German industry calls for govt action on high energy prices

The Federation of German Industries (BDI) is calling on the government to provide a permanent safeguard against high energy prices and more aid for companies that are particularly affected, reported dpa.

"The BDI expects the German government to quickly come up with a plan that guarantees a secure supply of energy at internationally competitive prices over the long term," it said on Thursday.

The BDI said that not only is the accelerated expansion of renewables and relevant infrastructure needed but also long-term solutions, so that "electricity becomes more attractive to companies and private consumers for the purpose of the transformation."

Additional short-term support is needed for companies facing financial hardships because of increased electricity prices now or in the future.

Existing subsidies for future technologies should be expanded and simplified, and their funding should not lead to cross-subsidization between industrial sectors, the BDI said.