2023-09-02 03:04:05
Since June, consumers have been able to easily fix their energy prices for a longer period of time, and they did so en masse. Still, a majority is still waiting with a permanent contract. The group with a variable rate is much larger than before the energy crisis.
Especially since the beginning of June, people have fixed their energy prices en masse, according to a tour of energy suppliers Eneco, Vattenfall and Essent. Then energy suppliers decided to offer more permanent contracts, also for one and three years.
Since that month, the cancellation penalty for breaking the contract has been adjusted. This made it easier for energy suppliers to offer contracts. Also in July and August, many consumers concluded a permanent contract once more, according to Eneco, Essent and Vattenfall.
In the past year, permanent contracts were hardly available. Energy prices shot up following the start of the Ukraine war. As a result, energy suppliers might no longer fix their prices for long. This also meant that expiring permanent contracts were not extended.
“At our peak in April, 84 percent of customers had a variable contract,” says an Eneco spokesperson. At the beginning of April, this was regarding 70 percent for all energy suppliers, according to the energy monitor of regulator ACM.
Group with variable contract larger than before
In recent months, therefore, more people opted for a permanent contract. Nevertheless, the group with variable rates remains large compared to before the energy crisis, the Eneco spokesperson acknowledges. Can’t give numbers.
This is also evident from the most recent figures in the July ACM monitor. Until the end of 2022, more households had a permanent contract than a variable contract for many years. In July only one third had a permanent contract and two thirds variable prices. Most of Essent and Vattenfall also have a variable contract.
It is striking that such a large group has not yet opted for permanent contracts, even though they have been available for a while. Especially since energy experts and energy suppliers warn regarding the unpredictability of the energy market.
For example, the purchase prices of gas recently suddenly rose due to strikes in Australia. “Markets nowadays react much harder to (possible) changes in supply and demand,” says a Vattenfall spokesperson.
Energy market remains uncertain, but customers are waiting
Essent director Boudewijn den Herder announced lower prices for October in August, but also warned. “Even though prices have been falling for three quarters in a row, it is uncertain how the market will develop this winter,” he said. Essent is already facing higher purchase prices on the gas market.
Is it a concern that many more households have a variable contract? Essent thinks not. “That is up to people themselves. We do not aim for as many permanent contracts as possible, and we are not allowed to do that. While some people are looking for security for the coming winter, others are still looking at it,” says a spokesperson .
Waiting for government energy measures
At Vattenfall they see that waiting customers have a number of reasons for this. “We see that they are waiting for what the purchase prices for gas and electricity will do. The uncertainty surrounding the support measures in 2024 and the expiration of the price ceiling may also play a role,” says a spokesperson.
The question is whether the outgoing cabinet will also provide energy support to some of the households next year.
“It is interesting to see what the government will do,” says the Eneco spokesperson. She thinks that fixing the price can be useful for people with a difficult financial situation. “Then you at least have clarity regarding what you pay for energy.”
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