Business

Germany has record-high gas prices for household consumers

Germany has record-high gas prices for household consumers

According to German online comparison portals, the cost of gas for domestic consumers in Germany has risen to record levels.

According to DW, the Deutschlandfunk radio broadcaster reported this on September 20.

A typical household with a consumption of 20,000-kilowatt-hours will have to pay an average of 1,516 euros for gas, according to data from the portal Check24. The comparison service Verivox cites a figure of 1,299 euros. Prices have not been this high since July 2015.

The reason for such a jump is said to be the rapid increase in purchase prices. Among the reasons is the low level of gas reserves in underground gas storage in Europe due to the limited supply of gas by pipeline and in liquefied form. Just over a month is left before the transition from pumping to withdrawal from the underground gas storages, and the level of stocks does not exceed 70%.

It is expected that the of heating with gas will continue to rise in the future, including due to plans to raise the tax on CO2 emissions from burning fossil fuels.

As a reminder, a group of MEPs from various political groups in the European Parliament called on the European Commission to investigate Gazprom’s role in the natural gas hike, saying they suspect market manipulation.



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