Germany draws up gas auction plan for emergency

Germany's energy regulator unveiled further plans on Tuesday to reduce industrial gas usage as it fears Russia, which has cut deliveries in recent days, could reduce or even completely halt supplies.

As foreshadowed by the Economy Minister on Sunday, the plans include a new auction system, due to start in coming weeks, to incentivise manufacturing industries, which crucially need gas in high-temperature processes, to consume less energy.

"The regulator is in close talks with the industry and with energy utilities and will push complementary measures with high intensity," the regulator said in a statement.