13 Oct. 2021 19:29
RT DE wanted to know why energy prices are rising so rapidly at the moment and asked energy expert Andreas Schwenzer about this. This gave answers to questions about what future developments in the markets could be foreseen and why E.ON had done nothing wrong, even though it did not accept any new customers.
Andreas Schwenzer is an energy expert at the Horváth management consultancy in Hamburg. Among other things, he advises energy providers on risk management.
RT DE asked him the reason for the current increases in energy and other raw materials. Schwenzer replied that the providers had adjusted their capacities in the Corona crisis. However, demand has recovered faster than expected. This is not only the case with gas, but also with coal and oil.
But he is convinced that it is a temporary effect. You can still see higher prices on the futures markets for the next year, but:
“It can currently be assumed that we will see a significant relaxation in the price level from 2023 onwards.”
As is being discussed in other European countries or has already been decided, politics could intervene in the taxes, levies and levies that are on energy prices.
“Nonetheless, it has to be said clearly that the fact that fossil fuels are becoming more expensive is a fundamental political goal.”
RT DE wanted to know what went wrong when E.ON, one of the largest energy suppliers in Germany, stopped accepting new customers. Schwenzer replied that nothing went wrong. The company has a responsibility to the existing business and existing customers. If the sharply increased prices could not be passed on to the end customers, a break would be sensible.
“If I now have an assumption, for example taking 20 euros into account in my calculation, the whole thing has to buy in for 60, 70 euros per megawatt hour, so it is clear that this is not economically viable.”
He sees no connection between the expansion of the money supply by the ECB and the rise in energy prices. The gas market is global, and developments in the US and Asia are following the same pattern.
“It is simply a global market development that is now also being reflected in prices in Europe.”
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