The German energy supply has become noticeably cheaper in 2024. Last year, the import bill for coal, oil and gas net of exports amounted to around 69 billion euros, which was around 15% or 12.4 billion euros (bn euros) less than in 2023. Compared to 2022, the costs for the energy import balance even fell by 66 billion euros and have thus roughly halved. Compared to the years before the war in Ukraine, however, the price level for energy imports is still significantly higher. In addition, the import surplus in electricity trade with neighboring countries last year led to costs of around 2 billion euros, writes the Working Group on Energy Balances (AG Energiebilanzen) in its recently published annual report for 2024.
The weather plays a significant role for a large proportion of the energy used outside of the transport and industry sectors, as the majority of energy consumption is used to heat private or commercial premises. The influence of temperature on energy consumption is measured using degree day figures. Put simply, a degree day occurs when the outside temperature falls below a previously defined level. In 2024, the number of degree days fell by 58 compared to the previous year to 2,983. There were fewer degree days and therefore lower energy demand, particularly in the heating-intensive months of January and February and from October to December. According to the AG Energiebilanzen, if the consumption-reducing influence of the mild weather and changes in stock levels are mathematically excluded, total energy consumption would not have fallen by 1.2 %, but would have remained at roughly the same level as the previous year.
