The energy supplier “Rhein-Energie” increased the prices for natural gas by around 133 percent in October. The group announced this on Monday. District heating is also becoming more expensive.

Drastic price increase for all customers of “Rhein-Energie”: The energy supplier announced on Monday that the prices for gas and natural gas will rise massively on October 1st.

In the case of natural gas, the price per kilowatt hour consumed increases by 10.43 cents from 7.87 cents to 18.30 cents per kilowatt hour – gas is then around 133 percent more expensive. In the case of district heating, the price will rise to “around 705 euros/year in 2022, with the expected price adjustment on October 1, 2022 already being included here.”

“In a Cologne apartment with an annual consumption of 10,000 kilowatt hours, the annual costs increase to around 2,002 euros (previously: around 960 euros), which is an increase of around 108 percent,” says the group’s press release. If you have an annual requirement of 15,000 kilowatt hours, you have to reckon with around 2,918 euros (previously: around 1,353 euros), which is almost 116 percent more.

The group is now advising all customers to adjust the monthly deductions. “Tenants who settle their energy costs via the ancillary cost bill should also take precautions against higher additional payments.”

The group cites the increased procurement costs as the reason for the dramatic price increase. On the world market, natural gas has become 450 percent more expensive compared to 2021/2022. Even if the company buys gas in the long term, this cannot be compensated for.