Thanks to the Energiewende (transition to green energies), which is tantamount to a vegan energy diet, Germany’s electricity prices have soared 27% over the past decade to become the most expensive in Europe, if not the world, according to the STROM-REPORT.
Source: Infografik “Strompreise in Europa 2020”, STROM-REPORT.de, Creative Commons License CC-BY-ND
Taxes, surcharges and a catalogue of other fees make up 53.6% of Germany’s electricity price, only Denmark has a higher share at 67.8%. Only five European countries have seen electricity prices drop over the last 10 years.
Soaring prices in Latvia and Great Britain
No country has seen electricity rates rise more than in Latvia and Great Britain, where the price has risen a whopping 55% and 46% respectively over the past 10 years.
What’s behind the high electricity prices? According to the STROM-REPORT: “The biggest intra-European differences are caused by taxes and duties. The EU average is 36.6%. But the values vary from country to country and are highest in Denmark with 63.7%. In Germany, where the government-induced price components also account for more than half [52.3%] of the price, the EEG levy, which enables the expansion of renewable energies, is included at 21.5%.”