Germany to subsidise industry’s energy prices in bid to revitalise economy

Germany’s Governing coalition agreed to subsidise energy prices for heavy industry over the next three years as it tries to breathe new life into a stubbornly slow economy that is weighing on Europe’s performance. Chancellor Friedrich Merz said he and other coalition leaders agreed Thursday evening to introduce an electricity price of about 5 euro cents per kilowatt hour starting January 1, through 2028, to “support companies that use a lot of electricity and face international competition.”