Image: Volker Weihbold
Household energy prices fell month-on-month in December. The energy price index (EPI) fell by 2.4 percent compared to November. However, in a year-on-year comparison, the PPI was 6.7 percent higher, and in a two-year comparison (i.e. as of December 2021) it was even plus 35.2 percent, the energy agency announced in a press release.
Compared to November 2023, prices fell, particularly for fuels such as heating oil (minus 5.5 percent), diesel (minus 4.9 percent) and premium gasoline (minus 4.4 percent). A typical annual requirement of 3,000 liters of heating oil cost around 3,600 euros in December, a typical 50-liter tank of diesel cost around 80 euros and a tank of premium gasoline was available for around 74 euros.
Wood pellets were 1.7 percent cheaper month-on-month. However, changes in the other energy sources were limited. Electricity prices fell by 0.6 percent compared to the previous month and firewood prices fell by 0.5 percent. Natural gas remains expensive, with prices only falling by 0.2 percent. District heating also remains expensive; prices have not moved month-on-month.
Electricity price brake caused prices to rise
The energy agency writes that the prices for household energy that have risen again compared to December 2022 are primarily due to the electricity price brake coming into force. At the time, the measures had driven end consumer prices down by 21 percent.
The energy agency believes that the planned halving of the electricity price cap to 15 cents per kilowatt hour (kWh) makes sense. “Falling wholesale prices make it possible to bring cheaper offers onto the market that no longer have to be subsidized by the state to this extent,” explains Karina Knaus from the Energy Agency. The agency recommends that customers who are able to change tariffs actively look for new tariffs in the coming weeks.
more from economics
