Energy : Electricity price shock: A further 417 increases in January alone

I’m hit by the blow: electricity price increases will hit six million households in January. This also has to do with the gas market.

Of the electricity price knows only one direction – up. That will be addressed in this winter don’t change anything. There are two types of consumers: those who have already received their price increase, those who are yet to receive it.

Like the comparison portal Check24 determined, other basic service providers will raise their prices on January 1, 2023. “For January there are already 417 cases of electricity price increases,” according to the portal. Around six million of the 41 million households nationwide are affected.

Electricity price: 145 percent increase compared to 2021

The raises cheat on average 62.4 percent compared to 09/30/2022. According to Check24, this corresponds to additional costs of 986 euros for a model household with a fictitious consumption of 5,000 kWh.

also read: Electricity price 2022: Origin, development and forecasts

A megawatt hour costs EUR 267 in wholesale today. For comparison: Last year, the electricity price on the exchange was an average of 93 euros per megawatt hour – that’s one Plus of 145 percent compared to 2021.

Since September 30 alone, prices have been raised or increases announced in 559 cases, as determined by Check24. On average, the increases were 50.4 percent and affected 9.6 million households. For a model household with a consumption of 5,000 kWh, this means: additional costs of an average of 790 euros per year.

The price of gas is also reinforcing the trend on the electricity market

According to Check24, consumers must be prepared for “significantly increasing prices”. This is because gas prices have exploded in the course of the Ukraine war, sanctions against Russia and inflation. The gas power plants are for the German electricity mix indispensable to compensate for fluctuations in renewable energies such as wind power and sun. Ultimately, gas influences the electricity price market. Check24 also analyzes that “the high prices are passed on to the end customers with a slight delay”. (fmg)

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