Status: 08/30/2022 11:26 am
After much criticism, Economics Minister Habeck gave details of how he wants to change the gas levy. Revenue from this could only benefit companies that meet certain additional criteria.
Federal Minister of Economics Robert Habeck (Greens) has specified his plans for improvements to the gas levy. in the Deutschlandfunk Habeck basically defended the planned allocation, but announced changes. Not all companies in the energy and utility industry should benefit from this. You have to “push the free riders off the footboard,” said Habeck.
The minister named three additional criteria that can be used to prevent the money from going to the wrong companies. Only companies that are “relevant” to the security of supply in Germany should receive support.
In addition, the gas business in question must have a relevant size within the company itself. The question is whether companies “make big profits in other areas because they still have X coal-fired power plants or sell gas elsewhere”. For certain foreign energy companies, both could mean that they do not qualify for the levy after all.
No bonuses and dividends
As a third criterion for claiming the gas surcharge, Habeck stated that state-supported companies were not allowed to pay out any bonuses or dividends. In order to get support, all books would have to be disclosed. That alone could be enough “to weed out these companies”.
Criticism had previously been voiced that companies that are doing well economically could also benefit from the levy. In his ministry, the priority was to prevent the gas supply from collapsing, said Habeck. The minister admitted that insufficient attention was paid to the problem of free riders, who are not dependent on the money from the levy.
Uniper as the biggest beneficiary
To date, there have been fairly broad requirements for companies applying for support from the gas levy. The criteria only provided that a company imports natural gas to Germany, is directly affected by the supply disruptions from Russia and concluded the contracts before May 1st.
As a result, corporations such as the Austrian utility OMV also filed claims. The company had made billions in profits in the first half of the year. Overall, the Federal Ministry of Economics has so far assumed claims from energy companies amounting to around 34 billion euros, which are to be reimbursed via the gas levy. The largest part is to flow to the ailing German gas trader Uniper.
According to Habeck, according to the previously planned rules, “between five and eight percent” of the billions in the levy would go to companies that didn’t need it. “This sum is not exorbitant, but it is still wrong, even if it is a comparatively small sum,” said the Green politician.
fear of bankruptcies
Habeck described the gas levy as a necessary means of distributing the high prices “as fairly” as possible across Germany. The surcharge is intended to compensate for the sharp rise in costs for large importers due to the shortage of Russian gas supplies in order to protect them from bankruptcy and the energy system from collapsing. All gas customers should pay an additional 2.4 cents per kilowatt hour for the surcharge from October.
Previously, Habeck had explained at an event in Berlin that one had to prepare for a future without Russian gas supplies. These would “not come back either”. Without the gas surcharge, gas importers would hardly be able to maintain their credit ratings. The companies then received no more loans and could no longer procure gas.
The coalition partner SPD, among others, had called for a correction to the previously planned gas levy. SPD leader Lars Klingbeil said yesterday in the ZDF, it is important to correct mistakes quickly. “It cannot be conveyed to people that companies that make billions in profits now get billions in tax money on top of that.”