Massive price hike: millions of Germans will soon pay much more for electricity and gas

According to Verivox, the gas costs for a family with a single-family home and a consumption of 20,000 kilowatt hours (kWh) increase by an average of 1247 euros per year. For electricity, the price for a three-person household with a consumption of 4000 kWh increases by an average of 784 euros. For some providers, however, the increase is even greater. At the start of the year, for example, electricity and gas prices at Stadtwerke München doubled.

The reason for the sharp price increase is, on the one hand, higher network usage costs, which providers have had to pay since this year. But this is mainly due to the high purchase prices on the energy markets. Local suppliers often purchase electricity and gas on a long-term basis. Many of these contracts are gradually expiring. Companies will then have to pay much more for energy than before: “High wholesale prices and rising network costs are gradually affecting all households”, says Thorsten Storck, energy expert at Verivox, the “Süddeutsche Zeitung”.

Source link