Tuesday, August 16, 2022

Germans face higher bills as tax aids natural gas importers


 A new natural gas tax designed to keep importers afloat amid an energy crisis prompted by Russia’s SP.OP. in Ukraine is set to cost German families, who will have to foot the bill for the tax, an extra $500 a year.

Starting on October 1st and running through April 2024, according to Reuters, the new natural gas tax aims to help German utilities, most notably Uniper, recoup costs related to replacing supplies from Russia.

The tax will reportedly cover approximately 90% of new costs faced by providers.

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