The CEO of the Essen-based energy group RWE, Markus Krebber, expects gas and electricity prices to remain high for years after Russia attacked Ukraine. “It will probably take three to five years,” said the manager of the “Süddeutsche Zeitung” on Monday about the energy bottlenecks in Germany. “Because it takes time before new capacities are created and other countries can supply additional energy.” Krebber welcomed the plans of Federal Minister of Economics Robert Habeck (Greens) to start up coal-fired power plants again in order to save natural gas. “Everywhere where you can switch to other energy sources, this should happen.”

The throttling of gas supplies from Russia is already having an effect. “We also get significantly less than the agreed amounts,” says the RWE boss. The group, which operates gas and coal-fired power plants in Germany, Great Britain and the Netherlands, must now “buy the fuel at significantly higher and further increasing prices”.