Electricity prices are exploding – whoever is affected immediately


The Iran war is not only driving up gas prices. Electricity is also becoming noticeably more expensive – especially for new customers. Why this is the case and who it affects now.

In the wake of the Iran war, the Gas – now also electricity prices clearly. Anyone who is currently signing a new contract pays on average 31.68 cents per kilowatt hour – a Plus over five percent within three weeksas the consumer portal Finanztip reports.

Experts speak of an unusually strong increase. “The background is rising gas prices, which are now also reflected in electricity prices,” says Finanztip expert Benjamin Weigl.

Why existing customers are still spared

Striking: Above all New customers are affected. The reason lies in the procurement of energy.

Buy utilities Electricity for existing customers often long in advance a.

New contracts, however, will be calculated in the short term – and orient themselves much stronger at the current stock market prices. If these suddenly increase, new customers are affected immediately.

This effect does not initially apply to existing contracts – but that can change.

Gas determines the price of electricity – even for green electricity

That rising gas prices also make electricity more expensive, has a simple reason: the so-called merit order.

The electricity market will initially be… cheapest power plants used. If that’s not enough, come and after more expensive ones. Often they are Gas power plantswhich are switched on last and thus the Price for all electricity determine.

This means that even if a lot of electricity comes from renewable energies, an expensive gas power plant can raise the price for everyone.

Gas prices are rising even faster – and driving up electricity with them

In parallel with electricity, gas prices have also risen significantly. New customers currently pay an average of 10.47 cents per kilowatt hour – a Plus of around twelve percent within a few weeks, as Finanztip explains.

At the important European trading center TTF, the price of gas has climbed from around 30 to around 50 euros per megawatt hour since the end of February. After new attacks on energy infrastructure, the price recently jumped to more than 66 euros.

Experts warn: prices could continue to rise

Finanztip refers to the price on the Dutch trading venue TTF, which is considered a reference index for the European gas price: from around 30 euros per megawatt hour at the end of February, this rose to around 50 euros by March 17th.

If the price level for natural gas on the stock exchange “remains this high in the long term, new customer tariffs are likely to become a little more expensive,” explained Weigl. “If stock market prices rise even more, this will likely have an even greater impact on gas prices for households.”

Industry representatives warn that higher procurement costs often reach consumers with a delay. If the crisis continues, existing customers could also be burdened more heavily in the future.

“And this hammer doesn’t just affect the price of electricity and gas”

The debate

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