Mining energyThe sharp drop in energy prices is causing an almost unprecedented number of supplier changes, according to data from Mijnenergie.be. More than 15,000 families already switched to a cheaper energy contract via the comparison site this month. Since prices on the energy exchanges have risen in recent weeks, the downward price curve may end after Easter.
By Kurt Deman, in collaboration with Mijnenergie
29-03-24, 10:15
Source:
Mijnenergie.be
More than 160 euros down
In March, fixed electricity prices fell again on average by 12.90 percent compared to February. For natural gas this concerns a price decrease of 11.03 percent. In absolute figures, this means 63.74 euros less electricity costs and 99.85 euros less gas costs for the annual contract of an average family. Anyone who took out a fixed energy contract last year now pays up to 800 euros more than current market prices.
Don’t pay too much anymore: you can find the cheapest energy rate via the Mijnenergie.be comparator.
50 percent more switching
Energy regulator CREG advised families who took out a fixed-rate contract last year to exchange it for a contract at the current, much lower market prices. Families seem to have followed that advice en masse. The number of switches via Mijnenergie.be is now 50 percent higher compared to March 2023. It has been since September 2022 – at the time in the midst of the energy crisis – that so many families switched to another energy contract via this comparator.
If you switch to (the certainty of) a fixed energy rate: do you choose the same supplier or do you switch to another one?
Is the decline coming to an end?
The CREG previously indicated to VRT NWS that we may have gradually reached the price floor. “I now expect a stabilization and then perhaps a slight increase next month. But that will have to wait and see next month, of course,” said Kurt Hernot of the CREG.
Now that the price on the leading TTF natural gas exchange rose from more than 23 euros per megawatt hour to more than 27 euros per megawatt hour (or +18%), a further sharp drop in consumer prices does not appear to be imminent.
Anyone who wants to enjoy the current low energy prices with 100 percent certainty can do so until March 31 at the March rates. On April 1, suppliers will announce their new prices, but it remains to be seen whether they will increase to a limited extent.
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Read more on Mijnenergie.be:
A new energy contract every season: do you benefit from that?
Eight tips for lower energy consumption during spring
Petrol, diesel or electric: what is the cheapest fuel?
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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