A PUE of 1.00 means all of your electricity is used for compute and none for cooling (and other things). "as much electricity for cooling as you spend of compute" would be a PUE of 2. It's "total / compute". And PUE of 2 would be quite bad, most facilities are better than 2.

Thanks. Looks like I misremembered the formula. We run way lower than 2. I have seen some systems running with 1.0x values (I don't remember the exact value).

However, this doesn't mean that the increase in energy costs are not affecting Hetzner.