Energy prices are driving local gas suppliers into dire straits

Dusseldorf After the big gas traders, the first energy suppliers are now also getting into trouble. They terminate contracts, have to be rescued with amounts in the millions or even slide completely into insolvency. Smaller suppliers such as E-Optimum or Kehag are reporting difficulties, as are the first municipal utilities such as Bad Säckingen, Bad Belzig and most recently Leipzig.

But that is apparently just the beginning. According to Handelsblatt information from industry circles, other municipal utilities are already having payment difficulties. Several energy suppliers have already applied for possible financial support for security payments from the federal government, according to a document available to the Handelsblatt. The volume is therefore in the tens of billions.

“The energy crisis already has the dimensions of the crisis that triggered the Lehman Brothers bankruptcy,” warns expert Tobias Federico from the market research company Energy Brainpool. The insolvency of the US bank triggered a chain reaction in 2008: systemically important banks had to be supported with billions.

Energy crisis: Stadtwerke buy gas and electricity at high prices in the short term