This winter the cost of electricity in Germany reached a historical maximum in the last twenty years. The reason was the rapid rise in fuel prices on the largest electricity market in Europe.

Electricity futures in Germany for the fourth quarter of 2021 are trading at over 100 euros for megawatt per hour. That is twice as expensive as last year and 50 percent more than the highest average daily price since 2020. A similar rise in prices is observed throughout Europe. The cost of electricity in Spain rose to a record 122.76 euros for megawatt per hour.