German gas storage levy set at €1.45/MWh from July

(Reuters) - A charge to help fund gas imports into Germany will more than double from July, according to Trading Hub Europe (THE), which was tasked by Berlin with ensuring national stocks get Europe’s top economy through the winter.

The country’s gas storage levy, or “neutrality charge”, will be set at €1.45 per megawatt hour (MWh) from July, up from €0.59 previously, said THE, which has so far spent €8.7 B to fill Germany’s gas caverns.

The levy was introduced in the summer of 2022, when reduced Russian gas supplies stoked fears that Germany may not have enough of the fuel to get through the winter season.

However, savings efforts by industry and households have kept Germany’s gas storage tanks at a comfortable level of 69.74% as of May 13.

THE told Reuters earlier this year that it aims to maintain a buffer come spring to try and avoid a supply squeeze ahead of next winter even as it continues withdrawals from the tanks.

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