German consumers have to reckon with record high energy prices, a comparison portal has announced. The reasons for the rise in prices are not only due to the economic recovery.
According to the comparison portal Check24, gas and electricity prices for consumers are at an all time high and continue to rise. A sample household with a consumption of 20,000 kilowatt-hours of gas pays on average 1,516 euros per year. 50 core suppliers have already raised their prices or announced price increases – an average of 11.5%, the comparison portal said on Monday. For the model household, this represents an additional cost of 172 euros per year.
With the economy recovering from the corona restrictions, the price of gas on the stock market has reached an all time high. Consumers “should expect a surge in gas prices this winter,” said Check24 Managing Director Steffen Suttner. “This is mainly due to the increase in the CO₂ tax. In 2022, a model household will pay 143 euros just for this.” The price of electricity is also at an all time high. A model household with a consumption of 5,000 kilowatt hours pays on average 1,532 euros per year. Eight core suppliers have raised their prices or announced increases, an average of 3.7%. This increases the electricity bill of the model household by 63 euros per year.
Check 24 cited rising prices for natural gas, hard coal and CO₂ emission certificates as the reasons for the rise in electricity prices. The increased demand for electricity would be offset by lower production capacities due to the phasing out of hard coal and the less windy September. The policies could give consumers relief by canceling the EEG surcharge, says Suttner: “A family would save 387 euros a year.”