Key facts
- Grüüün, part of Münch Energie Group, is exiting the German market.
- Stromee, a Berlin-based startup, has also exited the German retail market.
- Germany's gas storage sites are 60% full as of October 15, below the EU average.
- The EU average for gas storage is 74%, the lowest since at least 2011.
Two German startup electricity retailers, Grüüün and Stromee, have announced they are ceasing operations due to soaring wholesale prices and anticipated changes in renewable energy policy. Grüüün, which serves approximately 200,000 residential customers, will discontinue services by October 31, 2026. The company cited Germany's proposed renewable energy policy overhaul, including the Renewable Energy Sources Act (EEG 2027), a focus on gas-fired power generation, and rising grid charges as reasons for its exit. Stromee has also reportedly exited the German retail market, with its customers being taken over by local utility SWK Energie GmbH. These exits are reminiscent of the 2022 energy crisis, exacerbated this year by historically low gas storage levels in Germany.