Gas flames of a cooker are pictured in a private home in Bad Honnef near Bonn, Germany, March 30, 2022. REUTERS/Wolfgang Rattay/File Photo
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FRANKFURT, June 19 (Reuters) – Germany on Sunday announced further steps to shore up gas storage levels, as it seeks to prepare for the next winter season, when it fears Russia could reduce or even completely halt supplies.
Germany’s Economy Ministry, which is in charge of security of energy supply in Europe’s largest economy, said measures would include increased reliance on coal-fired power plants as well as an auction system to incentivise industry to consume less.
It also includes 15 billion euros ($15.8 billion) in credit lines for Germany’s gas market operator, via state lender KfW (KFW.UL), to fill gas storage facilities faster, according to a government source.
($1 = 0.9526 euros)
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Reporting by Christoph Steitz and Andreas Rinke; editing by Barbara Lewis
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