Energy company Vattenfall will increase the rates for electricity and gas by more than 50 percent from 1 October. The increase comes three months after the company last increased rates. In a letter to its customers, Vattenfall gives the reason that “purchase prices in the energy market have continued to rise to an exceptionally high level”.
When Vattenfall increased the rates in July, it was a plus of 12 percent on average. At the time, the company indicated that it had purchased energy smartly and that it was able to limit the price increase. The company said at the time that the increase was on average 20 euros per household, although the extra costs differ per type of home. Rates also went up in April, by an average of 11 euros per household.
Normally, energy suppliers adjust their rates twice a year, on January 1 and July 1. Partly due to the Russian invasion of Ukraine and the cut in gas supplies from Russia to Europe, energy prices have risen sharply.
Vattenfall assumes that the average consumption of households is 1,200 cubic meters of gas and 2,250 kWh of electricity. Customers who use this pay a little more than 250 euros per month. The originally Swedish energy company thinks it will adjust the rates again on 1 January and is not yet taking an extra interim step into account.