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Germans turning to wood to heat their homes

There's a run on wood these days in Germany, with suppliers across the country reporting a surge in sales as heating costs soar due to skyrocketing gas and electricity prices.
Germany, in particular, relied on Russian gas. The country got more than half of its imports from Russia in 2021; by this September, it got none.
Germany responded by filling up its gas storage and seeking supply elsewhere, often at a premium.
High prices have forced industry cutbacks and closures and municipalities are cutting back — lower temperatures in swimming pools, street lights turned off.
Households are urged to use less energy, but many will nevertheless face huge jumps in their utility bills, even as the German government tries to offset the price surge for consumers and companies.

In recent years, roughly half of Germany’s homes were heated with natural gas and another 25% used heating oil, while less than 6% used firewood.
But now suppliers of the raw material are struggling to keep up, leading to a scarcity of firewood. Earlier this summer, Germany’s Federal Firewood Association said the market was all out of wood.
Firewood is one backup plan in case Germany runs out of gas in the winter. Already, there are fears that gas will be rationed for industrial use.
EU leaders to meet in Brussels and discuss ways out of energy crisis
Demand is so high that most suppliers stopped taking orders in July for the rest of the year. Some are trying to line up deliveries for next winter even as the price of wood has also doubled but remains well below that of gas or electric heating systems.
KötterlKötterl has owned his one-man business, Brennholz München Palette, for about 10 years, and has never seen anything like this rush for firewood.
He started to see firewood demand tick up during the pandemic, when people were anxious and had to stay at home.
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Then came the war in Ukraine and disruptions to the supply chains, especially from Eastern Europe.
The impending energy crisis has strained supply even more intensely, and dramatically increased prices for the firewood.
People want more of it, and the high costs of energy and other products mean it is more expensive to cut it, dry it, package it, and transport it.
Gerd Müller, of Germany’s Federal Association of Firewood Trade and Production, said the average price increase is about 30 to 40 percent at most dealers, or about 150 euros per bulk cubic meter. According to Germany’s Federal Statistical Office, in August 2022 the price of firewood and wood pellets rose 86 percent.
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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