Mega to offer fixed-rate energy contract again

Mega to offer fixed-rate energy contract again
Credit: Belga

After Luminus, energy provider Mega will now also offer a fixed-price energy contract from March – but only for customers who currently are already connected to the supplier.

Since the start of 2023, major energy supplier Luminus reintroduced fixed-rate energy contracts for its customers. Mega will soon do the same. "Due to the unstable prices" all other suppliers are sticking to variable contracts for now.

"In the first phase, we offer 10,000 existing customers the opportunity to convert their variable contract to a contract with fixed prices. We are curious about the interest for this," Mega's spokesperson told Het Nieuwsblad.

The fixed-rate contract will be about 10% more expensive than a variable one, but "the advantage for the consumer with such a fixed contract is that they are sure of the price, in case energy prices rise again later this year". Those with variable contracts will be subject to price fluctuations, either positive or negative.

Related News

Mega will initially only offer a fixed rate to 10,000 of its own customers on account of the unstable energy prices of the past few months. All energy suppliers are currently reluctant to offer permanent contracts on account of this.

The limited number of permanent contracts available will allow Mega – which has a market share of about 5% – a means of protection against a possible scenario in which the prices on the wholesale markets jump up again.

Anyone who is not yet a Mega customer but is interested in such a fixed-rate contract can still switch to a variable contract with Mega. "After all, it cannot be ruled out that later this year we will give even more Mega customers the opportunity to switch to a fixed-rate contract."

Copyright © 2024 The Brussels Times. All Rights Reserved.