BERLIN, May 4 (NNN-AGENCIES) – Around half of municipalities in Germany have difficulties coping with increased energy prices, according to a survey published by the state-owned promotional bank KfW yesterday.
In Feb, consumer prices for electricity and various fossil fuels were up to 40 percent higher than the average, for the pre-COVID-19-year 2019. Municipalities were also affected by these developments, with regard to costs for heating, electricity or fuel, according to KfW.
“Most municipalities are clearly feeling the effects of higher energy prices, and for many, these even represent a substantial burden,” said Fritzi Koehler-Geib, chief economist at KfW.
Municipalities had to respond to increased energy prices by saving money on other budget items, as well as, by “taking adjustment measures in energy consumption,” KfW found.
Almost 70 percent of the municipalities surveyed said, they were taking measures to increase investment in energy efficiency in order to reduce energy consumption and costs.
The measures focused in particular on the use of renewable energy sources for power supply, according to KfW.– NNN-AGENCIES
