In Germany, the cost of buying natural gas increased by 450% a year, which could lead to a 133% increase in gas prices in early October, German energy company Rhein Energy said. The company’s press release states: “From October 1, Rhein Energy will significantly increase natural gas prices, and the reason for this is an approximately 450 percent increase in purchase costs between 2021/22 and 2022/23.”

The statement said that growth is expected at the level of 133%, since the price of a kilowatt-hour of natural gas will be 18.30 cents instead of the previous price of 7.87 cents. For the average family, annual electricity costs will rise from €960 to €2,002 ($980 to $2,045).

He added: “Rise in prices will also affect heat supply. If in 2021 the average annual cost of central heating was about 407 euros for an average apartment in Cologne, now in 2022 it will rise to about 705 euros per year, which is equivalent to an increase of about 73%.