Price explosion in Germany: That's why electricity is now getting more expensive
Created: 08/31/2022, 14:32
By: Stella Henrich
Consumers face further burdens.
Not only is the price of gas exploding, so is the price of electricity.
Where else should he save?
Munich - I agree.
We consumers don't want to get upset.
why?
Inflation is scratching the eight percent mark, food prices continue to rise, the cost of housing is now eating up more than half of income and energy costs for gas are literally exploding - with no end in sight.
And as a consumer, should we please be less excited?
This cost of living hits us consumers hard.
They cannot simply be dismantled through restrictions and renunciation.
Electricity prices are now set to rise.
You ask yourself: Who is going to pay for all this?
Not only electricity users in Munich rub their eyes when they receive mail from their suppliers these days.
Apparently, the electricity system is now out of joint due to the high gas prices.
Because the most expensive price on the commodity markets determines the price for all others.
And that is the price of gas, which has now multiplied.
This is now having an effect on the price of electricity.
Electricity costs for consumers: the price has increased eightfold on the stock exchange
According to the Verivox
portal, the price for one megawatt hour - i.e. 1,000 kilowatt hours - of electricity for delivery in the coming year
was 643 euros on the electricity exchange, reports
t-online
.
A year ago, one megawatt hour of electricity cost just 83 euros.
This means that the price on the electricity exchange for the consumer has increased eightfold.
According to calculations by Verivox, a three-person household is already paying 51 percent more per year than in the previous year.
This exemplary calculation shows how the financial pressure on consumers is increasing.
The political decision-makers know that too.
What was still out of the question in political Berlin a few days ago, such as the excess profit tax or a price cap on gas, is now no longer ruled out by the traffic light government in order to relieve the burden on the country's citizens.
Especially against the background that from September 1st, the tank discount and 9-euro ticket were canceled without replacement.
Why is electricity currently so expensive?
Electricity and gas prices are related to each other.
Part of the electricity in Germany is generated with gas.
In 2021, this share of natural gas as an energy source in the electricity mix was 10.4 percent.
It is important to know that
electricity can be generated from natural gas at particularly short notice
.
It is therefore used to absorb sudden peaks in demand.
Natural gas is therefore used in the generation mix to fill gaps in the supply
.
However, the process of generating electricity from natural gas is expensive.
Added to this are the exorbitantly increased costs for the natural gas itself.
No, that's not a lot of little Eiffel Towers.
These are high-voltage pylons in the Rhineland.
(Iconic image) © Rolf Kosecki/imago
Electricity costs are rising: Judges show suppliers their limits
With its judgment, the District Court of Düsseldorf has now made it clear that not only reason seems to prevail in political decision-making processes, but also the rights of consumers.
The judges put a stop to suppliers who try to pass on their higher procurement costs for electricity and gas to customers.
A contract with a price guarantee must be observed.
Consumer advocates cheer.
Nevertheless, we consumers must continue to expect rising electricity prices.
Because the electricity doesn't just come from the socket, of course, but is produced in expensive gas-powered power plants.
They sometimes set the pace according to the so-called merit order principle.
Behind this is the regulation that the most expensive provider on the market determines the price for all others.
It remains to be seen what future influence our neighbors such as France and Poland could have on electricity and gas prices in this country.
In the meantime, consumers should check whether they belong to the group that will have to pay more than 1,000 euros for energy in the future.
And then ask yourself: Where can I save now?
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