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Germans face higher bills as tax aids natural gas importers

KTVZ

BERLIN (AP) — Germans are facing a new tax on natural gas use that could cost the average household several hundred euros a year and is aimed at rescuing importers slammed by Russian cutbacks tied to the war in Ukraine. An association of gas pipeline operators set the level at 2.4 euro cents per kilowatt hour under legislation passed by the German parliament. The gas tax will raise money to compensate importers of Russian gas whose contracts with city utilities don’t permit them to pass on the costs of surging natural gas prices. Russia has sharply cut back supplies of that costs less under long-term contracts, forcing importers to buy much more expensive gas on the spot market.

Article Topic Follows: AP National Business

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Associated Press

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