BERLIN – Gas and electricity prices for consumers in Germany are falling, the online price comparison portal Verivox announced on Monday.

“The time of record prices is behind us,” the online portal Verivox announced. The company explained that distributors have started passing on lower energy commodity prices on global exchanges to end consumers as well.

However, as it is added at the same time, prices still remain at a historically high level.

The average price of a kilowatt of electricity in mid-May amounted to 45.78 cents, and gas to 15.57 cents.

However, these prices are still above the upper limits (40 cents for electricity, 12 for gas) above which the state assumes the largest part of users’ costs, as was decided last year as part of a package of measures by which the German government decided to mitigate the financial consequences of inflation and the dramatic rise in energy prices in the shadow of the Russian attack on Ukraine.

In April, the inflation rate amounted to 7.2 percent, which is noticeably lower than in November last year, when it exceeded the 10 percent threshold.

Source: seebiz.eu