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End of energy price caps: So many are affected

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End of energy price caps: So many are affected

Chancellor Olaf Scholz (SPD) speaks at a government statement on the budget situation in the Bundestag. picture alliance/dpa | Michael Kappeler

In a government statement on Tuesday, Chancellor Olaf Scholz (SPD) announced the end of the energy price caps, which are no longer necessary due to the lower prices.

A representative survey commissioned by the comparison portal Check24 shows that 24 percent of consumers have electricity contracts above the price limit – for gas it is only 14 percent.

There are also other reasons why the end of the energy price caps is not a bad thing.

The traffic light coalition has everything under control in the budget crisis, that is the message that Chancellor Olaf Scholz (SPD) sent in his government statement on the budget situation on Tuesday. He did not present any way out of the billion-dollar hole. One thing is certain, however: According to Scholz, the state energy price brakes will no longer apply.

They were actually supposed to run until the end of March, but will no longer be necessary next year due to the lower prices. If prices unexpectedly rise dramatically, countermeasures can be taken in the short term, explained the Chancellor.

Falling prices speak against the price brakes

In addition, world market prices have been falling for a long time. As a result, the markets in Germany have also calmed down. The average price for electricity consumption of 5,000 kWh has fallen by more than 20 percent (calculated without the electricity price brake) from December 2022 to today.

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Survey shows: Only a few people still benefit from price caps

A representative survey commissioned by the comparison portal Check24 shows that 24 percent of consumers have electricity contracts above the price limit – for gas it is only 14 percent. Only with basic suppliers are the prices of electricity and gas tariffs often above the price cap, according to the comparison portal.

Almost every second person surveyed does not know whether they are currently benefiting from the gas or electricity price cap.

“It is important for customers to check their contract now and change provider if the costs are too high. Only by switching to a cheaper provider will consumers avoid a nasty surprise if the price caps expire prematurely,” explains Steffen Suttner, Managing Director of Energy at Check24.

With material from dpa.

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