Germany to amend law to bail out energy firms hit by surging gas prices

The government may offer gas company Uniper a bailout package of as much as €9bn.

The German government is looking to overhaul the law, allowing it to buy stakes in energy firms that are badly hit by the soaring gas prices following Russia’s invasion of Ukraine, Reuters reported.

Moscow stopped gas supplies to Germany and other European nations after the Western countries imposed sanctions on Russia. This resulted in a price surge of non-Russian gas, in turn ‘severely burdening’ the finances of the energy companies.

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