Good Morning from Germany – now facing a major energy price disadvantage.
Electricity used to cost about the same here as in France, sometimes even less.
But since March 2024, not a single day has seen lower day-ahead power prices in Germany.
On average, German electricity prices are now significantly higher than those of our neighbors – and that's hitting competitiveness hard.
IN CONTEXT:
AI Overview
Nord Stream 2 was a controversial natural gas pipeline project connecting Russia and Germany. While
proponents argued it would lower gas prices in Europe, the project's
suspension and subsequent geopolitical events, particularly the war in
Ukraine, led to soaring energy prices and a reassessment of energy
security in Europe.
- Germany's decision to halt the project's certification, coupled with Russia's weaponization of gas supply, has resulted in significantly higher energy costs for European consumers and businesses.
Here's a more detailed explanation:
Nord
Stream 2 was designed to bypass Ukraine and deliver Russian gas
directly to Germany, potentially increasing supply and lowering prices
in the EU.
CNBC
Germany halts Nord Stream 2 pipeline certification
Uploaded: Feb 22, 2022
1:29
Germany halts Nord Stream 2 pipeline certification
Uploaded: Feb 22, 2022
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