Electricity and gas price cap

The Bundestag passed the draft laws for capping the energy prices in mid-December 2022 – however, the effects on energy-intensive industrial customers like us are still unclear. Continue reading

Both the electricity and gas price caps will thus officially come into effect from March 1, 2023 and are expected to take effect retroactively from January 1, 2023.

Since this information became known, we have been trying to assess its significance for our Group of companies. The focus here is on the actual impact of the energy price cap on our purchase prices for electricity and gas at our two sites in Sörup and Radevormwald.

The information available from central bodies, such as the Federal Ministry for Economic Affairs and Energy, is currently very general. Many questions remain unanswered, especially for energy-intensive companies. Even the determination of the funding level has not yet been sufficiently clarified.

In this situation, a well-founded statement on the effects of the energy price cap for our Group of companies is unfortunately not possible. Under the given framework conditions, we must continue to purchase our electricity and gas needs on the spot market at the prices there and continue to charge our customers transparently in accordance with the current ETZ regulation*. We are closely monitoring further developments on this topic and are using all sources of information from the federal government, industry associations and consulting companies for our sector.

After all, the announcement of the energy price cap combined with warmer and windier weather seems to have already led to a certain degree of calm in the energy markets. Our customers will benefit from this very promptly through our ETZ regulation.

 

*ETZ regulation – energy surcharge

Sources:
BDG Circular No. 30: Energy price cap update
BMWK “FAQ list regarding the electricity price cap” from 15.12.2022 (https://www.bmwk.de/Redaktion/DE/Downloads/F/faq-strompreisbremse.pdf?__blob=publicationFile&v=4)

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