Germany to implement experts' gas price brake proposals as closely as possible -Habeck

Germany plans to implement a gas price cap as closely to an expert commission's proposals as possible but will have to take into account European Commission guidelines that deviate from them, the economy minister said on Tuesday.

EU state aid rules follow a different logic then the proposed fix prices for large industrial consumers of 7 cents per kilowatt hour (kWh), Robert Habeck said at a news conference in Dresden, adding that individual applications were needed.

Asked about a potential ban of bonuses for management or dividends for shareholders while companies were benefiting from the cap, Habeck said he would agree with the budget committee's logic for blocking dividends and bonuses.

However, the rapid payment of aid must remain guaranteed, the minister said.