Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Utilities hiking power prices

Share this article

Utilities hiking power prices
Photo: DPA
17:32 CET+01:00
Two German utilities – Vattenfall and EWE – announced on Wednesday they would dramatically raise electricity prices for their customers starting next year, blaming the higher cost of renewable energy.

Vattenfall said private customers would have to pay 5.9 percent more in Berlin and 4.4 percent more in Hamburg starting January 1. The hike means an average household would have to fork out an extra €28.80 in Berlin and €24 in Hamburg each year. Businesses will see their electricity costs surge 8.9 percent.

Germany's fifth largest power provider, Oldenburg-based EWE, also said it was raising prices on average by 14 percent next year.

The move follows EnBW's decision to raise prices by 7.5 for some of its private customers.

Consumer website Verixov.de have counted at least 40 power companies planning to charge more next year. Many have said they have no choice as their costs rise from legislation meant to encourage firms to turn to renewable energy sources.

The country's two other biggest utilities, RWE and E.ON, have not yet follow the price hikes after bleeding customers due to increasing competition in recent years.

Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

Change the world with a master's degree from Sweden's Linköping University

Master's students at world-leading Linköping University (LiU) aren't there simply to study. They solve real-world problems alongside experts in fields that can create a better tomorrow. Do you have what it takes to join them?

Advertisement