November Release of the ECF Energy Price Monitor for Germany & Poland

Accelerated increase in energy costs – from low level

  • Higher oil prices increase costs for energy consumption in Germany by 1.5 per cent in October
  • Particularly sharp price increase in heating oil
  • Decrease in gas and central heating prices slow down inflating costs for energy

5-main_en-jpg BERLIN – After the interim peak in the international oil markets, the increase in energy prices for German consumers in October also accelerated significantly. On average, prices for all energy carriers rose by 1.5 per cent compared to September. In September, the rise had already been 0.7 per cent. Meanwhile, crude oil prices in the international markets have fallen again – which will have a dampening effect on energy price increases in November. These are the results  of the most recent analysis by the European Climate Foundation (ECF).

Another increase in energy prices

  • In October, average prices of energy increased by 0.6%
  • Energy price growth was driven by transport fuels and seasonally increased demand for solid fuels
  • Disappearing deflationary impact of energy prices resulted in returning inflation

5-main_en-jpgWARSAW – October was the second consecutive month of rising energy prices. The price increase, however, was slightly lower than in September and amounted to 0.6%. Energy prices thus reached their highest level since the beginning of the year. Transport fuels drove the majority of the energy index rise. Another significant factor was an increase in solid fuels prices, driven by a seasonal spike in demand for heating. Nevertheless, the average price of energy for Polish consumers is still 0.8% below October 2015 levels.