Fri. Oct 30th, 2020

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German consumers to get cheaper power

1 min read

Solar energy panels at Germany

German consumers can look forward to lower energy bills next year after a reduction in a surcharge they pay to support renewable power.

Average households will see power prices fall by 1%, which translates to 12 euros of annual savings for a three-person household, price comparison site Verivox said on Thursday.

The surcharge was originally introduced to support the expansion of carbon-free green power from wind and solar plants, but it has become inflated as renewable production costs have fallen steeply.

From next year the surcharge will fall by 3.8% to 6.5 euro cents (7.6 dollar cents) per kilowatt hour (kWh), transmission grid operators said earlier.

Power network operators had confirmed the government plans for the cut, which came as part of an economic stimulus package passed in the summer, would go ahead.

The fee, collected under the renewable energy act and paid to producers, had risen by 5.5% in 2020 to 6.756 cents, effectively costing consumers 24 billion euros.

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