The prices for electricity and gas are falling – this is also reflected in tariffs for new customers. An overview of what you need to consider when switching.
Munich – Prices for electricity and gas continue to fall. The price of European natural gas fell below 24 euros per megawatt hour for the first time in two years. On the Amsterdam Stock Exchange, the price was 30.23 euros on Tuesday (50 May). The last time natural gas was this cheap was in June 2021. According to the comparison portal Verivox, a kilowatt hour of electricity currently costs 30.3 cents for new customers (as of May 30).
That should be good news, especially for customers, right? Not quite, because according to the consumer advice center, existing customers continue to pay high prices for electricity and gas. Only new customer tariffs are significantly cheaper. A change of provider could therefore be worthwhile under certain circumstances. Here's what you need to keep in mind.
Electricity and gas prices are falling: What you should pay attention to when switching providers
Energy prices have been on a downward trend since December 2022. Commodities have become cheaper after rising dramatically last year with the start of the Ukraine war. In order to ease the burden on consumers, the state has introduced price brakes. The price cap is 40 cents per kilowatt hour for electricity and 12 cents for gas. If customers pay higher prices, the state will cover the additional costs for 80 percent of the forecast annual consumption.
So if you are looking for a new tariff, you should compare different offers via comparison portals on the Internet, according to the consumer advice center. It should be noted, however, that preset filters, which include premiums and bonuses, for example, could make the comparison more difficult. Therefore, the consumer advocates recommend the following filter options:
- Do not include the bonus in order to better estimate annual costs
- Do not only display tariffs that can be switched to directly via the portal
- Disable the "high customer recommendation rate" preset
- Display one tariff per provider
Electricity and gas prices: Consumer advice centre recommends a term of one year
If you have discovered an acceptable offer, the consumer advice center recommends a contract period of one year in conjunction with a price guarantee. However, this does not cover all price components such as network charges, taxes, levies or levies. If the costs for this change, providers can charge more money – the guarantee then does not apply. In such cases, however, customers have a special right of termination. It is also advisable to compare prices and conditions stated on the websites of the providers before concluding the contract.
Although electricity and gas prices are falling, little has changed in terms of prices for existing customers. New customer tariffs are currently significantly cheaper. © Jochen Tack/imago
Tariffs with a bonus should only be considered if you want to switch again after a year. Because: The second year of the contract is usually much more expensive in these tariffs. Providers also try to win customers with bonuses, for example with a new smartphone or bicycle. However, according to the consumer advice center, the basic price is also significantly more expensive here. Consumers should also pay attention to the number of monthly deductions. Twelve payments are often required, but some providers only take eleven. As a result, the discounts are often slightly higher.
Prices for electricity and gas remain at a high price level
Although the situation on the energy market has calmed down at the moment, gas prices are still twice as high as before the energy crisis, according to the consumer advice centre, and electricity prices are still around 20 percent more expensive. The record prices of the energy crisis are over, but overall "the price level remains high," according to a Verivox analysis. Numerous tariffs would still be above the price brakes in the basic service. Experts have already warned of gas prices exploding again. Most recently, the Bundeskartellamt targeted gas suppliers and investigates fraud. (kas)
