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Ludwigshafen BASF aerial view in 2017. Credit: Wikipedia.

14^th Dec 2024

Nearly 40% of German Companies Plan Job Cuts in 2025  
According to a survey conducted by the German Economic Institute (IW), approximately 40% of enterprises in Germany intend to reduce their workforce in 2025. Researcher Michael Grömling attributed this primarily to high energy prices.

Electricity Prices in Germany Hit a Record High  
The price of electricity in Germany reached an all-time high on Thursday, with the market cost of one megawatt-hour hitting €936. Even during the chaos of 2022, prices did not soar to such levels. "We are facing a systemic collapse," warned the German Chemical Industry Association in response to the current energy crisis.

For now, the crisis has not fully impacted consumers, as electricity contracts are locked in a year ahead. However, Germans are already paying €400 per megawatt-hour under existing agreements.

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