On July 14, the German Federal Network Administration (Bundesnetzagentur) announced that, after Russia stopped supplying gas through the Nord Stream 1 pipeline, the level of filling the pipelines Gas storage facilities in Germany have been reduced, some even have to pump to the market. The agency warned that gas prices are likely to increase at least threefold next year.

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Reporters in Germany quoted the Bundesnetzagentur announcement as saying that more gas was taken out than in, causing gas storage to decrease and it became more difficult to reach the required level of reserves for the winter. Currently, the capacity of storage tanks in Germany is 64.5%. During Nord Stream 1’s closure for maintenance, no natural gas is transported to Germany via this pipeline, but only from other routes such as the Yamal pipeline or the pipeline. Shipping via Ukraine.

However, the Bundesnetzagentur said gas supplies in Germany were generally “stable” and supply security was assured. However, the situation is tense and does not exclude the possibility that it will get worse. Against this backdrop, energy prices will rise dramatically and businesses and consumers alike will have to self-regulate.

From 2021 to the present, energy prices in Europe, especially in Germany, have increased, in part due to the global crisis. After Russia launched a military campaign in Ukraine and was subjected to many Western sanctions, the energy market got worse. Currently 1kw of electricity generated from gas costs about 22 cents, four times higher than in 2021.

According to estimates by the Bundesnetzagentur, gas consumers’ monthly prepayments will at least triple next year. Bundesnetzagentur President Klaus Müller said that customers currently paying 1,500 euros a year for gas will pay up to 4,500 euros or more, and this is “absolutely a reality” that can happen. According to Mr. Klaus Müller, although consumers do not have to pay in full immediately, they still have to pay at some point. Therefore, he urged consumers to increase savings to reduce costs. In the near future, Germany will continue to import gas from Norway and gas stations from Belgium or the Netherlands.

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