German utility companies for the supply of electricity announced today that they expect large increases in the price of electricity in the coming year. Estimates are that the price may increase by about 60 percent, reports HINA.
According to reports, electricity prices are currently rising more slowly than gas prices, which have already risen between 30 and 60 percent (depending on the supplier) compared to pre-war Ukraine.
According to the Minister of Economy and Energy Supply, Robert Habek (from the Green Party), electricity prices may even double if the government does not intervene in the market and limit the margins of energy companies.
“If we do not take decisive steps and immediately reform the electricity market, prices may double,” Habek said. However, he thinks that the situation can normalize by the middle of next year.
There is currently a debate within the federal government about a possible freeze on electricity prices. Chancellor Olaf Scholz (SPD) is said to also support setting a ceiling on the price of electricity for households and small businesses.