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    Germany's energy price caps cost 18 bln euros through July - econ min

Summary

Germany spent 18 billion euros ($19.67 billion) on its electricity and gas price brakes as of the end of July, the economy ministry said on Wednesday, part of a 200-billion euro relief package Berlin set out last year to shield households and firms from surging energy prices.

by: Reuters

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Germany's energy price caps cost 18 bln euros through July - econ min

BERLIN, Aug 16 (Reuters) - Germany spent 18 billion euros ($19.67 billion) on its electricity and gas price brakes as of the end of July, the economy ministry said on Wednesday, part of a 200-billion euro relief package Berlin set out last year to shield households and firms from surging energy prices.

Including a one-off payment for consumers in December, the total energy relief had cost 22.7 billion euros, the ministry added.

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Berlin envisaged spending some 83 billion euros on those price brakes this year, the economy ministry said earlier this year, but falling energy prices on futures markets meant less aid could be needed. ($1 = 0.9152 euros) (Reporting by Riham Alkousaa Editing by Miranda Murray)