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German Insurers Warn Against “Dangerous Experiments” To Lower Energy Bills

Germany’s insurance industry warned consumers on Monday against “dangerous experiments” to heat amid soaring energy prices.

The insurers are concerned that the risk of fire is rising with the use of candles, too many electric heaters, or makeshift fireplaces.

Considering the fact that energy prices are very high, it is understandable that people are looking at various ways to save on their bills, the German insurance industry trade body, GDV, said today.   

“However, many alternative heating methods are not unsuitable at all for heating living spaces over a longer period of time. They are also dangerous,” Jörg Asmussen, chief executive of GDV, said in a statement.

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Candles are not suitable for space heating, and the greatest risk of fire comes from open fire, the insurance association said.

Moreover, too many electric heaters could also increase the risk of fire, especially in older buildings. Before using powerful electric heaters, consumers should consult electricians about whether it is safe to use them, GDV’s Asmussen says.

The German government is considering a one-off payment for gas bills to German consumers as part of a package to alleviate the energy crisis for households and smaller business consumers.  

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Earlier this month, a panel of experts proposed measures to alleviate the impact of soaring energy prices on consumers, including a one-off payment and subsidizing more than half of the expected gas consumption.

The experts recommended giving households and businesses a one-off payment worth a month of their respective gas bills and subsidizing between 60% and 80% of the expected gas consumption, while consumers will pay the rest at market prices. The one-off payment will be made in December, while the plan for the gas price cap was to be implemented in March or April 2023. The commission will propose measures to blunt the impact of soaring energy prices on large industrial consumers at a later stage. 

Meanwhile, Germany’s energy regulator insists that “significant” gas and energy savings are necessary to avoid a winter of rationing and gas emergency. 

By Tsvetana Paraskova for Oilprice.com

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