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Germany鈥檚 economy minister Robert Habeck wants to extend the country鈥檚 energy 鈥榩rice brakes鈥� until the end of March 2024 as an 鈥渋nsurance against rising prices鈥�, newspaper Augsburger Allgemeine . The electricity and gas price brakes, which capped the price for a large part of household and business鈥� consumption during the energy crisis, are set to run out at the end of the year. While energy prices have mostly dropped below the upper limits of the price brakes, Habeck wants to extend the scheme as a precautionary measure. 鈥淪hould something happen, protection will still be there in the coming winter,鈥� the Green politician told Augsburger Allgemeine, adding that talks with the European Commission are underway.

Germany introduced gas and electricity price breaks as part of its 200 billion euro 鈥�defence shield鈥� package to protect households and businesses against soaring energy prices. These were applied throughout 2023. 鈥淲ith some success, the markets have stabilised,鈥� Habeck said, adding that the government has only spent around 18 billion euros on the price brakes so far. Habeck plans are supported by the Social Democrats (SPD), a government coalition partner alongside the pro-business Free Democrats (FDP), newspaper Rheinische Post . However, the head of price comparison website CHECK24 criticised the proposal. 鈥淭he brakes lull customers into a false sense of security because currently they can obtain significantly cheaper tariffs,鈥� Steffen Suttner .