Germany plans to begin a scheme to slash energy costs for power-hungry manufacturers in January, the economy minister said Monday, part of efforts to revive Europe's struggling industrial powerhouse.

Sectors like chemicals and steel production have long been complaining that high electricity prices in Germany are adding to their burdens.

The conservative-led government, which took power in May, has promised to bring them down as it seeks to turn around Europe's biggest economy following two years of recession.

"I am assuming that we will introduce the industrial electricity price from January 1, 2026," Economy Minister Katherina Reiche said at a conference in Berlin.

"We are in the final stages of negotiations with the European Commission".

Reiche did not give further details. But the

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