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HomeLatest NewsHandelsblatt: Gas price for German residents will rise 112 percent in 2023...

Handelsblatt: Gas price for German residents will rise 112 percent in 2023 KXan 36 Daily News

Date: December 9, 2023 Time: 04:28:27

Thus, a home with an annual consumption of 20,000 kilowatt-hours of energy generated from gas will have to pay an annual average of 2,756 euros. This is 1,457 euros or 112% more than in the fall of 2021, when rates began to rise, TASS reports.

German electricity consumers will have to pay an average of 44% more in January than in autumn 2021. If the average family consumes about 4,000 kilowatt-hours, then on an annualized basis they will have to pay 1,764 euros. At the same time, state intervention will keep electricity prices low by just 5%, the newspaper notes.

At the end of November, the German government approved measures to limit the prices of gas, electricity and heating. The regulatory mechanism is expected to come into force on March 1. Prices will be capped for private households and small and medium-sized businesses whose consumption is less than 1.5 gigawatt-hours per year. The cost of gas for them will be set at the level of up to 12 cents per kilowatt-hour, for electricity – up to 40 cents per kilowatt-hour. For district heating, the price will be capped at 9.5 cents per kilowatt hour.

Earlier, the German sociologist Ulrich Schneider said that Germany would soon become a “beggar state.” People who are poor in one way or another have become even poorer and do not know how they can financially live for a month. The middle class also faced difficulties. “A faulty washing machine or a vehicle in need of repair can quickly turn into a disaster,” Schneider explained. And for those who are still afloat, the anxiety gradually turns into “real fear,” Schneider said.

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Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.

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