The German government will introduce an energy levy to fund the construction of a national gas reserve. German industry, which is already struggling with soaring energy costs, will bear the brunt of the levy.
Germany’s Ministry of Economic Affairs confirmed this week that it will build a strategic gas reserve equivalent to 10% of the country’s storage capacity – two weeks of wintertime usage – in order to guarantee supplies if imports are cut off. The reserve will be filled over 2027 and 2028, and will cost €1.5 billion ($1.7 billion) to establish, and up to €310 million per year to maintain, according to Bloomberg.
The reserve will not be…
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