Rising electricity costs are putting a strain on households in Germany, and there is no relief in sight in 2024. In this guide, you will find out the current electricity price for September 2024. We will also show you where prices are heading and how you can save on electricity costs.
How much will a kilowatt hour of electricity cost in 2024?
One kilowatt hour of electricity will cost 28 cents for new customers in September 2024. The price refers to a new contract and an electricity consumption of 4,000 kWh. Existing customers currently pay an average price of 41.35 cents per kilowatt hour in the basic supply tariff.
electricity costs by household size
With an electricity price of 28 cents per kWh, the electricity costs for the average household in a single-family home are between €672 and €1,400 per year. If you add electric water heating, the costs rise to €756 to €1,764. Here, water heating with photovoltaics is particularly suitable for reducing electricity costs.
| household size | annual electricity consumption | electricity costs | electricity consumption with electric water heating | electricity costs |
| 1 person | 2,400 kWh | 672 € | 2,700 kWh | 756 € |
| 2 people | 3,000 kWh | 840 € | 3,500 kWh | 980 € |
| 3 people | 3,600 kWh | 1.008 € | 4,500 kWh | 1.260 € |
| 4 people | 4,000 kWh | 1.120 € | 5,100 kWh | 1.428 € |
| 5 people | 5,000 kWh | 1.400 € | 6,300 kWh | 1.764 € |
Electricity price development until 2024 in Germany
Electricity prices for new customers will be around 2 cents higher in September 2024 than in August 2024. However, compared to prices exactly one year ago, costs have fallen by 71%. Prices are now back at the same level as in September 2021.
Forecast: How will electricity costs develop in 2024?
By the end of the year (2024), electricity costs will rise by around €60 per 1,000 kilowatt hours of electricity. This trend always persists towards winter. Contrary to initial statements by the federal government, electricity costs did not fall in 2024, but remained stable at 25 to 28 cents per kWh. The government's goal was to relieve consumers of the higher grid expansion costs. Ultimately, however, the transmission system operators will increase the grid fees.
How are electricity prices calculated?
In 2024, the electricity price will consist of taxes, network charges, metering costs, and procurement and distribution costs. The following graphic shows the distribution of these components for an average household in Germany.
How can I save on electricity costs in 2024?
There are several options you can use to save on electricity costs in 2024.
Compare prices, change electricity provider
You can reduce electricity costs by changing your electricity provider. The price differences between providers are sometimes enormous. Consumption is an important factor. For example, the price per kilowatt hour in 2023 was between 45.20 cents (for consumption of less than 1,000 kWh per year) and 32.70 cents (for consumption between 2,500-5,000 kWh per year). The basic price also varies from year to year.
reduce electricity consumption
In every home there are appliances that consume a significant amount of electricity. These include heating, refrigerators, ovens, washing machines, dryers and dishwashers, which account for the largest share of electricity consumption. You can reduce electricity consumption by replacing such appliances with more efficient and energy-saving ones.
However, replacing the device is not always possible. However, there are other ways to reduce power consumption.
Place household appliances correctly
Place appliances such as refrigerators, washing machines and dryers in a cool, shaded place. Leave enough space between appliances and other furniture and the wall. This prevents heat build-up and saves energy. Reduce the screen brightness of your TV if it is in the shade.
Use power saving mode
Most devices today have an eco or energy saving mode. Use it whenever possible. Also use the auto standby function on TVs if available. This switches the TV off automatically when it is not in use.
Use multiple sockets
Power strips with a built-in toggle switch are practical for simply turning off all devices. Even in standby mode, they consume unnecessary power. Chargers that are not connected to a device also constantly consume energy. They should not be switched on when they are not in use.
Reducing electricity consumption is one way to reduce electricity costs. In addition, a PV system is an excellent option for reducing electricity costs, especially if you have a high level of self-consumption.
PV system
With a well-planned photovoltaic system, the investment costs are amortized over the course of 10 to 15 years. The lifespan of a PV system is around 30 to 40 years. This means that after the PV system has paid for itself in 10 or 15 years, it will continue to produce cheap electricity for another 20 to 30 years.
