Data released from Germany’s gas grid operators reveal consistently high returns, raising questions about the impact on consumer costs. An analysis of 19 network operators, representing roughly 45% of the German market, conducted by the Bundesverband Neue Energiewirtschaft (BNE), showed an average equity return of 22% in 2023. Three companies reportedly achieved returns exceeding 50%.
These profits are generated through grid fees, which are passed on to consumers via their gas bills. These fees increased by an average of 22% in 2025, resulting in an estimated additional cost of approximately €80 per year for a typical single-family household consuming 20,000 kilowatt-hours annually.
The dominance of regional network operators, numbering 687 as of last autumn according to the Bundesnetzagentur (BNetzA), contributes significantly to the high returns. BNetzA establishes fixed return frameworks every five years, intended to incentivize investment in infrastructure upgrades while managing costs for consumers. The current benchmark for existing infrastructure is around 5% before tax.
However, the BNE analysis indicates that actual returns often significantly surpass these benchmarks. While network operators state that comparing return frameworks and actual profits is not straightforward, citing the fluctuating nature of investments in new infrastructure – potentially leading to short-term losses followed by subsequent higher returns – BNetzA data also reveals consistently high returns over a longer timeframe. Analysis by BNetzA indicates average returns of 18% between 2019 and 2023.