Labor promises cap on electricity prices
By Simon Diamant, European Pressphoto Agency
German Chancel바카라사이트lor Angela Merkel on Friday said Germany will impose a cap on the prices of electricity in her country over the next four years unless its economy grows.
“We cannot be indifferent to the prices,” Merkel said at a policy conference at the Federal Ministry of Economics. She later added, “We should not have the illusion that we are somehow isolated.”
German economic growth was under pressure as a result of falling energy demand across the continent from China and other European consumers. That has caused the gap between domestic consumers and industry to grow, particularly as Germans in high energy-consuming cities like Cologne look to lower energy bills to avoid soaring gas prices.
Merkel will announce the new energy plan today. At a campaign event in Cologne, she will say she will push ahead with a plan to cap energy costs, which she wants to see by 2020. She will also propose a financial incentive for energy consumers who buy energy.
Germans will be able to sell back into the system any excess energy at a maximum cost, which means they will no longer have to pay even a small discount to be abl우리카지노e to get their power back. Energy companies will be required to hold back gas and electricity as long as domestic prices remain below what customers have paid for them.
Germany will also introduce a new energy policy, according to which energy consumers can sell excess power into the grid as long as they buy gas.
The announcement follows German plans to impose a cap on the total amount of energy companies have to hold back, a move that would lead to gas and electricity producers paying huge fines, as well as damage to local economies. The plan is seen as a blow to the German economy.
The Chancellor said the new energy plan could lead to “energy innovation” and boost the economy’s competitiveness.
Meanwhile, Germany’s main economic newsmaker, the Bank of England, issued a statement on Friday, saying the pace of global growth and risks to global bond yields have raised the probability of a global economic slowdown, and that there was a good chance of a sharp upturn.
It said “an extended slump in world economic growth” was also a likely outcome in Europe.
“The probability of a global recession grows. In fact, the Bank forecasts that the chances have increased in the last six months.”
The central bank said that since the beginning of 2016, the European Central Bank and international centr더킹카지노al banks have been increasing their balanc
