Germany plans to relieve some companies from new CO2 levy
9/22/2020
Germany's government plans to offer companies with high energy consumption relief on a new charge on CO2 emissions, a document shows.
Companies that compete internationally cannot pass the costs of the levy on oil, gas or coal on to customers by raising prices so should be partially reimbursed, said the paper, which Chancellor Angela Merkel's cabinet is due to approve this week.
This would mostly affect firms in the chemical, steel or auto sectors.
Government sources revealed the compensation would amount to several hundred million euros per year.
Starting next year, Germany wants to introduce a CO2 tax on all fossil fuels, which will increase over time.
(Reporting by Markus Wacket Writing by Madeline Chambers Editing by Thomas Escritt)
Sign up to Receive Our Newsletter

- U.S. ethane exports to China hit new roadblock with license requirement
- Australia clears Woodside to run North West Shelf LNG plant to 2070
- Egypt agrees to buy up to 160 LNG cargoes through 2026
- Shell to add up to 12 MMt of additional LNG capacity by 2030
- Woodfibre LNG sets new benchmark as world’s first net-zero LNG export facility
Comments