Lower Saxony's metalworking employers welcome electricity price reduction
The reduction in the electricity tax for industry planned by the federal government has met with approval from metalworking employers in Lower Saxony. "This is good news for the ailing German economy," said Volker Schmidt, Managing Director of the employers' association NiedersachsenMetall, in a statement on Thursday. "Energy-intensive industry in particular, but also the manufacturing sector, will finally be relieved of the immense electricity prices." Lower Saxony, with its numerous energy-intensive automotive suppliers, will also benefit from this. "Our companies can thus regain some of their competitiveness."
The German government wants to reduce the price of electricity for industry through a tax reform. According to the German Press Agency, plans include a significant reduction in electricity tax for the manufacturing industry and an expansion of the existing electricity price compensation for companies that are particularly affected by high electricity prices. The "Handelsblatt" had previously reported on the plans.
The proposed reduction in electricity tax for the manufacturing sector by the German government is expected to alleviate the burden of high energy prices for energy-intensive industries. As a result, these industries, including those in Lower Saxony, may be able to regain some of their competitiveness due to lower electricity prices.
Source: www.dpa.com
