This is how expensive refueling, heating and electricity will now be
Rumble - the CO2 price introduced by the German government at the beginning of 2021, which will gradually increase, will not rise from 30 to 40 euros per tonne as originally planned, but to 45 euros. Read here to find out how much more expensive life will be for consumers.
A pleasant surprise. The price of a tonne of CO2 will rise more than planned in the new year. Namely to 45 euros per tonne. With this and other decisions, the coalition government is trying to save its budget for next year at the last minute.
The CO2 price affects fossil fuels for the heating and transport sectors, such as gas, heating oil and petrol. The use of climate-friendly alternatives and energy saving is to be further stimulated by the rising CO2 price, for example through the use of electric cars, the use of heat pumps for heating or the insulation of the building envelope.
The increase will make life more expensive for consumers. Finally, it affects fuel, heating and electricity (heating oil prices, natural gas prices or petrol prices). This is because companies usually pass these costs on to consumers. The North Rhine-Westphalia consumer advice center had already given this some thought. However, with the original price increase. ntv.de took to the calculator and recalculated the matter with the new value of 45 euros. Here are the results:
Heating oil
Heating oil will become 4.8 ct/liter more expensive, so a tankful of 2000 liters will cost an additional 96 euros compared to 2023. Overall, the CO2 price will rise to 14.29 ct/l, which is around 285 euros more expensive for an annual consumption of 2000 liters than if there were no CO2 tax at all.
Gas
The higher CO2 price will increase the cost of natural gas by 0.36 cents per kilowatt hour (kWh) to 1.08 cents per kWh. A family with a consumption of 20,000 kWh per year will then pay around 216 euros in CO2 costs per year, which is almost 75 euros more compared to 2023. On the other hand, the price brake on gas will be removed on 1 January, which means that a family with a gas consumption of 20,000 kWh will have additional costs of 107 euros, as VAT will also increase again to 19 percent.
Petrol
The price of petrol will rise by 4.2 cents per liter (gross), bringing the total CO2 surcharge for petrol to around 12.8 cents per liter.
Diesel
Diesel will cost 4.8 cents per liter more than last year, with a total of around 14.3 cents per liter added to the CO2 price.
Electricity
The comparison portal Check24, on the other hand, has been puzzling over the price of electricity. 5.5 billion euros from the economic stabilization fund should cushion the increase in grid usage fees in 2024. On this basis, the transmission system operators (TSOs) have calculated the level of the nationwide transmission grid fees for the coming year - 3.19 cents per kWh. Due to the elimination of the subsidy, the TSOs expect 6.68 cents per kWh for the coming year - i.e. more than twice as much.
As a result, the distribution system operators will also have to recalculate the grid fees for the coming year. Including the subsidy, the grid fees for consumers in 2024 should increase by an average of eleven percent or €46 net (assuming a consumption of 5,000 kWh).
A sample household of four with an electricity consumption of 5000 kWh would then have additional costs of 56 euros. Overall, the grid fees for electricity in 2024 would increase by over 100 euros net for a family. Added to this is the value added tax. This makes a gross increase of around 119 euros.
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- The Federal Government, led by Olaf Scholz, aims to save budget funds for the following year by increasing the CO2 price beyond the originally planned increase of 30 to 45 euros per tonne.
- The rising CO2 price will impact the cost of fuel, heating, and electricity, affecting prices of gasoline, heating oil, natural gas, and petrol.
- As an advisor, you might suggest to consumers to consider using alternative climate-friendly options such as electric cars, heat pumps, or insulation to save money on their increased energy costs.
- The 'traffic light' coalition government is intent on promoting the use of renewable energies, hoping these will eventually replace some of the more expensive fossil fuels like diesel and gasoline.
- As a result of the increased CO2 price, CO2 emissions will likely decrease, as companies will have an incentive to switch to cleaner alternatives to avoid additional costs.
- With the escalating costs of gasoline, diesel, and natural gas, many consumers may be facing financial constraints, potentially impacting the national debt and requiring the Federal Government to adjust its budgetary policy accordingly.
- The German government's decision to raise the CO2 price has implications for various sectors, including transportation and energy, and it's critical for businesses and households to assess and adapt their strategies accordingly.
Source: www.ntv.de
