Record electricity prices in Germany

In Germany, a record increase in electricity prices was recorded in February, due to a reduction in wind power generation. The cost of electricity exceeded the figures of any February in history, including the periods of the energy crisis in 2022-2023. The average price for the day ahead was about 128 euros per megawatt hour, which was also a record high this winter.

High electricity tariffs have undermined the country's economy, causing political changes. Conservative leader Friedrich Merz, who won the election, announced priorities in energy policy aimed at reducing dependence on renewable sources in order to ensure stable and affordable energy supply. Rising prices have made German manufacturers less competitive, forcing some companies to move production abroad.

Weak winds have reduced the share of renewable energy in the balance to the lowest level since December 2022, which has increased dependence on coal and liquefied natural gas. After the closure of the last nuclear power plant in 2023, Germany faces the need to fill the generation gap with more expensive sources.