Reuters reported a sharp rise in electricity prices in Germany

In Germany, basic electricity tariffs have increased sharply, which was facilitated by a projected drop in wind energy production. This was reported by the Reuters news agency on May 27.

"In Germany, electricity prices in the basic mode have increased sharply," the publication says.

According to the publication, such a situation in the country's energy market may lead to "increased dependence on other, more expensive energy sources."

According to the London—based LSEG exchange, wind energy production in Germany is expected to decrease by 9.7 gigawatts (GW) compared to the previous day to 4.4 GW, and the residual load, including non-renewable energy sources, will increase by 8.2 GW to 23.5 GW.

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The head of the German Council for Constitution and Sovereignty, Ralf Niemeyer, noted on May 16 that the oil reserves that were transferred to Germany via the Druzhba oil pipeline would run out by about the end of May, after which a shortage of this energy resource would begin.

Later, on May 17, he added that the German leadership could not cope with fuel shortages and rising prices due to the conflict in the Persian Gulf. According to him, the lack of fuel is manifested in various areas. There has been a steady increase in the cost of gasoline at German gas stations, and the country's aviation industry is facing a shortage of kerosene.