Energy contract prices continue to diverge

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Energy suppliers are not expecting new customers at all at the moment, and it shows. They don’t advertise and there’s hardly anything to choose from on the comparison sites. It is still possible to compare, and it is striking that the price differences with new contracts increase, says founder Ben Woldring of gaslicht.com in a conversation with NU.nl.

“The price differences we’re seeing right now are unprecedented,” Woldring said. “The differences are up to 40 percent.” According to the market expert, when companies bought their gas and electricity determines the price they can offer.

The prices of a so-called standard contract, which all suppliers must offer, vary from around 4,000 euros to more than 7,000 euros per year when used equally. “These 4,000 euros were still 2,000 euros a year ago,” notes Woldring.

The price of European gas was at its peak – in early March, after the announcement of sanctions against Russia – at 210 euros per megawatt hour. It has now been hovering around 100 euros for some time.

Difficult to switch

Many consumers have contracts where the price is fixed for a long period. “But they will expire at some point.” And then it is always difficult to switch. Although all providers are compared on the comparison site Woldring, you can only really conclude something with two companies.

“In March, there were none,” says Woldring. “Last month it was one and now it’s two.” If trading prices stay the same, he expects vendors to signal again.

For standard contracts that each provider has to offer, but which are often difficult to find, providers may adjust rates on a monthly basis. “Consumers can also cancel them monthly.”

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