German consumers to face further energy price hikes in 2011 - VCI

29 December 2010 14:42  [Source: ICIS news]

TORONTO (ICIS)--Germany’s consumers will be facing further increases in energy costs in 2011, the country’s chemical industry trade group said on Wednesday.

At the same time, the chemical industry offered households a wide range of products and solutions to help them to drastically reduce their energy consumption, Frankfurt-based VCI said.

The increased energy prices would come after an average 7% increase in consumer end prices for electricity and oil in 2010, and increases of up to 29% in natural gas prices, the group said.

“The long-term trend towards higher energy prices continues,” it said.

VCI said one of the best ways for households to cut their energy consumption - by up to 60% - was through improved insulation.

Some 75% of German homes were “old-timers” that required almost three times as much in heating energy as new buildings, the group said.

VCI general manager Utz Tillman said that Germany’s chemical industry offered a wide range of suitable materials, including polyurethane and polystyrene products, that prevented energy from escaping through windows, roofs and walls.

In addition, chemical firms were working in new sectors such as nano- and solar-technologies that improved overall energy efficiencies, he said.

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By: Stefan Baumgarten
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