Gas bills could triple by 2023, Germany's Network Agency warns

The President of the Federal Network Agency has warned that gas prices for consumers could triple within the next year, and urged people to start preparing for significantly higher utility bills.

Gas bills in Germany could triple by 2023
“For those who are now getting their heating bills, the prepayments are already doubling - and the consequences of the Ukraine war are not even being taken into account,” Klaus Müller, head of the Federal Network Agency, told RND. “From 2023, gas customers will have to expect their payments to triple, at least.”

He said that it was “realistic” for customers who currently pay 1.500 euros a year for gas in Germany to expect to pay 4.500 euros or more in the future. “On the stock exchange, prices have increased sevenfold in some cases. Not everything reaches consumers immediately and not in full, but at some point, it has to be paid for.”

Consumers advised to voluntarily increase gas monthly payments
Müller advised consumers to prepare for price hikes by voluntarily increasing their monthly payments, to avoid a big shock when the next bill comes through. He also suggested making adjustments at home, for instance by getting the boiler serviced to ensure it is operating efficiently, to save energy.

Müller rejected concerns that private households might see their supply limited in the event of a gas shortage. “The German and European legal situation provides for private households to be protected to the end,” he insisted. He said a scenario in which homes are no longer supplied with gas wasn’t likely. “Even in the worst scenario, Germany will continue to get gas from Norway and from terminals in Belgium or Holland, [and] soon also directly from terminals on the German coast.”

Source: IamExpat Media