What has always protected the energy industry from price spikes in the past is now threatening to become its biggest problem.
(Photo: dpa)
Dusseldorf, Berlin Increasing electricity and gas prices have been putting German energy suppliers under pressure for months. In the course of the week, a new record was set with a price of 300 euros per megawatt hour (MWh) of gas. Some providers had already bankrupted the price jumps before the Ukraine war. Industry experts now fear the next wave of insolvencies.
According to industry circles, if European countries impose an embargo on Russian gas, the existence of many suppliers and traders would be threatened. This will then have a chain reaction effect on the real economy.
In order to prevent this, the federal government is now working “under high pressure” on new economic aid to cushion the consequences of the Ukraine war for German companies. The energy industry is also considered.
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