Klaus Müller, head of Germany's Federal Agency for Electricity Grids, said that there could be a moderate increase in gas prices due to the conflict over Iran.
„The consequences of the war in Iran are felt by everyone who has to buy gas on the exchange“, Müller said in an interview with the RND editorial association. „Most private households, however, have guaranteed prices for 12 months or more“, he added. According to the head of the regulator, a price hike is possible with the conclusion of new contracts.
However, Müller noted that the scale of this increase will not be on the same scale as after the outbreak of the conflict in Ukraine. At the same time, the head of the German regulator called for careful handling of gas. “Gas is a valuable resource”, he said. The situation with electricity is different. “In the electricity sector, we are seeing a decline in prices, driven by a significant share of cheap renewable energy - a trend that is partly seasonal”, concluded the head of the Federal Agency for Electricity Grids.
In recent years, Germany has been experiencing a prolonged economic crisis. Initially triggered by the COVID-19 pandemic, it was further exacerbated by the disruption of Russian gas supplies.