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Extreme energy costs: gas and electricity are becoming more and more expensive - the forecasts are bleak

2022-03-24T11:04:35.604Z


Extreme energy costs: gas and electricity are becoming more and more expensive - the forecasts are bleak Created: 03/24/2022, 11:56 am By: Dominik Jahn Energy costs are rising: Gas and electricity will soon be so expensive. © Wolfilser/dpa Gas and electricity prices continue to rise: Experts speak of panic developments on the markets. It can no longer be overlooked that the Ukraine war* and t


Extreme energy costs: gas and electricity are becoming more and more expensive - the forecasts are bleak

Created: 03/24/2022, 11:56 am

By: Dominik Jahn

Energy costs are rising: Gas and electricity will soon be so expensive.

© Wolfilser/dpa

Gas and electricity prices continue to rise: Experts speak of panic developments on the markets.

It can no longer be overlooked that the Ukraine war* and the associated sanctions against Russia are also having an effect in Germany.

The fuel prices keep rushing up, the consequences for drivers are extensive *, as

echo24.de

* reported.

But energy prices will also continue to rise.

Experts see a clear trend.

Motorists were recently particularly shocked by the rapid increase in diesel prices.

Commodity analysts see several reasons for this*.

And consumers are now threatened with a price shock for gas and electricity too.

Energy is becoming more and more expensive.

Experts from the German municipal utility do not see good prospects for household customers.

After rising fuel prices: Experts also expect higher costs for gas and electricity

At the beginning of March, the general manager of the Association of Municipal Enterprises (VKU), Ingbert Liebing,

told the

German Press Agency (dpa)

: "The trend is clear: the prices will rise and depending on the start and duration of the contract, this may only happen with a delay with the households.”

The gloomy thing about the experts' forecast is that it is impossible to estimate how high prices will rise and how long the turbulence on the markets will last.

Rising gas and electricity prices: Heavy pressure from the Ukraine war

The Federal Association of Energy and Water Industries (BDEW) also speaks of “enormous pressure” on electricity and gas prices due to the Ukraine war.

According to the dpa report, this is made even more difficult by the fact that wholesale prices were already at an exceptionally high level before the outbreak of war.

The chairwoman of the BDEW general management, Kerstin Andreae, expressed concern: "This makes the procurement of electricity and gas considerably more expensive for the energy suppliers."

Unlike with rising fuel prices: help with gas and electricity costs

With the rising fuel prices, Finance Minister Christian Lindner recently spoke out against help for drivers*.

If Ingbert Liebing has her way, there should definitely be support for consumers in view of the extreme heating costs to be expected.

In an interview with the dpa, she explained: "If the burden on the population becomes too great, there must be relief."

EEG surcharge

The EEG surcharge has existed since 2000. It was introduced to finance the expansion of solar, wind, biomass and hydroelectric power plants.

The costs appear in the end customer's electricity bill.

The entire revenue from this surcharge goes to the so-called 

EEG

account.

Furthermore, Liebig demanded that the electricity tax

"should be lowered to a level that at least corresponds to the European standard"

.

As a further lever, the VAT on energy could be reduced.

The elimination of

"the EEG surcharge should only be one component"

.

Gas and electricity prices: experts speak of "panic reactions"

Is an icy winter now threatening in German living rooms?

After the start of the Ukraine war, the price of natural gas reached an extreme high and exceeded the threshold of 200 euros per megawatt hour for the first time.

According to

dpa

, the costs on Monday (March 7) temporarily rose to 335 euros per megawatt hour.

At 8 a.m. the value was still 220 euros, at around 9.30 a.m. the price shock followed.

From 10 a.m. it went down again slightly to 300 euros.

Energy market expert Fabian Huneke from the consulting firm Energy Brainpool speaks of a

“panic mood

” on the markets.

According to the report, gas market expert Heiko Lohmann from the energy information service Energate describes the price jump as a "pure panic reaction".

Around a week before the start of the Ukraine war, natural gas was still being traded at around 69 euros per megawatt hour for delivery the following day.

Comparison portal shows extreme development in electricity prices

A look at the comparison

portal Verivox

makes the dramatic dimensions clear for consumers.

According to calculations by the portal, anyone who wants to conclude a new contract at the moment has to pay around 2,600 euros for an average consumption of 20,000 kilowatt hours.

In September 2021, the value was still 1,300 euros.

The experts expect that this sharp price development in the wholesale trade will of course have an impact on consumers.

Since the year 2000, the price of electricity has been rising steeply.

As the portal

strom-report.de

shows, since then

“the average electricity price for private households in Germany has fallen from 13.94 to 34.64

cents per kilowatt hour in 2022.

This corresponds to an increase of 148% or 6.4% per year.

This 34.64 cents includes the cost of electricity generation, energy transport and all taxes and duties

.

Taxes, duties and levies have therefore almost tripled in this period - from 5.19 cents to 14.20 cents.

*echo24.de is an offer from IPPEN.MEDIA.

Source: merkur

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