Germany to restrict company access to gas levy proceeds - sources


Reuters | Berlin | Updated: 20-09-2022 13:46 IST | Created: 20-09-2022 13:31 IST
Germany to restrict company access to gas levy proceeds - sources
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Germany's gas levy draft law should be agreed by the cabinet by the end of September and will impose restrictions on gas importers benefiting from its proceeds, three parliamentary and industry sources told Reuters.

Berlin plans to impose a gas levy on consumers from Oct. 1 aiming to help importers with the additional costs of replacing Russian gas. Companies receiving aid through the levy should have at least 1% of the market share, the sources said.

The levy draft bill excludes companies that made profits and would impose restrictions on the salaries that managers receive if the company is benefiting from the levy, they added.

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