Why your electricity check is about to burst adult during New Year

A investigate expelled by cost comparison website Verivox on Monday shows that 250 German electricity providers will be putting adult their prices by an normal of 3.5 percent on Jan 1st. Such an boost would meant that households will be profitable an normal €50 some-more in 2017 than they paid this year.

In total, one in any 4 electricity providers is set to lift a prices during a start of a year, Verivox estimates.

All German appetite firms are thankful to surprise consumers of cost increases 6 weeks before they happen, definition those upping tariffs on Jan 1st had until a start of this week to tell a increase.

The vital appetite concerns RWE, E.ON, EnBW and Vattenfall have reason behind on cost increases, spokespeople said.

But their prices could also go adult after in a year.

“In a past we have beheld that many providers reason their prices down during a start of a year, though jack them adult in a after cost increase,” pronounced Jan Lengerke, a house member during Verivox.

“For this reason we design a second call of increases in early 2017.”

Price comparison website Check24 believes that over a whole of 2017, electricity costs will arise by between 4 and 5 percent in 2017.

The means of a cost boost is not a cost for electricity on a markets, that was during a record low in a initial half of 2016. Instead it is subsidies for renewable appetite – that will arise by 8.3 percent in 2017 to 6.88 cents per kilowatt hour – that are pulling a increase.

This subsidy, famous as a “EGG levy” is paid for by a consumer for any kilowatt hour of electricity they use, and will volume to around €29.5 billion in a year.