Tuesday, December 6, 2022

German expert warns of “unexpected price peaks”

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The German energy expert Manuel Frondel has warned of possible “unexpected price peaks” in view of rising electricity prices. However, he does not think much of price caps. (archive image)

“It is to be expected that electricity prices will continue to rise in autumn and winter because the demand for electricity increases during this time, especially in countries like France, where electricity is used for heating,” said the energy expert from the RWI Leibniz Institute for Economic Research Düsseldorf “Rheinische Post” from Tuesday.

“If the supply then remains tight, for example if half of the French nuclear power plants continue to fail, or if the supply is even tighter, as with the shutdown of the three remaining German nuclear power plants, the electricity price can reach further unexpected price peaks.”

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