Energy crisis in Germany: Prices for gas, electricity and fuel continue to rise

Energy crisis in Germany: Prices for gas, electricity and fuel continue to rise

The energy crisis has led to higher costs for gas and electricity contracts despite falling prices. Prices on the energy market have risen, primarily due to low filling levels in gas storage facilities and rising procurement costs. As a result, consumers had to pay more for electricity and gas than before the crisis. The slowdown in production of fracking gas in Germany continues to have an impact on energy prices, as does the country's nuclear phase-out.

Due to the nuclear phase-out, Germany has increasingly relied on the import of liquid gas to compensate for the shortfalls in pipeline gas. Rising imports have made Germany a net importer of electricity, indicating that the country is no longer able to meet its own electricity needs. However, the shift to renewable energy has led to a decline in the share of fossil fuels in electricity generation.

The current figures show that Germany wants to avoid a gas and energy shortage in winter by setting minimum filling levels for gas storage operators. Increasing LPG imports have so far helped prevent a gas shortage, but there is a possibility that gas will become scarce in the medium term. Despite efforts to fill gas storage facilities, coming winters could pose further challenges for Germany, especially if Russia reduces its exports to other EU countries.