The German Ministry of Economy considers gas prices high, but not explosive

BERLIN, 8 Sep – PRIME. German gas storage facilities are filling up, while gas prices are high, but not explosive, German Economy Minister and Vice-Chancellor Robert Habeck said Thursday in the Bundestag.

“There is no gas from Russia for a week, storage facilities continue to fill up, after a short rise on the stock exchange, prices are still high and very high, but not explosive. We have been independent of Russian gas for a week thanks to the consistent and prudent ability to act on the part of this government,” he said .

Khabek also expressed the opinion that “the most important thing remains to put an end to the manipulation of prices” for energy resources by Moscow, since “we will not be able to support companies and the population in connection with the rising cost of gas, oil and coal in the long term.” In this regard, the minister proposed “to change the design of the energy market” in such a way that the final price for the consumer would be profitable, and high prices would be smoothed out using market mechanisms.

“Until we succeed in lowering prices, which will take a little more time, we will provide companies with any support. We will establish a comprehensive support program so that small enterprises first of all get into it … We will make it industry-wide, adhering, of course, to criteria… We will protect German businesses and the middle class,” he said.

Habek added that the country is experiencing the deepest energy crisis since 1973, but “this crisis is much more complex, the tasks are much larger.”