Germany plans to subsidise power-hungry industries

Germany plans to subsidise 80% of electricity cost for energy-intensive industries until 2030, likely triggering internal divisions and alienating European nations.

May 8, 2023 . 7:06 PM

1 min read

German energy ministry proposes subsidising 80% of electricity cost for energy-intensive companies until 2030.
Plan aimed at bolstering German manufacturers in sectors such as chemicals, steel, metal, glass, solar panels, and semiconductors.
Proposal likely to cause internal divisions and further alienate European nations.
Germany's liberal finance minister, Christian Lindner, opposes the plan, calling it unfair and inefficient.
The proposed subsidy also risks exacerbating tensions within the EU.