No all-clear in sight for energy prices. According to a current analysis by the comparison portal Verivox, prices for electricity and gas will continue to rise in the coming months. Numerous regional basic suppliers have already announced price increases. So far, electricity prices in Germany have increased by 48 percent within a year and reached a new all-time high in April.
High wholesale prices
While households with an annual consumption of 4,000 kilowatt hours (kWh) paid an average of 1,171 euros per year for electricity twelve months ago, it is currently 1,737 euros - and the trend is rising. “The wholesale prices for electricity suppliers have more than tripled within a year. Given this development, the abolition of the EEG levy in the middle of the year will only slightly mitigate the increase in electricity costs for households,” says Verivox energy expert Thorsten Storck.
Since the beginning of the year, basic electricity suppliers have increased their tariffs in 496 cases and prices will continue to rise in the coming weeks: According to the study, there will be 166 price increases for the months of April, May and June - by an average of 19.5 percent. A family with an electricity consumption of 4,000 kilowatt hours has additional costs of around 235 euros per year. There are around 13 million households in the basic supply areas affected by increases.
Stopping gas deliveries would be expensive
The development in gas prices is even clearer. While a family with a gas consumption of 20,000 kWh paid 1,184 euros per year in April 2021, it is currently an average of 2,787 euros - an increase of 135 percent. There have been gas price increases across the board since the beginning of the year and this trend is now continuing: 118 gas price increases by basic suppliers were announced for April, May, June and July - by an average of 42.3 percent.
More than seven million households are in the areas affected by increases. The additional costs amount to 739 euros for a consumption of 20,000 kilowatt hours. “All gas providers in Germany are struggling with historically high purchase prices. The war in Ukraine and a possible gas supply stop are making the situation even worse. “Consumers will therefore have to prepare for further rising prices in the coming months,” concluded Storck.
Source: pte
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