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Gas supplier in Lower Saxony gives up because of high prices

2021-09-25T13:53:41.156Z

The "Deutsche Energiepool" withdraws from the gas market and terminates customers' contracts. Meanwhile, despite the increased prices, the federal government sees no signs of supply bottlenecks.



Flame of a gas stove (symbolic image): provider in distress

Photo: Patrick Pleul / picture alliance / dpa

The drastic rise in gas prices in Germany is forcing a first supplier to its knees.

Deutsche Energiepool, based in Salzbergen in Lower Saxony, announced on its online site that it had terminated the supply contracts for many customers.

"In the last few months the procurement prices for natural gas and electricity on the futures market have tripled, the prices for short-term procurement have increased by around fivefold," the company explained.

Hardly anyone expected such a development.

The company speaks of an "economic unreasonableness" that forced them to resign.

In addition, it had been decided to completely stop the nationwide supply of natural gas.

How many customers this affects initially remained open.

But customers don't have to sit in the cold.

The energy company E.on steps in.

"As the responsible basic and replacement supplier in large parts of Germany, E.on is at the side of all affected customers who can no longer be supplied." The group ensures that there is no interruption in the energy supply.

E.ON Energy Manager Christoph Müller emphasized that planning security was the top priority at E.on when purchasing energy.

"We buy the required amounts of energy long-term and with foresight in order to avoid the price peaks that we are currently experiencing in the interests of our customers."

The federal government sees no gas supply bottlenecks

The drastic rise in gas prices in Great Britain has driven several low-cost providers into bankruptcy. "The security of supply in Germany is still high," emphasized a spokeswoman for the Federal Ministry of Economics. As things stand, there will be no supply bottlenecks. The gas storage facilities in Germany with a total capacity of 24.6 billion cubic meters are filled to 64.69 percent, this percentage increases weekly. Compared to Great Britain, for example, Germany has built 16 times more capacity.

Deutsche Energiepool announced that it will concentrate on services in the energy sector in the future.

"Currently we are difficult to reach by phone due to the overload," it also said.

The company initially did not respond to an email from the Reuters news agency.

The company warned its customers to be faithful to their payments.

"By the day the termination takes effect, the contract will be fulfilled on our part - please adhere to it too."

mic / Reuters

Source: spiegel

All business articles on 2021-09-25

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