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ENERGY

Saarbrücken has Germany’s priciest petrol

Consumers are paying very different prices for petrol, heating oil and natural gas in Germany depending on what region they live in, according to a comparison released on Tuesday by consumer magazines Guter Rat and Das Haus.

Saarbrücken has Germany's priciest petrol
See America, you don't have it so bad! Photo: DPA

Saarbrücken, in the German state of Saarland, is the country’s most expensive city to tank up – drivers there pay €1.514 per litre ($8.48 per gallon) of petrol. Mühlheim has the country’s most affordable gasoline at €1.419 per litre ($7.94 per gallon). Meanwhile the average lies at €1.477 per litre ($8.26 per gallon) of petrol.

Heating oil is most expensive in the Bavarian capital of Munich at €0.87 per litre, and most affordable in Hamburg. Dresden residents can console themselves with the fact that their heating costs are at the national average, €0.85 per kilowatt hour.

Saarlouis in Saarland leads the pack for natural gas prices with a stunning €0.832 per kilowatt hour, though the average is just €0.662.

Domestic gas and electricity costs are likely to continue rising in Germany over the long term, head of energy giant RWE, Jürgen Großmann, said in early September. Heating and electricity costs are gobbling up an ever-larger share of German household spending, jumping 21 percent in the last year alone, the German Federal Statistics Office reported in August.

BUSINESS

France’s EDF hails €10billion profit, despite huge UK nuclear charge

French energy giant EDF has unveiled net profit of €10billion and cut its massive debt by increasing nuclear production after problems forced some plants offline.

France's EDF hails €10billion profit, despite huge UK nuclear charge

EDF hailed an “exceptional” year after its loss of €17.9billion in 2022.

Sales slipped 2.6 percent to €139.7billion , but the group managed to slice debt by €10billion euros to €54.4billion.

EDF said however that it had booked a €12.9 billion depreciation linked to difficulties at its Hinkley Point nuclear plant in Britain.

The charge includes €11.2 billion for Hinkley Point assets and €1.7billion at its British subsidiary, EDF Energy, the group explained.

EDF announced last month a fresh delay and additional costs for the giant project hit by repeated cost overruns.

“The year was marked by many events, in particular by the recovery of production and the company’s mobilisation around production recovery,” CEO Luc Remont told reporters.

EDF put its strong showing down to a strong operational performance, notably a significant increase in nuclear generation in France at a time of historically high prices.

That followed a drop in nuclear output in France in 2022. The group had to deal with stress corrosion problems at some reactors while also facing government orders to limit price rises.

The French reactors last year produced around 320.4 TWh, in the upper range of expectations.

Nuclear production had slid back in 2022 to 279 TWh, its lowest level in three decades, because of the corrosion problems and maintenance changes after
the Covid-19 pandemic.

Hinkley Point C is one of a small number of European Pressurised Reactors (EPRs) worldwide, an EDF-led design that has been plagued by cost overruns
running into billions of euros and years of construction delays.

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