Electricity and gas prices 2024: Expert advice for consumers - check changing providers

Electricity and gas prices 2024: Expert advice for consumers - check changing providers

According to a report by www.welt.de, the consumer advice centers advise electricity and gas customers to consider changing providers in 2024 due to expected additional costs. The reasons for this are, among other things, expiring price controls and increased network fees in the electricity sector as well as increasing CO2 taxes and the abolition of the VAT reduction in the gas sector.

The experts recommend checking the current tariffs on a tariff portal in order to compare different providers and the possible savings when switching. If you are satisfied with your current provider, you could also look for cheaper tariffs there and switch if necessary.

It is expected that many providers will implement price reductions at the turn of the year in order to compensate for the now lower wholesale prices for electricity and gas. The consumer advice center also recommends choosing a term of 12 months for new contracts, as this represents a good average between planning security and flexibility. In addition, it is recommended to pay attention to the conditions of bonus tariffs and to ensure that you do not end up with a dubious provider.

Rising costs and possible price reductions by providers could have a significant impact on the energy market. Consumers are encouraged to review their contracts and switch if necessary to achieve financial savings. The possible price reductions by suppliers could lead to increased competitiveness in the market and offer consumers greater choice and transparency. It is important that consumers are informed about their switching options and can benefit from them.