Changes in 2024: Financial expert explains what consumers can expect

Changes in 2024: Financial expert explains what consumers can expect

According to a report by www.presseportal.de,

The year 2024 brings a variety of changes for consumers. Among other things, changes in the areas of energy, health and care, the environment, finance and consumer law come into force. The new Heating Act (GEG) brings long transition periods for existing gas and oil heating systems as well as making it easier to install solar systems. In addition, digital platforms are becoming more transparent, e-prescriptions are becoming binding, care rates are rising slightly and insurance is becoming more expensive. NRW is also introducing a greening requirement for residential buildings.

In terms of energy, rising CO2 prices lead to a possible move away from oil and gas, as the CO2 price rises from 30 to 40 euros per ton. Electricity network fees in North Rhine-Westphalia are also rising significantly. In the area of ​​health and care, parents are more likely to receive child sickness benefit, and care rates will be increased by 5 percent. With regard to the environment, homeowners in North Rhine-Westphalia will have to design their gardens to be water-permeable from 2024 and can consider greening the roof or facade of new buildings or renovations.

The article also reports that in the future unpackaged meat will have an origin label and the deposit requirement for certain dairy products will be expanded. Contributions for building and vehicle insurance as well as contributions for private health insurance are expected to increase.

The EU is also strengthening consumer rights by introducing new rules for major online platforms and making it easier to enforce consumer rights.

All of these changes are expected to have an impact on the market and consumers. The increased costs of insurance and energy could increase the financial burden on consumers. On the other hand, stronger consumer rights may provide consumers with better protection. So these changes bring both challenges and opportunities.