A study published in December 2025 by Agora Energiewende, Stiftung Klimaneutralität, and Dezernat Zukunft quantified the resulting equity gap: it stands at approximately €68 billion. A large portion of this can be mobilized by the utilities themselves through expanded debt financing, reduced profit distributions, and capital increases by existing shareholders with the capacity to act. However, a gap of around €13 billion remains — primarily at companies majority-owned by municipalities — and closing it will require additional efforts.

To identify pathways forward, Stiftung Klimaneutralität, Dezernat Zukunft, and Agora Energiewende have launched a joint project on strengthening the equity base of municipal energy suppliers. At its core is a proposal for a "Germany Standard": a coordinated modular framework across all three federal levels that assigns clear roles to municipalities, states, and the federal government, and organizes equity injections through standardized, nationally consistent instruments.

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