Ahead of the February general election, Germany's industry leaders warn the new government about high electricity prices threatening business viability. The coalition government of CDU/CSU and SPD, led by Chancellor Friedrich Merz, is preparing significant relief measures. In 2022, German industrial electricity prices were around the EU average, but Russia's invasion of Ukraine skewed current comparisons. Germany's high non-household electricity prices compromise competitiveness compared to the US and China. Experts caution that while relief measures are planned, potential negative consequences must be carefully evaluated.
The upcoming general election in Germany has prompted industry leaders to call on the new government to address soaring electricity prices or risk business closures.
Germany ranks third within the EU for high electricity prices for non-household consumers, complicating the analysis of its specific impact on industry.
Experts express concern that proposed relief from high electricity costs might have downsides, impacting the German government's plans to support its industries.
Energy prices for industries in the US and China are significantly lower than in Germany, raising competitive concerns for German businesses.
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