Berlin expects energy prices to surge ahead of the heating season, according to a new report. Gas prices in the EU’s largest economy, Germany, are likely to soar and remain high until at least 2027, Bloomberg reported on Wednesday, citing the latest report by the Economy Ministry.
According to the report, based on the forward prices at the end of June, wholesale gas prices may surge to around €50 ($54.62) per megawatt-hour ahead of the heating season. They are expected to remain high for the next four years, unless additional emergency measures are taken, the report says