European industrial electricity buyers will face an additional €13 billion (£11.1 billion) in energy costs over the next five years, an energy broker has warned.
Tight environmental legislation, the closure of a large number of power stations across Europe and fluctuations in power generation feedstock costs will be the main drivers behind the price increases, EnergyQuote JHA said.
The energy and carbon consultancy cautioned that buyers would continue to face “significant cost pressures” as companies battle with the effects of the euro-crisis, rising oil prices, global competition and the cost of environmental legislation.
German power consumers would be the worst affected with wholesale power prices expected to rise by 21.5 per cent between the 2013 to 2018 period, the analysis found.
European #power prices to rise by €13 billion in five years