Germany's EnBW to further raise retail gas prices
German utility EnBW said on Tuesday it would raise retail gas prices by more than a third from December due to higher procurement costs.
The move would raise the bill for a typical family of four by an additional €768 a year, but the value-added tax, which has fallen to seven percent since early October, should cushion the increase slightly.
Starting December 1, 2022, prices will rise by an average of 38% to 13.54 eurocents per kilowatt-hour (kWh), according to the company. In July, the increase was almost 35%.
The company said gas prices on the wholesale markets averaged around 2 eurocents per kWh in previous years, while they have increased fivefold to about 11 eurocents per kWh so far this year.
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