Economic research from Creditreform warns consumers about the consequences of higher gas prices. Patrik-Ludwig Hantzsch, head of Creditreform’s economic research, told the “Handelsblatt” that rising heating costs will disproportionately affect those who spend a significant portion of their income-such as rent, food, and energy-on living expenses. For these individuals, an increased bill could become the trigger for payment difficulties.
Hantzsch also highlighted broader risks for the economy. He noted that the low fill levels in German gas storage facilities serve as a “warning signal” for trade and service providers. According to him, the increase in heating prices is weakening consumer willingness to spend and “creating further problems for our domestic economy.”
Ramona Pop, the head of the Federal Consumer Centre (VZBV), anticipates increasing strain on households. Speaking to the “Handelsblatt”, she stated that those who heat their homes with gas must prepare for higher costs this winter. The world market prices have risen “noticeably” since the outbreak of the war in Iran, putting added pressure on energy providers. She added that, based on past experience, this burden will eventually reach households.
Pop urged the federal government to specifically alleviate the energy costs for low and middle-income households. Simultaneously, she emphasized the need for Germany to continue reducing its dependence on fossil fuels to become less vulnerable to international price shocks.
