In the shadow of gas: That's how much electricity prices are rising for consumers

Consumers are concerned about rising energy prices.

In the shadow of gas: That's how much electricity prices are rising for consumers

Consumers are concerned about rising energy prices. In addition to the drastically increased gas prices, the price of electricity is also increasing. And experts believe that it will rise sharply in the near future.

The increased energy prices are a burden for many consumers. In addition to gas, electricity prices are almost falling, but they have also risen sharply. And electricity is becoming even more expensive, as shown by figures from comparison portals, assessments by experts and announcements by energy suppliers.

How have electricity prices developed?

They have risen sharply. The comparison portal Verivox shows the average electricity price for private consumers in Germany in an index. According to this, with an annual consumption of a model household of 4000 kilowatt hours in August, this was 41.98 cents per kilowatt hour. This corresponds to an increase of 38 percent compared to the same month last year. The comparison portal Check24 reports an increase of around 31 percent in the same period. According to this calculation, the average price was 39.9 cents.

Why have electricity prices developed in this way?

"The big price driver is the price of natural gas," said energy expert Udo Sieverding from the consumer advice center in North Rhine-Westphalia. Gas prices have risen mainly because Russia, as Germany's most important supplier, is pumping less to Germany. According to Sieverding, there are also the increased world market prices for coal or increased CO2 prices, which make electricity production more expensive.

What price increases can be expected and when will they reach end customers?

Verivox counted 123 price increases for basic utilities in August, September and October, with an average increase of 25 percent. For a three-person household with a consumption of 4000 kilowatt hours, this means additional costs of 311 euros per year on average. The competitor Check24 had previously reported a price increase of 47.4 percent in September.

"In view of the high wholesale prices, we expect numerous electricity price increases in the coming months, which will represent an additional burden for households," says Verivox expert Thorsten Storck. The average electricity price in the coming year could be 45 cents per kilowatt hour and more. Sieverding also expects prices to rise. "We have to assume that prices will rise to over 40 cents." The end of the flagpole has not yet been reached.

What are the big energy suppliers doing?

Germany's largest energy supplier, Eon, expects prices for end customers to continue to rise. Price pressure prevails in all markets, said CFO Marc Spieker last week. "The only thing that differs is how quickly these price increases are then implemented." There is no question that they would have to come at the end. Electricity customers of the energy supplier EnBW have to pay an average of 31.1 percent more for their household electricity in the basic supply tariff from October.

What could drive up the electricity price further?

The last three nuclear power plants in Germany are to be shut down by the end of the year. Accordingly, there would then be no electricity from the piles. According to Sieverding, this could increase the price. Now it's taking revenge that Germany "wasted the expansion of renewable energies".

What measures could be taken to relieve the burden on citizens when it comes to electricity? Since July, electricity customers no longer have to pay for the promotion of green electricity. The abolition of the EEG surcharge only dampened the rise in electricity prices, says Storck. A further relief could be a reduction in VAT on electricity, which the energy industry is demanding. So far, the federal government has only planned this for natural gas.

What can consumers do?

Unlike gas, there are many individual electricity consumers in a household, says consumer advocate Sieverding. Energy guzzlers such as old refrigerators, washing machines or halogen lamps must be replaced as quickly as possible. Even an old heating pump offers savings potential.

The consumer center gives tips on saving electricity on its website. So you can cool your fridge a little less or defrost an iced-up freezer. When cooking and roasting, you can use a lid and for the oven you can do without preheating and switch it off a little earlier. And of course: turn off the light when you don't need it.

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