Germany's one-off gas relief payment to cost 12 bln euros -draft

Compressor station of Dutch gas company Gasonie in Embsen
General view at a compressor station of Dutch gas company Gasunie, that's specializing in gas transport with a more than 15500 kilometer long pipeline network in the Netherlands and Germany, in Embsen, Germany, April 1, 2022. REUTERS/Fabian Bimmer

BERLIN, Oct 26 (Reuters) - The German government's planned one-off payment to relief gas consumers is expected to be paid out in December this year and will cost the government around 12 billion euros ($12.09 billion), a draft law showed on Wednesday.

The payment, originally planned to cover one month's gas bill, will apply to all households and companies that consume less than 1.5 million kilowatt hours (Kwh) per year and should serve as a bridge until the government introduces a brake on gas prices, the draft showed.

Utilities will get funds from the government quickly to manage their liquidity during the December bill waiver, it added, without providing a detailed time frame for the money transfer.

The draft bill is expected to pass the cabinet next Wednesday, sources told Reuters.

($1 = 0.9925 euros)

Reporting by Markus Wacket Writing by Riham Alkousaa Editing by Chris Reese

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