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It’s happening! The Renewable Energy Law will be reformed and the EEG levy abolished, becoming effective on July 1st 2022.
This does not only relieve consumers of the rising energy prices, but also shows that the concept of the EEG levy has been very successful in the past and was on the verge to abolish itself anyway.
Renewable energy plants are no longer niche technology! They are also worthwhile in terms of price. Energy from renewable energies can even be generated more cheaply than in conventional plants. At Ostrom, we already purchase part of our energy through Power-Purchase-Agreements (PPAs) and support plants outside the EEG subsidies anyway, and we will continue to add even more PPAs to our portfolio in the future.
While we have held off passing on the early price shocks of the war in Ukraine, the wholesale energy market remained elevated due to recent events. Fortunately, it now seems like prices are stabilizing.
Of course, Ostrom only purchases green electricity, but its prices are linked to the general electricity price. In order to reflect the current price level, have to adjust our working price and bring it into line with current market levels.
The chart above shows the price development in the beginning of 2022 and how Ostrom reacted to high fluctuations. We now approach current market level and pass on the renewable energy levy abolishment to our customers.
We will closely monitor the current situation and the development of the markets and continue to pass on our fair price to all our customers. If the markets and electricity prices continue to calm down, we will also lower our prices again.
However, the following still applies: it is better not to sign any electricity contracts with long terms now, the markets will calm down and thus also the general price level 🙂
Picture by Colin Behrens on Pixabay
People Behind Ostrom: Johannes, Finance Lead
People Behind Ostrom: Tina, Operations Associate