Household gas prices in Germany halved year-on-year at start of heating period 2023 – Verivox
Clean Energy Wire
German households face much lower costs at the start of the 2023 heating period than a year earlier, said price comparison website Verivox. Prices for natural gas have fallen by an average of 43 percent year-on-year, while the cost of heating oil has dropped by 25 percent, it said in a press release. "In all likelihood, households in Germany will be spared the record prices of last year in the coming heating period," said Thorsten Storck, energy expert at Verivox. "However, the price level remains high and the gas markets are nervous. Further price reductions are therefore not to be expected at present," he added. On a country-wide average, one kilowatt hour (kWh) of gas currently costs 11.7 cents, down from 20.5 cents in October 2022, said Verivox.
Gas prices, both wholesale and final household consumer prices, soared in 2022 due to the energy crisis, which was fuelled by Russia’s war against Ukraine and the halt of deliveries of pipeline gas from the country to key European states like Germany.
