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Germany is preparing to introduce an upper limit on electricity prices this fall if no such price ceiling is introduced at the European Union level, the Wall Street Journal reported on Monday, citing German officials familiar with the matter, reports BNR.

The price cap would protect consumers and businesses from further spikes in energy prices caused by the economic war between Russia and the West over Moscow's invasion of Ukraine.

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According to the officials cited by the financial publication, Germany may tax energy producers who charge more than a certain amount.

These funds will be distributed between network operators and companies that sell energy to end users, and these funds would allow them to reduce prices.

However, the quoted officials declined to comment on the level of the price cap itself.

Germany

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