Germany expects electricity prices to rise by 60%

BERLIN, Sep 16 – PRIME. In Germany, electricity prices for end-users could rise by 60% next year, the German Association of Local Utilities (VKU) said.

Germany continues to export electricity to France

“We expect further growth in electricity prices. So far, the growth has been about 10%, next year prices are expected to rise by about 60%,” a representative of the association said on Friday during an interview with the Neue Osnabrucker Zeitung newspaper.

He explained that so far electricity prices have risen to a lesser extent than gas prices, which are already 30-60% more expensive for consumers this year. From VKU’s point of view, this development will continue next year, “maybe even get worse.”

“Price increases of several thousand euros a year will be an excessive burden for many. We need a comprehensive assistance program not only in relation to price increases this year, but also next,” the representative of the association emphasized.

Read This Now:   “Cryptocurrencies cannot be compared to gold”

After the start of a special military operation in Ukraine, the West stepped up sanctions pressure on Russia, which led to an increase in prices for electricity, fuel and food in Europe and the United States. Russian President Vladimir Putin has previously stated that the policy of containing and weakening Russia is a long-term strategy for the West, and sanctions have dealt a serious blow to the entire global economy. According to him, the main goal of the West is to worsen the lives of millions of people.