Germany’s largest energy concern suspends signing of new gas contracts

The largest energy company in Germany – E.ON – refused to conclude new contracts with end consumers for the supply of gas due to high prices for this energy carrier, Report quotes the statement of the German company.

“Unfortunately, we are currently unable to provide you with proposals for natural gas,” the E.ON website reads. At the same time, it is noted that deliveries under previously signed contracts continue.

Many European energy companies and producers of energy-intensive industries cannot withstand the current situation in the gas market and are forced to reduce or completely suspend their activities, as high gas prices have made their operations unprofitable.

We should note that this year, natural gas prices have increased by more than 300% – to the highest level since 2014. Currently, this energy carrier is traded in the markets of Europe and Asia at USD150-200 per barrel in oil equivalent.