Victims of the energy crisis: Fifth German electricity supplier insolvent

Created: 12/16/2021, 5:01 PM

From: Verena Möckl

Electricity and natural gas prices are exploding.

Four German electricity suppliers have been bankrupt since autumn.

Now the Saxon energy supplier Dreischtrom has also been hit.

Hoyerswerda - Electricity and gas prices are at a record high.

Now the energy crisis has claimed another victim - the fifth since autumn.

In addition to Fulminant Energie, Smiling Green Energy, Lition Energie and Otima Energie, the electricity and natural gas supplier Dreischtrom GmbH had to file for bankruptcy.

Energy crisis: Fifth electricity supplier bankrupt - upstream supplier had to file for bankruptcy

The Saxon company from Hoyerswerda announced this on its homepage on December 8th.

The reason for the bankruptcy: The pre-supplier had to file for bankruptcy, which is why Dreischtrom no longer had access to the electricity and gas volumes that had previously been purchased on a long-term basis.

The electricity provider had no choice but to procure the missing quantities at current prices.

"Since we cannot pass the price difference on to our customers, we were forced to file for bankruptcy," explains the company on the website.

Otima Energie: The first electricity and natural gas supplier went bankrupt in October

Otima Energie also fell victim to this domino effect.

The medium-sized energy supplier from Neuenhagen near Berlin was the first to file for bankruptcy this year because it had lost its upstream supplier.

The company announced this on its website in October.

In Great Britain, too, two companies have already had to file for bankruptcy.

Energy crisis: Sharp price increase for electricity and gas since autumn

Above all, the high gas prices have caused the price of electricity to rise in the past few weeks.

Energy prices are also skyrocketing on the stock exchange.

In addition to natural gas prices, electricity prices have also risen significantly.

According to the Federal Network Agency, wholesale food cost around 50 euros per megawatt hour on December 16 last year, but exactly one year later it is around 344 euros, which is almost seven times more expensive than in 2020.

Are you affected by the bankruptcy of one of the five energy providers?

Read here why you can still get electricity and gas.

The skyrocketing electricity and gas prices are also threatening German companies such as BASF and the copper producer Aurubis.