Scholz vows to set energy price ceiling in Germany as soon as possible

German Chancellor Olaf Scholz has vowed to introduce cap electricity prices in the country as soon as possible.

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“This will happen as soon as possible,” the head of government said, speaking about the timing of the introduction of price restrictions.

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Earlier, on September 4, Olaf Scholz announced that the German side plans to completely stop the import of Russian gas in December this year.

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The German Chancellor also said that Russia cannot be considered a reliable gas supplier, as it has been violating its obligations for a long time.

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On September 2, the press service of the Russian state energy company Gazprom reported that the transportation of gas through the Nord Stream pipeline was completely stopped for an indefinite period due to comments regarding the operation of the equipment.

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Due to the situation with the supply of fuel through the Nord Stream gas pipeline, the average estimated gas price in Europe increased by 35% in August, to $2,450 per thousand cubic meters, and also reached a record $3,500 for the first time.