Energy prices in Germany still high in January

By Timo Kirez

BERLIN (AA) - Russia's attack on Ukraine nearly a year ago, on Feb. 24, 2022, had a massive impact on energy prices in Germany in 2022, but despite some moderation in prices, they still remain relatively high.

A recent downward trend notwithstanding, producer prices for energy were still one-third higher in January 2023 than in January 2022, Germany's Federal Statistical Office said Thursday.

The increase was most pronounced for natural gas, rising some 50% last month compared to January 2022.

For electricity, the increase in January was 27.3%. Mineral oil products such as heating oil or fuels were 12.6% more expensive at the beginning of 2023 than a year ago, despite recently lower prices.

Energy imports were also significantly more expensive in some cases in December 2022 than before the Russian attack, despite the current price decline, according to the Federal Statistical Office.

Gas imports, for example, cost almost a quarter more than in January 2022, imported petroleum products were 14.6% more expensive, and electricity imports cost 45.7% more.

According to the authority, energy products related to heating and refueling also became more expensive for consumers.​​​​​​​