Prices still high: Energy prices for basic suppliers are falling

Prices still high
Energy prices for basic suppliers are falling

Natural gas and electricity are still expensive. Most tariffs are above the price brakes, which should at least relieve households somewhat during the energy crisis. According to one report, however, the record prices are a thing of the past.

According to a report, the falling prices on the energy exchanges are now also affecting electricity and gas customers from local basic suppliers. As the “Süddeutsche Zeitung” reports, citing figures from the comparison portal Verivox, a total of 91 electricity and 80 gas companies reduced their tariffs in May, June and July. Electricity will be around 14 percent cheaper on average, and gas around 23 percent. In Germany, however, there are hundreds of basic suppliers. The default supplier is the energy supplier that supplies most households with electricity and/or gas in a grid area.

According to the newspaper, the record prices of the energy crisis are over. Overall, however, “the price level remains high”. According to Verivox, almost 80 percent of all electricity and almost 90 percent of all gas tariffs in the basic supply are above the price brakes.

The price brakes were introduced because of the massive rise in prices for energy products – they have been in effect since March and retrospectively for January and February. The price cap for electricity is 40 cents per kilowatt hour and for gas it is 12 cents per kilowatt hour. If customers pay higher prices, the state covers the additional costs.

According to the information, the prices of national suppliers are often well below the price brakes. Verivox energy expert Thorsten Storck told the newspaper that “by switching from the basic supply, a household can save on average more than 500 euros in electricity and more than 600 euros in gas”.

According to the newspaper, consumer advocates warn against only looking at the cheapest providers. Especially with so-called energy discounters, there were always problems during the energy crisis, said Hans Weinreuter, energy expert at the consumer center Rhineland-Palatinate, the “Süddeutsche Zeitung”. The consumer advice center can give consumers information about “which companies have become conspicuous in the past”.

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