Fixed energy rates: months of price decline comes to an end (but not for all suppliers) | MyGuide

Fixed energy rates: months of price decline comes to an end (but not for all suppliers) | MyGuide
Fixed energy rates: months of price decline comes to an end (but not for all suppliers) | MyGuide
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Mining energyThe energy suppliers announce their new rates at the start of each month. After a long downward spiral, prices will rise by an average of about 4 percent in April. Although the impact on the bill remains limited, the bottom seems to have (perhaps) been reached. Mijnenergie.be analyzes current movements on the energy market.


By Kurt Deman, in collaboration with Mijnenergie

02-04-24, 13:25



Source:
Mijnenergie.be

‘Crisis prices’ are over

Anyone who now concludes a new contract for electricity and natural gas will pay barely more than before the energy crisis. The price drop therefore had to come to an end sooner or later – temporarily or otherwise.

In recent weeks, natural gas prices on the energy exchanges have shown a slightly rising curve. This was partly due to the Russian attacks on storage infrastructure in Ukraine. Electricity prices generally follow natural gas prices. The relatively high CO2 emission prices also stood in the way of a further decline in consumer prices.

Comparing pays off: find the lowest electricity and gas prices in your municipality or city here.

Small price increase

All this translates into some caution on the part of energy suppliers. Some suppliers are still seeing a price drop, albeit to a very limited extent. For most players, prices increase slightly, with peaks of up to +8 percent. This results in an average price increase of the ‘energy costs’ section on the invoice of 3.72 percent for electricity and 4.30 percent for natural gas. In absolute figures, you now pay 18.80 euros more per year for electricity and 39.34 euros more for gas when you take out a fixed-rate contract. A detailed overview of the price increase or decrease per supplier can be found here.

The price increase therefore remains very small, especially when you compare it to the sky-high energy prices of a year and a half ago. At the same time, the April prices confirm the assumption of the federal energy regulator CREG that we may have reached the bottom level.

If you switch to a fixed energy rate: do you choose the same supplier or do you switch to another player?

What do you do best?

Anyone who took out a fixed-rate contract last year will in any case pay an invoice that is too high today compared to current market prices. In that case, you can save up to 800 euros by switching to a fixed rate now or switching to a variable rate.

For those who currently have a variable rate and are considering a fixed rate, it may also be advisable not to postpone that decision for long. Although you still pay a significant additional price for the certainty of a constant rate all year round.

Families who prefer to pay a low entry price and accept the possible volatility on the energy markets should now check whether their current supplier offers the lowest prices. Given the many movements in the energy market, the lowest rate from a year ago may no longer be the cheapest.



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Read more on Mijnenergie.be:

VREG makes electricity rates 80 euros more expensive and gas 20 euros cheaper

A new energy contract every season: do you benefit from that?

Never before have energy suppliers paid so little for your solar panel power

This article was brought to you by our partner Mijnenergie.be.
Mijnenergie.be is an independent energy price comparator of electricity and gas offers.

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The article is in Dutch

Tags: Fixed energy rates months price decline suppliers MyGuide

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