Germany's cabinet approved a draft bill on Wednesday to scrap a gas storage levy for all consumers in an effort to bring down ...

Germany is moving to abolish its gas storage levy, introduced in 2022, to reduce energy bills for households and businesses.

THE, which administers the fee in accordance with legal requirements, previously said it had until Nov. 20 to publish the new levy. The next gas storage fee will be set on July 1, it said.

Berlin introduced in October 2022 the so-called ‘gas storage levy’—a national export duty on natural gas, which has since increased the cost of exporting gas from Germany to Central and ...

Sven Giegold, Germany’s state secretary for climate, announced the U-turn on Thursday, revealing Berlin “is aiming to abolish the gas storage levy at border crossing points with neighboring ...

The current storage levy charge of gas exiting the German grid is of €1.86 ($2.02) per megawatt hour, while the increased price from 1 July will be €2.50 per MWh, according to London-based ...

Austria, the Czech Republic and Slovakia have urged Germany to legislate this month to waive a costly gas levy for neighbouring countries, as the collapse of Berlin's coalition government risks ...

The storage fee will remain in place for domestic customers, rising to €2.99 ($3.10) a megawatt-hour on Jan. 1. It’s collected by market manager Trading Hub Europe, which must ensure storage ...

The Czechs have accused Germany of penalizing its customers before by increasing a gas storage levy to EUR 2.50 per megawatt-hour from EUR 1.86. The country introduced the charge at the peak of ...

As a result, the gas held in storage covers about 30% of the EU’s daily needs during the winter. This proportion can top 50% on the chilliest days, especially if wind speeds are low and ...