Germany’s Federal Network Agency has estimated that consumers could see their monthly heating bills triple next year due to dwindling Russian gas imports. Russia’s war on Ukraine is drastically impacting energy prices.
Germany’s energy regulator has estimated that monthly heating bills could triple next year due to a significant decrease in Russian gas imports.
“For those now receiving their heating bill, the payments are already doubling — and that is before taking into account the Ukraine war,” Federal Network Agency chief Klaus Müller told Germany’s RND news outlet.
“From 2023, customers must prepare for bills to at least triple,” he said, adding that market prices were increasing sevenfold in some cases.
People will need to make financial provisions, the grid agency boss warned.
“It won’t affect all consumers immediately or in full, but at some point it has to be paid for,” he said. “That’s why it makes so much sense to save more now.”
Will Germany run out of gas?
Müller said higher procurement costs could be met with subsidies for gas companies or by passing the cost on to consumers while offering state assistance to those unable to pay the increased prices.
Germany relies heavily on imported Russian gas, supplies of which have dropped since the Kremlin ordered its troops to invade Ukraine.
Nevertheless, Müller said private households would be protected during an energy crisis under German and European law.
“Even in the worst-case scenario, Germany will continue to get gas from Norway and from terminals in Belgium and Holland, and soon directly from terminals on the German coast,” he stressed.
Read More: Germany: Consumers can expect heating bills to ‘at least triple’