Electricity prices to rise for every fifth household

Every fifth German household will face rising electricity prices in the coming weeks, a consumer report said on Tuesday.

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At least 74 power companies including Eon and enviaM plan to hiking prices in April and May for about eight million households, according to online consumer portal Top Tarif.

Prices are expected to increase by about six percent.

Head of the Federal Network Agency (BnetzA) Matthias Kurth has in turn demanded that the country’s four main energy utilities find a way to work together to reduce prices by May 31. His agency estimated that even more providers – up to 300 of the country’s total 900 – would increase their rates on April 1.

He said it was wrong for these companies to force customers into to taking a share of the costs for developing sustainable energy sources.

“The long-term procurement strategy was false for countless energy companies,” he said, explaining that for too long many bought electricity at an inflated price, but this did not justify passing the cost on to consumers.