Monthly wholesale electricity prices in Germany 2019-2023
In August 2023, the average wholesale electricity price in Germany stood at around 94.41 euros per megawatt-hour, a drop of 80 percent in comparison to the price recorded a year prior. In August 2022, figures reached a record high, at over 469 euros per megawatt-hour.
In the past year, electricity prices in Europe soared. This was the result of a myriad of factors, including increased heating demand due to cold winters, a rise in natural gas and coal prices, a drop in wind power generation due to low wind speeds, and more recently, Russia's invasion of Ukraine and extreme temperatures in the summer.
In the past year, electricity prices in Europe soared. This was the result of a myriad of factors, including increased heating demand due to cold winters, a rise in natural gas and coal prices, a drop in wind power generation due to low wind speeds, and more recently, Russia's invasion of Ukraine and extreme temperatures in the summer.
