtain, in keeping with the doc seen on Monday. The economic system ministry didn’t instantly reply to request for remark.
($1 = 0.9597 euros)
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Reporting by Christian Kraemer and Markus Wacket; Writing by Sarah Marsh; enhancing by Barbara Lewis
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