Electricity price increase of up to 60 percent expected by municipal utilities

DMunicipal energy suppliers are expecting a sharp rise in the electricity prices in the coming year. So far, the price increases here have been around ten percent lower than for gas, for example because of the elimination of the EEG levy, said a spokesman for the Association of Municipal Companies (VKU) of the "Neue Osnabrücker Zeitung" on Friday. For the coming year, however, "price increases of around 60 percent are expected".

At the gas the end customers of the public utility companies would have to pay “currently between 30 and 60 percent” more, the spokesman said. However, some suppliers would have had to more than double their prices. This development could continue "and possibly even worsen".

There are currently some indications that the market may have already priced in the Russian delivery stop. "An early or severe winter could, however, unexpectedly increase gas consumption and possibly start the price spiral again," said the VKU spokesman for the newspaper.

Survey: Germans with economic expectations

Meanwhile, according to the current "Germany trend" for the ARD morning show, more than every third adult in Germany (39 percent) expects next winter energy bills not being able to pay or only being able to pay with considerable difficulty. People with lower incomes and younger people in particular were concerned about their energy bills

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