Germany will cut a green energy surcharge on consumers’ electricity bills by 5.7 percent next year, but savings for households will be limited as other fees are expected to rise.
Germans pay the highest electricity bills in Europe as state-induced taxes and fees account for over 50 percent of power bills.
German power network operators (TSOs) said on Monday that revenues collected to support green electricity are high and wholesale market prices have risen, allowing renewables producers to rely less on subsidies.
Next year the surcharge under the renewable energy act (EEG) – a fee that accounts for over a fifth of energy bills – will fall to 6.405 euro cents (7.4 US cents) per kilowatt hour (kWh), from 6.792 cents this year, TSOs said in a statement.
That was a steeper cut than forecast by industry group BEE last week, but may be offset by rises in other levies such as those on use of transport grids.
“Consumers should not pin too much hope on noteworthy price cuts by their electricity suppliers,” said Arik Meyer, managing director of SwitchUp, an online service for supplier switches. Continue reading “Germans to pay slightly lower levy for renewable energy in 2019”