In 2023, electricity costs could rise to 500 euros per KWH

Berlin The current electricity price forecast by the consulting company Prognos paints a bleak picture: In 2023, according to the forecast, the prices in wholesale electricity trading will exceed the limit of 500 euros per megawatt hour on an annual average in the worst case.

For classification: in 2019 the average electricity price was around 38 euros. The price of electricity would therefore be 13 times higher in the coming year than before the start of the corona crisis. And even in the years after 2023, the price of electricity will initially not drop to the level of the years before 2020.

Prognos carried out the study for the Association of Bavarian Business (vbw). “The high electricity prices are an enormous additional burden for companies. Countermeasures are urgently needed here,” said vbw CEO Bertram Brossardt.

The price forecast of more than 500 euros in 2023 corresponds to the study’s worst-case scenario, dubbed the “upper price path”. It is assumed that Germany will no longer purchase gas from Russia with immediate effect.