In its latest attempt to confront the energy crisis afflicting Europe, Germany has announced it will cap energy prices for electricity, for both households and industrial consumers, according to a report by Reuters on Tuesday which quoted a draft document produced by the German government.

According to the document, power prices would be capped at 13 euro cents per kilowatt-hour for industrial users for 70% of last year’s consumption quantity. Households would see their rates capped at 40 euro cents per kilowatt-hour for 80% of last year’s consumption quantity.

The regulations would go into effect on January 1st.

The report comes on the heels of a similar draft regulation for natural gas. Reuters reported that a final proposal was presented by Germany’s gas commission to restrict costs to 12 euro-cents per kilowatt-hour for 80% of a household’s standard consumption for the period between March of 2023 and April of 2024, at the earliest. Industrial consumers would also see their prices capped at 7 euro-cents per kilowatt-hour. The changes would begin in February.

Germany will make further decisions regarding the draft regulation later this week.

Europe has not been pleased as Germany has implemented various measure to protect its citizens from the fallout of the European energy crisis, beginning with a €200 billion aid package Chancellor Olaf Scholz announced last month.