The German economy is preparing for tough months.
Dusseldorf, Berlin The dramatically rising prices for electricity and gas are not only bringing more and more companies in Germany into the red. They are also increasingly becoming a competitive disadvantage compared to competitors in the USA and Asia, which could permanently shift the balance of power.
“German industry is currently paying a market price for natural gas that is eight times higher than the market price in the USA,” says Christof Bauer, energy expert at TU Darmstadt and chairman of the energy committee at the VCI chemical association. Bauer refers to the current wholesale price for delivery in 2023, which is the price excluding taxes and duties. It is currently around 270 euros per megawatt hour.
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