Rising energy prices: Habeck announces larger protective shield for companies

Rising energy prices: Habeck announces larger protective shield for companies

Federal Minister of Economics Robert Habeck (Greens) has announced new aid programs and a significantly larger energy protection shield for companies in autumn and winter due to the threat of operational closures.

“I am concerned about economic development. The high energy prices, wheat prices and disrupted supply chains put many companies under enormous pressure,” Habeck told the editorial network Germany.

This is a “serious problem” for small and medium-sized companies in particular, said the Vice Chancellor. “There is a threat of operational closures and we must address it. That is why we will expand the aid programs.”

“There is already a protective shield under which small and medium-sized companies can already slip,” said Habeck. “But one thing is clear: for autumn and winter we have to open up the protective shield more. We are working on this with high pressure and concentration so that we can provide targeted and effective support,” emphasized the Green politician. “We calibrate the programs and expand them.”

A spokeswoman for Habeck had already said on Wednesday that impending operational closures due to energy costs were a serious problem, especially for small and medium-sized companies.

Meanwhile, the Association of German Chambers of Commerce and Industry complained that prices had reached a level that threatened the existence of many companies. “More and more companies are reporting to us that they no longer have a supply contract for electricity or gas at all. The tap is turned off in the truest sense of the word,” DIHK President Peter Adrian told RND. “But without energy, no economy can run.” (AFP/dpa)

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