In February the average annual household bill for electricity and gas fell further reaching a level not seen since December 2021. The figures come from the Flemish electricity generator VREG.
It’s estimated households signing a new electricity contract in February are eying an annual bill of 1,413.68 euros. The annual bill is down 300 euros on the month. The January figure too was several hundred euros lower than in December.
The fall in natural gas prices was even more marked. Households signing a new gas contract in February are looking at an estimated annual bill of 1,942.35 euros. The annual bill is down over 500 euros on the month.
Energy prices reached an unprecedented peak in September of last year with estimates for annual gas bills of 5,954.07 euros and 3,256.60 euros for electricity.
Prices are falling because wholesale prices too have fallen on international markets. Experts point to the mild temperatures we have experienced and ample gas stocks.
The VREG made its estimates on the basis of prices domestic suppliers are charging in February. The price cuts are not only good news for people signing a new contract this month. Everybody with a variable plan will benefit from the downward trend.