In Germany, gas supplier stopped working due to high prices

Gas prices are high in Europe

To preserve jobs, DEP decided to focus on services in the energy sector.

In Germany, industrial gas supplier Deutsche Energiepool (DEP) has negotiated contracts with customers due to high market prices. This is reported on her website Friday, September 24th.

“Many of our clients have received from us termination of contracts for the supply of natural gas in the past few days,” – said in a statement.

It indicates that the purchase prices for gas and electricity on the market have almost tripled over the past few months, and fourfold for new purchases.

“Since we have to buy daily spot volumes despite buying from the forward market to balance our balancing groups, our own purchasing prices have roughly tripled,” the company said.

DEP added that in such a situation they cannot maintain gas supplies due to economic unreasonableness.

The company is also completely shutting down natural gas supplies throughout Germany. To preserve jobs, DEP decided to focus on services in the energy sector.

As writes Interfax citing German media, this is the first gas supplier to react in this way to rising market prices. The number of clients affected was not disclosed. It is known that instead of DEP supplies to customers will be carried out by the Eon holding.

Recall gas reserves in European UGS facilities are at a minimum in 10 years. On average, they are 72% full as of September 22nd.

Russian Gazprom is blamed for the gas shortage. Thus, Prime Minister Denis Shmygal said today that the gas concern artificially created such a situation for blackmail and the commissioning of Nord Stream 2.

In turn Gazprom calls accusations absurd in the shortage of gas on the European market.

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