August 9, 2022

Germans Can Expect Heating Bills in order to ‘at Least Triple’

Economy Ministry predicts ‘gloomier outlook’ for 2nd half of 2022

Germany’s energy regulator provides estimated that monthly  heating bills  could triple next year due to a significant  decrease in Russian gas imports.

“ For those today receiving their heating bill, the payments are already duplicity — and that is before having into account  the Ukraine war, ” Federal Network Agency chief  Klaus Mü ller  told Germany’s RND news outlet.

“ From 2023, clients must prepare for bills to at least triple, ” he or she said, adding that marketplace prices were increasing sevenfold in some cases.

Individuals will need to make financial provisions, the grid agency boss warned.

“ It won’t affect all customers immediately or in full, but at some point it has to be paid for, ” he said.   “ That’s why it makes a lot sense to save more today. ”

Will Germany run out of gas?

Mü ller said higher procurement expenses could be met with subsidies for gas companies or even by passing the cost onto consumers while offering state assistance to those unable to pay the particular increased prices.

Germany relies heavily  on  imported Russian gas, items of which have dropped given that the  Kremlin ordered the troops to invade Ukraine.

Nevertheless, Mü ller said private households would be protected during a power crisis under German plus European law.

“ Even in the worst-case scenario, Germany will always get gas from Norwegian and from terminals in Belgium and Holland, plus soon directly from terminals at the German coast, ” he or she stressed.

Economic climate Ministry predicts ‘ gloomier  outlook’ for second half of 2022

The particular German economy has so far weathered the impact from the Ukraine war, but there are major concerns about what impact a further reduction of Russian gas deliveries will have in the coming months, the Economic climate Ministry said.

“ Uncertainties about the continuation of Russian gas products are creating a noticeably gloomier outlook for the second half of the year, ” the ministry said in its monthly statement published Thursday.

Fears grow that  Nord Stream won’t be turned back again on

Energy giant Gazprom said upon Wednesday it  could not ensure the functioning of the Nord Stream gas pipeline  that will transports 55 billion cubic meters of gas every year from Russia to Australia under the Baltic Sea.

On Monday, Nord Stream was  shut down regarding annual maintenance work. The EU and Russian gas-dependent Germany in particular  are now waiting to see if the pipeline will be turned back upon. The repair work is scheduled to last ten days.

The revolution will not be televised .

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