German electricity prices to remain stable until 2017 - report

Apr 8, 2014 - German Economy Minister Sigmar Gabriel said the reform in Germany’s clean-energy to be approved today would keep power prices stable until 2017.

Germany has a good chance keeping prices unchanged for the next three years, the minister told public broadcaster ARD on Monday.

The economy ministry has estimated earlier that the surcharge consumers pay to fund the energy transition would remain 6.24 euro cent (USD 8.58 cent) per kilowatt hour through 2017, with the possibility of increasing to 7.1 euro cent by 2020.

The changes in the so called green act EEG are designed to curb the massive expansion of renewable power in Germany, which also led to skyrocketing prices.

(EUR 1 = USD 1.375)

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