Record gap between most and least expensive energy contracts

Record gap between most and least expensive energy contracts
This photo illustration shows blue flames from a gas at a home in Arlington, Virginia on May 3, 2023. New York has become the first US state to pass a law banning gas stoves and other fossil fuels in most new buildings, in a victory for environmental activists. The legislation adopted by lawmakers in the Democratic-run state legislature late May 2 will require newly built homes to be all-electric in three years' time. OLIVIER DOULIERY / AFP

The price difference between energy contracts in Belgium has reached a record high in over a year, according to data from the federal energy regulator, Creg.

A family with average energy consumption and an expensive energy contract could pay up to €1,328 more per year for electricity and natural gas compared to the cheapest available tariff.

This figure is the highest recorded since November 2022, during the height of the energy crisis.

Energy prices, especially for natural gas, have fallen since then, making older energy contracts significantly more expensive than newer ones.

Creg strongly advises consumers to assess their current energy contracts using its online tool, Creg-scan, and consider switching to a different contract or provider.

Around three-quarters of Belgian households currently use variable contracts that align with market prices.

Creg notes that newer variable contracts are often more cost-effective.

Despite this, some consumers prefer the stability of fixed contracts, which tend to be pricier.

Creg stresses that both types of contracts should remain available, empowering households to make informed decisions.

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