The Iran war and its ripple effects are now influencing households in Germany that are looking to sign a new electricity contract. According to an analysis by the comparison portal Verivox, which the “Spiegel” cites, tariffs for new customers have risen by roughly 15 % since the conflict began.
The cheapest offers now hover just below 28 cents per kilowatt‑hour (kWh); in February, the national average for the same tier was about 24 cents per kWh. Even with this increase, prices remain well below the record highs seen in the crisis year of 2022.
The most recent hike can be traced back to the sharp rise in wholesale natural‑gas prices. Gas‑powered plants are essential for stabilising the German electricity grid, especially during periods of low wind and solar output. In the market, the price is set by the most expensive plant that is still needed to meet demand at any given moment.
Energy suppliers lock in electricity for their customers months in advance on the futures market. Verivox reports that forward deliveries for April have been about 24 % more expensive since the start of the Iran war. Thorsten Storck, an energy expert at Verivox, notes that such price jumps hit new‑customer offers first because these contracts are calculated on a more short‑term basis. If world‑market prices stay at the current high level, Storck warns that even existing customers in Germany are likely to see price increases.
