German energy companies invested record amounts in 2021

Record levels of investment were made by German energy companies in 2021, said the German Association of Energy and Water Industries (BDEW). Investments totalling 20.5 billion euros were made last year and are set to stay at record highs throughout 2022, the association said in a press release.

"The companies in the German electricity and gas industries are among the largest investors in Germany," the BDEW stated. "With the exception of vehicle manufacturing, no other industrial sector invests more than the energy industry." The association explained that out of the total sum, 4.3 billion euros were invested in electricity generation plants, 9.9 billion euros in transmission and distribution plants and 1.2 billion euros in other assets, such as metering points and information technology.