Electricity prices remain high: financial expert confirms ongoing burden on consumers

Electricity prices remain high: financial expert confirms ongoing burden on consumers

According to a report by web.de, electricity prices for consumers will remain high. Although wholesale electricity prices have fallen compared to 2022, the price level is still higher than before the Russian war of aggression. According to Klaus Müller, President of the Federal Network Agency, nothing will change for the time being. The time of cheap energy is over, especially as long as conventionally generated energy is consumed in large quantities. The Traffic Light Coalition's austerity measures have removed financial support for network charges, which will have an impact on consumers. An average four-person household will pay 120 euros more in network fees annually due to the abolition of the planned subsidy. According to Müller, it is likely that the network operators will quickly pass on the price increases to their customers.

Impact on the market
The decision to remove financial support for network fees will have a noticeable impact on the market. Electricity prices for consumers will continue to rise, which will lead to additional financial burdens. This could mean that consumers have less money to spend on other aspects of daily life, which in turn could impact consumption and therefore the economy.

Impact on the financial industry
The increased electricity prices will also have an impact on the financial sector. Consumers who have to spend more on electricity could have less money available for other expenses, such as investments. This could also lead to a shift in priorities when it comes to making financial decisions. Banks and financial institutions may need to adapt their offerings to respond to consumers' increased financial burdens.