Electricity price cap ends: How to find the right electricity provider for 2024

Electricity price cap ends: How to find the right electricity provider for 2024

The electricity price brake, which has capped the price of electricity for private customers at 40 cents per kilowatt hour since January 2023, will expire at the end of the year. This could mean higher costs, especially for customers of basic suppliers, as the tariffs in many places are still above the 40 cents/kWh of the electricity price brake. According to a monitoring report by the Federal Network Agency, around 60 percent of households in Germany get their electricity from the basic supplier. The basic supplier's prices are often higher than those of other providers, especially after the electricity price brake expires. This could lead to additional costs of around 4 cents per kWh of electricity. This means that households with an electricity consumption of 3,200 kWh per year could pay up to 128 euros more per year. Not only customers of basic suppliers could be affected by higher prices, long-term customers also often pay more than new customers. It is therefore worth checking the current conditions and, if necessary, looking for a cheaper provider. New customer rates are currently around 28 to 30 cents/kWh, meaning potential savings for consumers.
According to a report by utopia.de,