Netzagentur: Households have to wait for gas prices to drop

Dusseldorf

The Federal Grid Agency estimates that consumers in Germany will only benefit from lower wholesale prices for gas and electricity in a few months. “It should take another six to twelve months before the reduction in wholesale prices for gas and electricity also reaches household customers,” said the head of the Federal Grid Agency, Klaus Müller, from the “Rheinische Post”. “This is due to the duration of the contracts and the company’s procurement strategy.”

Mueller said he expects companies to make price cuts. “However, it will not be as cheap as it was in 2021.” Wholesale gas prices, which topped 300 euros per megawatt in late summer, have fallen to around 50 euros. That’s a lot more than it was in 2021, but the new normal. “We have to get used to high prices,” Mueller said, “the era of cheap energy from Russia is finally over.”

“We receive a lot of complaints from consumers who criticize the high prices of their suppliers,” said the agency chief. Consumers will have a special right of termination if prices are increased. And if companies violate consumer rights, the federal network agency can take action.

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