Although energy is now much cheaper than last autumn, prices can quickly rise again during a cold winter. E.ON, the German parent company of Essent and Energiedirect, warns against this. “The energy crisis is not quite over yet,” says director Leonhard Birnbaum.
The prices of gas and electricity on the wholesale market are much lower than last year, says Birnbaum at the presentation of the half-year figures of the German energy group. E.ON benefits from that. The company’s profit rose from 4.1 billion euros in the first half of 2022 to 5.7 billion euros in the first half of this year.
These lower energy prices mean that millions of customers can pay less, says Birnbaum. But he warns consumers and companies to be careful with their energy consumption.
According to the E.ON director, the energy crisis is not yet completely over. “Energy prices could spike again this winter if gas supplies run out faster than expected, combined with a cold winter.”
The International Energy Agency said in a report last month that market tensions could easily increase if the winter turns cold. This is especially likely if Russian gas supplies to Europe stop altogether early in the heating season.
2023-08-09 11:00:48
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