Electricity market price: Only 8.79 cents per kilowatt-hour in June

In June, the average monthly exchange electricity price was only 8.79 ct/kWh, just 2 cents higher than in the previous month of May, when the average price was 6.72 ct/kWh. The reason for the increase was price turbulence on a single day—June 26—due to technical problems on the exchange, during which peak prices of around 2,300 euros/MWh were achieved on the electricity exchange (= 2.30 euros/kWh)

On average 42.22 ct/kWh

Electricity prices on the exchange are wholesale prices. Taxes, duties, network charges, and profit margins of electricity providers are added to them. Therefore, customers at the provider Rabot Charge paid an average final price of 28.91 ct/kWh in June, including all ancillary costs. For comparison: According to the Federal Association of Energy and Water Management (BDEW), German customers currently pay an average of 42.22 ct/kWh, based on a household with an annual consumption of 3,500 kWh. The dynamic electricity tariff of Rabot Charge is thus still significantly cheaper than most fixed tariffs—despite price turbulence on the EPEX spot market. Furthermore, it should be noted that price highs on the exchange also affect fixed-price electricity tariffs, as price turbulence is included in the price calculation and passed on to consumers in the form of risk premiums.

Expensive Morning Rate

An average three-person household in Germany consumes approximately 9.6 kWh daily. According to the standard load profile of the energy association BDEW, 1.152 kWh (factor 0.12) of this is used during the morning hour between 6 and 7 am, during which the kilowatt hour cost around 2.30 euros. The additional expenses during this hour, with dynamic tariffs compared to the usual average electricity price (according to BDEW, 42.22 ct/kWh), were about 2.16 euros. However, these additional expenses during the specified hour are more than offset by regular price drops on the exchange over the course of the month, so that consumers still benefit from dynamic electricity prices in the end.

“The exchange includes price highs and lows. Those who consume electricity intelligently can use this price volatility to save on electricity costs. The recent price spikes on the exchange should not be used to stoke fears among consumers. Our customers will not receive significantly higher electricity bills in June compared to May. The difference is likely to be a maximum of four euros,” explains Rabot-Charge CEO Jan Rabe, warning against scaremongering.