Comparison website reports highest power prices ever in Germany
Clean Energy Wire
Power customers in Germany paid the highest power prices ever registered in the country during the first three months of 2019, price comparison website Verivox says. With 29.42 cents per kilowatt hour (kWh), prices on average climbed by five percent compared to the same period last year, according to Verivox. “Three quarters of the basic local power providers have increased their prices,” Verivox’s Valerian Vogel said, adding that most suppliers said they had to increase their prices due to higher procurement costs.
Verivox uses tariffs by so-called ‘market makers’, basic local providers of electricity, for its power price calculation, which differs from other figures, such as by German Association of Energy and Water Industries (BDEW) or by the Federal Network Agency (BNetzA). Regardless of the exact calculation method, nominal power prices in Germany are among the highest in Europe, although they are lower than in many countries if accounted for as a share of disposable income.