Dena Expects 20% Electricity Price Increase by 2020

Many electricity suppliers have announced to raise their prices at the end of the year. The German Energy Agency (dena) understands this as a sign for a long-term trend due to the German energy turnaround and assumes that electricity prices will increase by 20% by 2020.

In the light of the increase of energy costs, dena reminds that a key issue for a successful energy turnaround is not only the promotion of renewable energy but also conserving energy.  According to dena’s calculation, an average four person household could reduce its energy consumption by the use of energy efficient equipment and optimized energy usage by up to 25 percent. With an average consumption of about 4,500 kWh at 24 ct/kWh, this currently adds up to EUR 1080. With electricity prices of 29 ct/kWh in 2020 and reduced consumption by 25%, the 20% increase in electricity price could be more than compensated, leading even to savings of around EUR 100.

Therfore Stephan Kohler, head of dena, suggests supporting energy conservation and efficiency measures for example by providing energy advice, supporting programs or granting micro credits for the purchase of energy-efficient appliances.

Source: dena

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