Hetzner mostly ate up the rising energy prices in germany for the last 3 years and they have big problems with their hardware supply since then. It is hard to get cloud instances in nbg and fsn. So an increase in pricing is very much expected from my side.

German electricity prices have been falling for the last 3 years. They've been below the pre-war levels for a while now.

Hardware prices, especially with the current chaos, and the huge spike in demand they've doubtless seen is more than enough to explain this price hike though.