Germany needs to produce more energy from renewable sources to reduce its dependence on fossil fuel imports and cope with expected natural gas shortages, Chancellor Olaf Scholz said, according to Bloomberg.
Energy security will be an issue for “weeks, months and years,” Soltz said in a video message released today.
Germany is building liquefied natural gas terminals, pumping more natural gas into storage systems and boosting the use of coal plants to reduce reliance on Russian fuel amid soaring energy prices and the threat of sudden supply cuts.
Solz compared the price hikes to the inflation crisis of the 1960s and 70s. His government has come up with an aid package worth more than 30 billion euros ($30.6 billion) that includes scrapping a surcharge on electricity energy, the steep discount on public transport tickets and the provision of one-off payments of €100 per child and €300 for every income tax payer.
Germany “will be a climate-neutral, economically strong industrial nation,” Scholz said.
Source: Capital
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