Germany’s Federal Network Agency, the Bundesnetzagentur, forecasts that temperatures this week should be slightly lower than last week, thereby raising gas consumption on the continent.
The Bundesnetzagentur has changed its assessment of the temperature situation this week from “tense” to “critical.” The situation is “tense” when the average temperature for the upcoming seven days is zero to two degrees Celsius below the average; and the situation is “critical” when the average temperature is lower than two degrees Celsius below the average.
As far as the price inflation of electricity supply is concerned, by the end of November, many municipal utilities had announced huge price increases for the new year on the same grounds. In Leipzig and Munich, the basic supply tariffs for electricity will rise by almost 150 percent from this month. In Leipzig a kilowatt-hour now costs approximately 52 eurocents, and in Munich it is approximately 62 eurocents.
In comparison, the average October 2022 residential electricity cost in the U.S. was approximately 16¢, up from 14¢ one a year earlier, an annual increase of 14%.
