diff --git a/CHANGELOG.md b/CHANGELOG.md
index 7abb63990ee..f56f78dc651 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -36,6 +36,7 @@
 - PostgreSQL Scaler: Assign PostgreSQL `userName` to correct attribute ([#2432](https://github.com/kedacore/keda/pull/2432))
 - Kafka Scaler: concurrently query brokers for consumer and producer offsets ([#2405](https://github.com/kedacore/keda/pull/2405))
 - Delete the cache entry when a ScaledObject is deleted ([#2408](https://github.com/kedacore/keda/pull/2408))
+- External Scaler: fix wrong calculation of retry backoff duration ([#2416](https://github.com/kedacore/keda/pull/2416))
 
 ### Breaking Changes
 
diff --git a/pkg/scalers/external_scaler.go b/pkg/scalers/external_scaler.go
index 6a7f8693b41..3e3fe0b871a 100644
--- a/pkg/scalers/external_scaler.go
+++ b/pkg/scalers/external_scaler.go
@@ -236,7 +236,7 @@ func (s *externalPushScaler) Run(ctx context.Context, active chan<- bool) {
 	// timer, to release background resources.
 	retryBackoff := func() *time.Timer {
 		tmr := time.NewTimer(retryDuration)
-		retryDuration *= time.Second * 2
+		retryDuration *= 2
 		if retryDuration > time.Minute*1 {
 			retryDuration = time.Minute * 1
 		}