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Germany to Cap Energy Prices as Industry Is Pushed to the Brink
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FRANKFURT—Germany on Thursday unveiled a wide-ranging price cap on energy in response to growing concerns among German businesses that a wave of insolvencies could wash over the country and disrupt the supply chains serving Germany’s largest industrial sectors.
The government said it would cap the prices of electricity and natural gas as part of a fourth package of measures aimed at shielding businesses and consumers from soaring energy prices following Russia’s attack on Ukraine.
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