Large price differences among energy suppliers: Financial expert analyzes market analysis by the NRW Consumer Center 2024

Large price differences among energy suppliers: Financial expert analyzes market analysis by the NRW Consumer Center 2024

The market analysis by the North Rhine-Westphalia Consumer Center shows large price differences among energy suppliers in North Rhine-Westphalia at the beginning of 2024. Although around 40 percent of the providers have reduced prices, the prices of basic supply tariffs in North Rhine-Westphalia still remain too high. The price range between the basic supply tariffs for gas is up to 300 percent. If you compare special tariffs for electricity and gas, you can save a lot of money by switching energy suppliers.

The consequences of the energy crisis have led to high electricity and gas costs, which have led many consumers to switch to basic services. The abolition of the electricity and gas price brake on December 31, 2023 has meant that consumers will have to bear the full amount of energy costs again. The North Rhine-Westphalia consumer advice center examined the current basic supply tariffs of North Rhine-Westphalia providers for electricity and gas and found that the price level is significantly higher than expected despite planned price reductions.

For gas, the labor prices range between 9.00 cents/kWh and 26.54 cents/kWh plus the basic price, while the range for electricity is between 29.81 cents and 55.93 cents/kWh plus the basic price. These large price differences raise questions, especially in view of falling stock market prices in 2023, according to Wolfgang Schuldzinski, board member of the NRW consumer advice center.

An example household with a gas consumption of 20,000 kilowatt hours will receive an annual bill of at least 1,942 euros to a maximum of 5,475 euros, depending on the basic supplier. In many municipalities, basic services are the most expensive tariff on the market. Consumers who receive basic services should check their tariff, as it is often worth changing.

At an average of 11.32 cents/kWh, the special gas tariffs of the basic suppliers are around 2 cents/kWh cheaper than the average basic gas tariffs, but here too there are large price differences. By switching out of basic care, a family can save around 850 euros per year.

When it comes to electricity, the annual costs for electricity from the basic supply vary between 1,060 euros and a maximum of 1,856 euros with an annual consumption of 3,000 kWh. Switching to the basic provider's special tariff can save an average of around 160 euros per year. Alternative providers currently offer electricity from around 30 to 32 cents per kilowatt hour, which can save a family an average of almost 300 euros.

Consumers should check individually whether their basic supplier has a favorable special tariff for gas or electricity or whether it would be advisable to switch to an alternative provider. An internet research about the company should be carried out before signing a contract to avoid negative business practices.

Source:According to a report by www.haustechnikdialog.de