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Prosperity on the back burner

Whether they are filling up the car or paying their electricity bill the people of Germany are worried about rising energy prices. Industry and business are feeling the effects too. Everyone will have to adapt: the days of cheap energy are gone. A modern energy policy is now needed more than ever.

German power plant

Every day now the news is the same: this month and last month alone some 33 electricity suppliers and 199 gas suppliers raised their prices. According to the Federal Office of Statistics the cost of heating and electricity for private households has increased by about 55 percent since 2002, while petrol has gone up by a similar amount. And the impact is beginning to tell: an insurance company survey found that three quarters of the population were fearful of price rises and declining prosperity.

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Source: IG BCE, www.igbce.de