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Dec 21, 2023

Exclusive: German gas levy to be set at 2

A general view of a manometer at the gas trading company VNG AG in Bad Lauchstaedt, Germany July 28, 2022. REUTERS/Annegret Hilse/File Photo Acquire Licensing Rights BERLIN, Aug 15 (Reuters) -

A general view of a manometer at the gas trading company VNG AG in Bad Lauchstaedt, Germany July 28, 2022. REUTERS/Annegret Hilse/File Photo Acquire Licensing Rights

BERLIN, Aug 15 (Reuters) - Germany's incoming gas price levy, which is meant to distribute the high costs of replacing Russian gas among all end-consumers, is to be set at between 2 and 3 euro cents per kilowatt hour (kWh), industry and government sources said.

For an average family of four, a 2-cent levy per kWh would amount to additional costs of around 400 euros annually. At 3 cents, the annual costs would amount to around 600 euros.

Trading Hub Europe, Germany's gas market operator, is expected to announce the cost of the levy later Monday, which is meant to help Uniper (UN01.DE) and other importers cope with soaring prices due to reduced Russian supply.

Germany's cabinet on Aug. 4 agreed to impose the levy from October 2022 to April 2024. read more

It aims to share 90% of importers' additional costs of replacing a shortage of gas from Russia among both households and industrial consumers. read more

Reporting by Markus Wacket; Writing by Rachel More; Editing by Paul Carrel and Maria Sheahan

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