Technical Analysis

Germans will have to prepare for more power, gas price hikes in January

The price portal says that many German households face at least another 50% hike in power and gas supplies come January, due to a lag in suppliers passing on higher wholesale market prices and rising grid fees. Some 137 regional power suppliers will raise prices by an average of roughly 61% and 167 gas suppliers by around 54%, according to Verivox.

German lawmakers have been trying to step up their game to try and provide relief by just by looking at the situation, it is going to further erode consumption activity and purchasing power among consumers. It’s going to be a rough turn of the year in Germany.

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