Timothy Birdnow

Germany is going dark.

The Germans have broken a record again. Drastically increased wholesale prices and expensive emission rights are driving electricity prices in Germany to ever new record levels. In addition, of course, there are also high taxes and levies for renewable energies and the network charges, which we have already listed in our article "This is why we have the most expensive electricity in the world”.

A new addition is the annually increasing CO2 tax on electricity generated from fossil fuels, which is one of the reasons why the electricity price has reached a new record.

Germany already has the highest electricity price in the world

Germany has the highest electricity price in an international comparison. However, a new peak was reached in August, higher than ever before. According to a current analysis by the comparison portal Verivox, one kilowatt hour of electricity now costs an average of 30.4 cents for private households.

Wholesale prices responsible for higher electricity prices

The wholesale prices for electricity rose significantly in 2021 and are therefore the main reason for the current rise in electricity prices. In January the average price on the EEX electricity exchange was 45.29 euros per megawatt hour and had already risen to 50.81 euros by July. This corresponds to a price increase of around 12 percent. The electricity providers are now passing the price increase on to the end consumer.

Posted by: Timothy Birdnow at 12:57 PM | Comments (4) | Add Comment
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