Media: a number of municipal services in Germany may go bankrupt due to the energy crisis

MOSCOW, 7 Sep — PRIME. A number of municipal services in Germany may go bankrupt due to the energy crisis, according to the portal Euractiv.

“Municipal services are watching with great concern the sharp increase in purchase prices for electricity,” the portal quoted a representative of the German association of local utilities (VKU) as saying. As energy prices rise, the start-up costs of energy trading increase, and the cheap contracts previously negotiated won’t last forever. “The worst is yet to come,” said a source from the municipal service Euractiv.

Services that supply gas, water and electricity locally need a “shield”, says a VKU spokesman. However, a representative of the German Ministry of Economy told Euractiv that assistance will be provided only when the government is interested in it, and the desired goal cannot be achieved in other ways.

“There is no legal right to stabilization; decisions must be made on an individual basis,” the agency’s representative quoted the portal as saying.

After the start of a special military operation to denazify and demilitarize Ukraine, the West stepped up sanctions pressure on Russia, which led to an increase in prices for electricity, fuel and food in Europe and the United States. Russian President Vladimir Putin has previously stated that the policy of containing and weakening Russia is a long-term strategy for the West, and sanctions have dealt a serious blow to the entire global economy. According to him, the main goal of the West is to worsen the lives of millions of people.