Germany’s €200 billion ($219 billion) fund earmarked to soften the impact of rising energy costs will expire at the end of 2023, Finance Minister Christian Lindner told Deutschlandfunk.
“As of Dec. 31 of this year the Economic and Stabilization Fund will be closed,” he said in an interview aired on Sunday. “There will be no more payouts from this. The electricity and gas price brakes will also be terminated.”
The fund — known by its German abbreviation WSF — is one of the off-budget vehicles declared as unconstitutional by the country’s top court last week. The decision has thrown the coalition government into turmoil as it struggles to revamp its fiscal plans.
Lindner didn’t elaborate if energy support might be financed via the regular budget in 2024. The aid was introduced to protect households and companies from the fallout of soaring power and gas costs after Russia’s invasion of Ukraine.
The European Commission last week called on Germany to phase out the measures as soon as possible.
