The gas price brake is much cheaper for German taxpayers than expected. The Munich Ifo Institute now expects costs of 13.1 billion euros, as announced on Wednesday. That is a third of the originally planned sum of 40.3 billion euros.
“The reason is that gas prices have fallen sharply since then,” said Ifo expert Max Lay. “In 2024 we expect zero expenses, because many newly concluded gas contracts for normal consumers are already falling below the price limit of 12 cents per kilowatt hour.” Industrial customers have not had to pay more than the 7 cents set by the price brake for a few months.
However, Lay warned: “Even if the energy markets have calmed down, the estimate of the costs for the state is still associated with a high degree of uncertainty, since it is based on a forecast of the market prices for the respective consumption groups”.
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According to the expert, almost 12.4 billion of the 13.1 billion euros are attributable to households and small and medium-sized enterprises. Industry accounts for almost 700 million. Gas-fired power plants and larger residential units would not be relieved.
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