How millions of “cheap” electric heaters destroyed Germany’s power grid

Maybe they don’t have any more firewood to buy. A few weeks later, we reported that Google searches for “firewood” had skyrocketed in Germany in what must have been a very cold winter…
… Russia is now in another crisis after the country’s energy system will be paralyzed for the foreseeable future following its decision to cut natural gas supplies through the Nord Stream 1 gas pipeline. To avoid gas shortages this winter, Germans may overload the grid by switching to inefficient electric heaters, the utility warned in an article published Sunday, Reuters reported.
German households, fearing the worst, are hoarding electric heaters, including portable ones, amid fears that Russia could cut or further restrict gas supplies after the war in Ukraine, according to sales data.
BDEW, managing director of the German Energy and Water Industry Association, told the daily newspaper Handelsblatt that consumers could pay higher electricity bills if they weren’t careful with their equipment.
Kerstin Andrea, director of BDEW, said: “They can overload the network, for example, when many households turn on fan heaters in one part of the city at the same time on a cold winter night.” fears about cold in homes cause fear, but some coping mechanisms can backfire.
Germany and other EU countries are scrambling to support households and industries hit by a further surge in energy prices after Russia cut off supplies via the Nord Stream 1 gas pipeline. Alas, no matter what Europe does, it can’t print gas or goods, which is why Tellurian chairman Charif Souki told Bloomberg Television that European buyers will end up paying between $120 and $150 a barrel for energy, regardless of the source.
There will be a shortage of gas in Europe this winter and the next few winters, Souki added: “In the short term it will be obscene, but I think that if everyone does the right thing, then over time you will find that all energy prices will go down. align. ”
Pointing to the obvious, Souki said high prices could lead to lower demand: “We have a general energy shortage,” he said. “So, at some point, you will find that oil, coal, gas and renewables will stabilize at a certain level, and I suspect that all these goods will cost between $120 and $150 a barrel.”
For obvious reasons, it is not said that “demanding extermination” means that thousands of people will freeze to death.
True, the German government has promised that in the event of a shortage, industrial consumers will be rationed first and private households will not be reduced, but it remains to be seen how those with political influence and money will go out of business worth millions. German pensioners are given benefits.
According to an interview with the German newspaper Daily Mirror on Saturday, the president of the German Federal Grid Agency also said that the local power outage could be caused by the peak use of heaters.
Klaus Müller added that even with “very high” natural gas prices, electric heaters still cost more to users than gas central heating, the country’s most common form of residential heating.
Germans bought 600,000 electric heaters in the first half of this year, almost 35% more than last year, according to research firm GfK. The final figure could be in the millions after turmoil in German energy markets in recent months.
The materials provided on this website are for informational and educational purposes only and are not intended to provide tax, legal or investment advice.
Nothing on the website should be construed as a recommendation, solicitation or offer to buy or sell securities to anyone in any jurisdiction.
Trading and investing comes with a high risk of losing money quickly due to leverage. Individuals should consider whether they can afford the risks associated with trading.
74-89% of retail investor accounts lose money. Any transactions and order executions mentioned on this website are handled by OPCMarkets.


Post time: Sep-28-2022