Germany Agrees Measures to Ease Electricity Bills for Manufacturers, Plans Purchase of Largest Power Grid, and Offers Tax Subsidies Worth Up to €28 Billion by 2028

Germany's government has agreed to measures aimed at easing electricity bills for manufacturers over the next five years, including tax subsidies worth up to €28 billion by 2028. The agreement, involving Chancellor Scholz, Economics Minister Habeck, and Finance Minister Lindner, will lower the electricity tax to the European minimum and relieve the manufacturing industry. Additionally, Germany is on the verge of purchasing its largest power grid from state-owned Dutch operator TenneT for just over €22 billion, while the UK government is preparing to offer higher subsidies for new offshore wind farms to enhance its clean-power strategy.