Electricity prices are exploding: the dark doldrums hit consumers hard!

Electricity prices are exploding: the dark doldrums hit consumers hard!

The choice is decided! Yesterday, Sunday, the citizens of Germany elected a new Bundestag. The democratic parties have sent courageous representatives to the meetings, and it is already clear that the government will come into office under the leadership of the new Chancellor Friedrich Merz. It was important to set a clear course in this election, particularly at a time of significant economic upheaval and the challenges of climate change. The driving force of the energy transition remains crucial, because renewable energies from sun and wind are not only environmentally friendly, but also unbeatably cheap to produce. Oekonews reported, that the current cost of electricity generation through photovoltaics is between four and seven cents per kilowatt hour - a clear advantage compared to fossil fuels.

Dark lulls drive up electricity prices

But while Germany is setting its political course, we are experiencing price spikes on the electricity market. A so-called dark lull, characterized by little wind and cold weather, has led to a dramatic increase in electricity prices. At times, over 900 euros per megawatt hour were being demanded on the stock exchange - higher than ever since the energy crisis. How ZDF reported, this happened due to a rare combination of factors: little available renewable energy and high demand on cold weekdays. Experts are surprised that despite the high prices, many coal and gas power plants were not operating at full capacity. This unexpected power gap is leading to an increase in production costs for companies that rely on dynamic electricity tariffs, such as the Riesa electric steelworks, which stopped production due to high prices.

The challenges highlighted demonstrate that Germany must focus more than ever on the integration of renewable energy sources and the development of flexible energy storage. The faster the new cabinet takes up reports from specialist associations, the sooner the goal of a stable and sustainable energy supply can be achieved. To ease the financial pressure on consumers, there needs to be a rapid rethink of energy policy as the cost of sustainable energy falls worldwide and the demand for stable solutions increases.