The markets are preparing for even higher electricity prices in the future. A recent Verivox survey asks: What do voters actually say about this?
Dhe electricity price in wholesaling has reached its highest level in six years – that doesn’t bode well for electricity prices for consumers either. That was the reason for a survey for the Internet portal Verivox, which lives from the brokerage of cheaper electricity tariffs. How do people expect the price of electricity to develop – and how does that relate to their political attitudes? In the run-up to the grid summit on September 20, at which representatives of the federal and state governments are to discuss the expansion of the power grid with grid operators, Federal Minister of Economics Peter Altmaier has called for “affordable electricity for everyone”. “But consumers are preparing for rising prices.”
According to the survey, more than half of consumers in Germany (58 percent) assumed that electricity prices in Germany would continue to rise in the next twelve months. 44 percent expect electricity prices to rise slightly, and a further 14 percent expect a sharp rise. Around one in four (27 percent) said they rely on stable prices. According to the survey, only eight percent of citizens assume that electricity in Germany could become cheaper over the course of the year. And this despite the fact that electricity prices for consumers have been at a record level for a long time. After all, 46 percent of those surveyed said the electricity price level was “no longer acceptable”. 56 percent found the electricity bill to be a significant financial burden.
Cause in green electricity surcharge
Verivox has also dealt with the question in which political camps the pessimism about the development of electricity prices is particularly pronounced. The expectation of rising electricity prices is particularly widespread among AfD voters (70 percent), followed by voters from the Left (69 percent), the Greens (66 percent), the FDP (61 percent) and the SPD (58 percent). Among the voters of the Union, 54 percent expect more expensive electricity, i.e. a little less.
In recent years, the green electricity surcharge (EEG surcharge) in particular has resulted in higher electricity prices in Germany. This year, this surcharge, with which alternative electricity generation is promoted, has even decreased slightly. However, the European Union is reforming the trade in so-called CO2 certificates, which entitle companies to emit carbon dioxide. As part of a reform of this system, these certificates are to be made more scarce than originally planned.
Wholesale prices at record levels
The background is climate protection. This has recently driven the price of the certificates up, it has quadrupled within a few months from 5 to 20 euros per ton. But because many power plants need such certificates for electricity generation, the electricity price on the EEX electricity exchange has also risen significantly. Analysts at the major bank HSBC highlighted in a study on the share of the energy company RWE that they are expecting a higher electricity price in the wake of the shortage of certificates. You come to a buy recommendation for RWE.
“In fact, there are first indications of an imminent increase in electricity prices,” said Mathias Köster-Niechziol, Verivox’s energy specialist. “The wholesale prices are at a record level, so that some energy suppliers could come under pressure in view of rising purchase prices.” Consumers, on the other hand, could breathe a sigh of relief with the EEG surcharge: “According to current forecasts, it should remain stable in the next year.”