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"That's not enough" - Eon boss calls on consumers to save

His business is energy, but he would rather sell less of it: the head of the energy company Eon Leonhard Birnbaum has called on private consumers to make greater efforts to save gas.

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"That's not enough" - Eon boss calls on consumers to save

His business is energy, but he would rather sell less of it: the head of the energy company Eon Leonhard Birnbaum has called on private consumers to make greater efforts to save gas.

"We cannot give the all-clear for winter 23/24," Birnbaum told journalists in Essen on Tuesday evening. According to statistics, the industry has saved around 20 percent in the past few months, but private consumers have only saved around ten percent. "This is too little. We cannot count on another warm winter helping us.”

He has the impression that many people have a false sense of security, the manager said. Gas wholesale prices have fallen. But there can be no all-clear.

"Prices are still at a level that we thought was unthinkable a few years ago." In 2022, wholesale gas prices on the futures market would have averaged EUR 117 per megawatt hour. For a few weeks it has been around 70 euros. On average for the years 2015 to 2019, the average wholesale gas price was around EUR 18.50 per megawatt hour.

The comparatively mild temperatures, the savings and the well-stocked gas storage facilities have caused prices to fall again, which had exploded after the Russian halt to gas supplies. According to the Gas Storage Act, storage facilities in Germany must be 40 percent full by February 1st. According to the Federal Network Agency, on January 31 they were almost 80 percent full.

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