11/23/2022, 10:09 AM (Source: TeleTrader)
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Scholz: Subsidies won't fully halt energy prices

German Chancellor Olaf Scholz said on Wednesday that the subsidies will not be able to fully halt the rises in energy prices. Nevertheless, he stressed that this measure will reduce them to a "tolerable level."

Addressing the Bundestag, Scholz said that the country's "energy security is probably guaranteed for this winter," as he referred to the full gas storage, new supply contracts, the reinstatement of coal-fired power plants, and temporary work of nuclear power plants.

"Germany has the strength to master the crisis and emerge stronger from it," Scholz highlighted, adding that Berlin is "doing away with the failings of an energy and trade policy that has led us into one-sided dependence on Russia and China."

Baha Breaking News (BBN) / AY