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The government's electricity price package: savings or higher costs?
The federal government is planning an electricity price package to relieve the burden on consumers. Reduction of electricity tax and construction of new gas power plants by 2030.
The government's electricity price package: savings or higher costs?
The federal government is currently working on a comprehensive electricity price package that is intended to provide relief for both consumers and companies. This draft should be passed before the Bundestag's summer break in order to finally get the sharp rise in electricity prices under control. The measures include a reduction in electricity tax to the European minimum of 2.05 cents per kWh to just 0.1 cents as well as the abolition of various levies, such as fr.de reports.
A current study by the German Economic Institute (IW) shows that a family of four can expect savings of around 5.5 cents per kWh if the electricity price package is fully implemented. This would mean an annual relief of around 220 euros. The financing of the package is also not ignored; It is estimated at around 21 billion euros and must be covered by the federal budget.
Investments and challenges
Dr. However, Thilo Schaefer, an expert in energy and climate policy, expresses concerns about the long-term impact of the package on electricity prices. Greater investments in network expansion and the construction of gas power plants could be passed on to consumers. The need for new gas power plants is great; At least 40 new plants are to be built by 2030 to ensure security of supply and reduce CO₂ emissions. The grid expansion and construction of these power plants could take an estimated 6 to 7 years.
Schaefer emphasizes that it is crucial to create a better interaction between network expansion, flexible consumers and storage options. This is the only way the import of cheap electricity can be made efficient. At the same time, he warns against excessive investments, which could lead to a further increase in electricity prices if consumption figures do not increase as planned. The risks associated with these developments raise the question of the extent to which the electricity price package can actually bring the hoped-for relief. Further detailed information on the background and analyzes is compiled in a study by the IW, which can be found at IW Cologne is visible.