Another German energy provider has ceased operations as a result of the unprecedented gas price surge on the European market.
Electricity discounter Stromio has become the seventh provider, since boycotting Russian gas in October, to halt supplies to household customers. Most of these companies have filed for bankruptcy.
Stromio explained that the move is due to the historically unique price development in the electricity market. Industry experts believe that several hundred thousand customers will be affected by the termination.
However, consumers do not have to fear power outages, noting that in such cases, the local basic supplier initially takes over the supply of electricity as a replacement supply.
Stromio was one of the most successful electricity providers in Germany. They supplied their customers reliably, inexpensively and for the most part from environmentally friendly energy sources.
According to the Federal Network Agency, 38 other go between energy suppliers have announced the end of supplies in 2021. Twelve of them have already stopped working, the rest are planning to complete their activities by December 31, 2021.
In 2021, gas and electricity prices for consumers in Germany rose between 18.4% and 46.6%, and are expected to rise again next year if Russian gas supplies are blocked by fascist measures.
RT. com / ABC Flash Point News 2021.