07 Mar 2019, 13:30
Benjamin Wehrmann

Germany’s power price reaches new all-time high in March 2019, gas prices spike too

Clean Energy Wire

Household prices for electricity and natural gas in Germany have risen substantially in March 2019 compared to the same month in the previous year, price comparison website Verivox says in a press release. Power prices climbed by five percent to the new record-high of 29.42 cents per kilowatt hour (ct/kWh) in March from 27.99 cents a year ago, while gas prices rose nine percent to 6.1 ct/kWh, according to a Verivox analysis of current offers by suppliers. “Power prices are higher than ever before and gas prices have seen their strongest rise in seven years,” said Verivox’s Valerian Vogel. He says the price rise is mostly due to rising wholesale prices, and that no end of this trend currently is in sight. “Energy prices remain an important driver of inflation,” Vogel said.

Power prices in Germany are already the highest in Europe, although they are lower than in many countries if accounted for as a share of disposable income.

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