Electricity prices in Germany were at €280/MWh in early December, almost 300% higher than the €72 in early November, boosted by wind speeds and colder weather. Hamburg hit the minimum wind speed required for electricity generation at around 5 meters a second, or about 11 miles an hour. At the same time, natural gas prices also rose as stockpiles started to withdraw along with lower temperatures. Elsewhere, France continues to struggle with maintenance works in nuclear power plants while river levels dropped to multiyear lows after the continent experienced a scorching summer. On the political front, Germany announced that it will cap household prices at 40 cents per kWh for 80% of actual consumption. Comparatively, for industrial consumers, electricity will be limited to 13 cents per kilowatt-hour, applied for 70% of the previous year's consumption.
Electricity Price in Germany averaged 51.89 EUR/MWh from 2000 until 2022, reaching an all time high of 699.44 EUR/MWh in August of 2022 and a record low of -56.87 EUR/MWh in December of 2012. This page includes a chart with historical data for Germany Electricity Price. Germany Electricity Price - data, forecasts, historical chart - was last updated on December of 2022.
Electricity Price in Germany is expected to be 365.57 EUR/MWh by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Germany Electricity Price is projected to trend around 3050.01 EUR/MWh in 2023 and 7125.86 EUR/MWh in 2024, according to our econometric models.