Price hikes announced for retail consumers in Germany

16/08/2010 08:46 Natural Gas


One third of retail gas companies in Germany already announced a price increase.

At the moment, all gas firms are expected to announce price hikes, as gas prices in Germany are index-linked to oil. The price increase is expected to range from 7.5 % to 13%, starting from October, when heating season begins. Nine important retail gas companies announced already the price increase starting with Q4 2010, and the effect could be that more players will decide on price increase. However, several big companies could not make the move, depending on the spot contracts that they can buy. Gas spot prices are lower than the futures traded several months ago. With lower oil prices the companies relying on spot prices could maintain the prices at the same level.

Vestas wins 166MW Polish order

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Two projects will comprise 48 V126-3.45MW turbines


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Crude oil futures were little changed on Tuesday as an apparent optimism that U.S. crude inventories will decline this week was overshadowed by the surge in coronavirus cases in parts of the world which continued to pressure prospects for energy demand. Hence, Brent crude for September delivery steadied at $43.08 a barrel, while the U.S. WTI crude stagnated at $40.62 a barrel.


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