With a package worth billions, the traffic light coalition wants to help citizens and companies with energy costs. The package now passed the cabinet. The Bundestag is to deal with it this week.
The federal government has launched the planned 200 billion euro umbrella to combat the energy crisis. The necessary cabinet decision was made, as announced by the Federal Ministry of Finance. It is planned to reactivate the Economic Stabilization Fund (WSF) set up during the Corona period and to equip it with 200 billion euros in new debt. The funds can then be used until mid-2024.
In particular, the planned gas price brake is to be financed from the reactivated WSF. Aid for ailing gas importers should also flow from the pot. In the case of the electricity price brake, which is also planned, the fund is intended to guarantee interim financing – the plan is actually to skim off “accidental profits” from electricity producers and use them to subsidize a basic electricity requirement.
A legally stipulated earmarking ensures that the funds of the WSF can only be used “for the measures necessary due to the extraordinary emergency situation,” emphasized the Ministry of Finance. It is about “cushioning the rising energy costs and the worst hardships for citizens and companies”. The protective shield also contributes to “maintaining economic capacities and reducing economic damage”.
It is still unclear how exactly the 200 billion will be used. The gas commission set up by the government had made proposals for gas price relief the day before, which would cost around 96 billion euros. Up to 50 billion euros are provisionally earmarked for the stabilization of large gas importers. They suffer from the fact that Russian supplies are missing and they have to buy gas elsewhere on the market for a lot of money in order to meet their obligations to customers.
A so-called formulation aid for the coalition factions in the Bundestag was decided in the cabinet. This procedure serves to speed up parliamentary legislation. The Bundestag is to discuss the project for the first time on Friday.
A new Bundestag resolution for an exemption from the debt brake is also necessary. There is already an exception for the current year. However, since the reactivation of the WSF requires even more money than previously planned, the Bundestag must vote again.
