Scandinavia outraged about Germany's energy policy: Exploded prices!

Scandinavia outraged about Germany's energy policy: Exploded prices!

Uelzen, Deutschland - Germany is faced with a critical electricity situation that is inevitably attributing to import losses from Scandinavia. Political reactions from Norway and Sweden are devastating because the Minister of Energy openly denounced the federal government's energy policy. Norway's Minister of Energy described the situation as "absolutely terrible" and criticized the high prices that occurred due to the increasing demand for Scandinavian energy. The price increase in Norway is alarming: the electricity prices in the south of the country are currently almost 20 times as high as in the previous week. In Sweden, Ebba Busch's Minister of energy expressed sharp criticism that the inadequate energy supply in Germany was due to the decommissioning of nuclear power plants, which leads to a lack of prices.

exploding electricity prices and geopolitical tensions

The German wholesale prices for electricity recently rose to 936 euros per megawatt hour, which increases the dependence on energy imports from the north. This situation also cuts the offer in neighboring countries such as France and Denmark, where energy prices also increase. The Swedish government already proposes to capsize the energy laws to Germany in order to achieve a stronger price differentiation, while the Federal Ministry of Economics under Robert Habeck (Greens) is trying to present the exploding of prices as a temporary phenomenon.

This jump in the energy prices leads to massive concerns for German companies. The Feralpi electric steel mill had to set production phases in Saxony to avoid failures and costs, with losses of several hundred thousand euros. A comment also speaks of a "dirty and expensive" electricity in the picture that addresses Germany's dependence on energy imports and raises the question of whether the investments in renewable energies ultimately lead the country into new dependencies.

The negative effects on German industry reinforce the pressure on the government to find solutions. While some industrial companies are already reporting interruptions, an increasing number of votes in public and politics speaks that Germany must finally rethink their own energy system in order to have grown better. The protests from Norway and Sweden are only the beginning; The construction site of German energy policy urgently needs solutions.