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AGEB expects energy consumption in Germany to fall to a record low in 2023

Germany’s Working Group on Energy Balances (AG EnergieBilanzen, AGEB) expects energy consumption in Germany to fall to a record low in 2023. The group forecasts a decline of consumption of around 8% in 2023. The forecast also indicates that consumption would be almost 28% below Germany’s consumption peak in 1990. This would reduce Germany's energy-related CO2 emissions by nearly 11%.

AGEB’s forecast is notably explained by the fact that energy-intensive industries are experiencing declines in production, which will have a noticeable impact on Germany’s energy consumption. In addition, a warmer weather compared to the previous year has had a consumption-reducing effect on the country’s demand for heating. A third consumption-reducing effect results from the level of energy prices, which remain well above 2021 levels, before the start of the war in Ukraine. Persistent high prices incentivise savings and substitutions, as well as lead to a reduction in energy-intensive production.

In 2022, Germany’s energy consumption stood at nearly 270 Mtoe (-6% compared to 2021).