Erik von Scholz, CEO of Enovos, discussed anticipated changes in electricity prices during an interview with our colleagues from RTL Radio on Monday morning.

The energy price cap is set to expire at the end of the year. The government plans to implement only a partial cap on electricity prices, which means the state will cover half of the expected price increase for households. According to the National Institute of Statistics and Economic Studies (STATEC), electricity prices are projected to rise by 60% in 2025. With the new cap, household electricity bills are expected to increase by 30%. Erik von Scholz deemed these forecasts "very plausible."

This year, without the price cap, a household consuming an average of 4,000 kilowatt hours would have paid approximately €1,435 for electricity. With the current cap, they pay just €855. Von Scholz confirmed that the announced increase will indeed occur next year. In light of this, he recommended that clients explore energy efficiency measures and public support for photovoltaics. He also reminded them of the financial assistance available for low-income households. Enovos also offers advice and support to its clients.

Von Scholz reiterated that Enovos purchases electricity one or two years in advance. While current prices are lower than they were following the Russian invasion of Ukraine, they remain higher than pre-crisis levels. According to von Scholz, this long-term purchasing strategy has paid off. Unlike other operators who bought on a shorter-term basis and struggled to supply their clients during the crisis, Enovos has managed to "smooth out the price rises." Of course, these price increases are now being "deferred."

Von Scholz also noted that gas prices will remain unchanged despite the end of government measures. He emphasised that, as with electricity, prices depend on geopolitical factors and weather conditions.

"Enovos doesn't benefit from price rises"

Enovos, primarily owned directly or indirectly by the Luxembourg state, has made a net profit of over €26 million in the past two years. Von Scholz emphasised that Enovos does not profit from rising prices. Both prices and public subsidies are passed on to consumers in the same way. Additionally, he noted that the company is making significant investments in solar energy.

EU could still afford to buy electricity "thanks to solidarity"

The war in Ukraine has underscored the importance of investing in renewable energies to reduce dependence on fossil fuels, according to von Scholz. "More Europe means a better energy supply for Europe," the Enovos CEO stated, cautioning against "idealism and populism."