The head of the Federal Network Agency expects lower wholesale prices for gas and electricity to reach consumers in just a few months.
According to the forecasts of the Federal Network Agency, consumers in Germany will be able to benefit from the reduction in wholesale prices of gas and electricity in just a few months. Klaus Müller, head of the Federal Network Agency, told the “Rheinische Post”:
Müller continued: “This is due to the duration of the contracts and the company’s acquisition strategy.”
Müller: Prices are no longer as cheap as in 2021
Müller said he expects companies to cut prices. But it won’t be as cheap as it was in 2021.” Wholesale gas prices have dropped from over €300 per megawatt at the end of summer to around €50. That’s a lot more than in 2021, but it’s the new normal.
Special right of termination in price increases
“We get a lot of complaints from consumers criticizing their suppliers’ high prices,” the agency chief said. Consumers will have a special right of termination in the event of an increase in prices.
If companies violate consumer rights, the Federal Network Agency can take action.
Source: ZDF
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