Despite Wholesale Gas Prices Falling, Energy Supplier Warns Consumer Prices to Double

The price of electricity and gas is likely to remain high in Europe for the foreseeable future, with one German supplier warning that prices are likely to double in the coming months rather than go down.

Ingbert Liebing, the head of the Association of Municipal Enterprises in Germany, has warned the public that gas and electricity prices are more likely to go up than down in the coming months, with his organisation expecting prices to soon double once again.

Although many nations across the continent have managed to avoid the worst-case scenarios of gas shortages this winter, prices across Europe remain prohibitively high, with the price of both utilities increasing by around 90 per cent in most EU capitals since the start of the war in Ukraine.

Now, despite the fact that wholesale prices for natural gas have actually gone down, it appears that energy bills are only set to rise even further, with Liebing issuing a warning that the huge increase in energy prices is likely here to stay for most Europeans.- READ MORE