Lausanne, Dusseldorf The energy price rally does not only produce losers. Where some pay more in view of record prices for gas, oil and coal, others take in more. Oil multinationals, commodity traders, wind and solar companies rake in lavish profits. Federal Economics Minister Robert Habeck (Greens) called these profits “war profits”.
Households and industry have been groaning under the high prices for oil, gas and electricity for months. Prices have already multiplied in the second half of last year. Since the start of the Ukraine war, energy sources have become even more expensive.
A barrel of Brent oil currently costs $115 – 80 percent more than a year ago. The wholesale gas price has temporarily risen to over 300 euros and at 93 euros is still four times as high as in March 2021. And the electricity price on the EEX spot market has climbed from a good 50 euros per megawatt hour to 431 euros and is currently quoted at 130 euros .
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