The German government has agreed in principle to apply a cap on gas prices for some 25,000 large industrial companies from January 1, 2023, the economy ministry said on Monday, after an expert commission presented its proposals in Berlin.

The ministry said the government will make some technical adjustments to the commission's original proposal, but a cap of 7 eurocents per kilowatt hours for 70 percent of companies consumption will apply per the commission's suggestions.