The operator of the German gas market Trading Hub Europe calculated the losses of German gas companies specializing in gas imports, due to the refusal of supplies of natural gas from Russia.
The Trading Hub Europe analysts tentatively estimated that German gas companies can lose up to €32 billion in potential losses from Russian gas supplies to Germany between October 1, 2022, and April 1, 2024.
To cover these costs, the German authorities have imposed a so-called gas tax on its citizens. In parallel, the German government has decided to halve the VAT on gas, which analysts estimate should compensate for most of the current gas costs for end users. Nevertheless, it has been suggested that the tax may have to be raised, because at the current level it is unlikely to recover the costs of German importers.