According to consumer advocates, there is no general answer as to when the lower wholesale prices for electricity and gas will reach households. “Many providers have just increased their prices and are thus passing on the high procurement costs of the past year,” said energy expert Christina Wallraf from the NRW consumer advice center on Tuesday.
In the case of existing tariffs and basic services, there is often no sign of the lower exchange prices. “With new customer tariffs, on the other hand, you can already feel the low prices in some cases.” Energy providers, who passed on high procurement costs to their customers early on in 2022, are expected to lower prices in the coming months. “Provided that stock market prices don’t rise again.”
Wholesale prices have fallen significantly in recent weeks. For example, the average exchange electricity price in mid-December was at times 450 euros per megawatt hour. On Tuesday it was around 150 euros. In the case of natural gas, gas to be delivered in February cost around 136 euros per megawatt hour in mid-December, on Monday the price was 55 euros.
To find again financially acceptable tariffs
Wallraf advised consumers to switch energy providers if a recent price increase exceeds the price level of other tariffs – “even if 80 percent of consumption is covered by the price brake”. Consumers could find financially acceptable tariffs again on comparison portals. “It wasn’t like that for a long time.”
According to the comparison portal Check24 on Monday, the tariffs of the alternative providers in January are now cheaper on average than the basic supply. Consumers could currently save significantly on electricity bills, it said. The comparison portal Verivox even spoke of a “slump” in new customer prices last Friday. “At the same time, the prices for basic services are rising sharply and are now, on average, the most expensive on the market,” Verivox had reported.
