German chancellor promises new package to cope with rising energy prices

BERLIN (AA) - German Chancellor Olaf Scholz on Wednesday pledged a new relief package to help households overcome rising energy costs.

Speaking to reporters after a two-day Cabinet retreat at Meseberg Palace, Scholz said they will continue their discussions on various measures to protect households this winter.

“We had discussions here, and we’ll continue to our work in the coming days to adopt a very precise, customized relief package, which will help our citizens and businesses to overcome this difficult period,” he said.

Scholz’s liberal-left coalition government is under growing pressure to protect households from skyrocketing energy bills, exacerbated greatly by Russia’s war on Ukraine and sanctions imposed on Moscow.

Germany’s inflation rate hit 7.9% in August, and analysts warn that it could reach a 70-year high of 10% in the coming months.

Average households will have to pay around €3,500 ($3,500) for gas this winter – nearly three times what they paid last year, according to the latest estimates.