Fewer households changing their energy supplier even though they could save as much as 1,100 euro by doing so

This is despite households being able to save as much as 1,100 euro per annum if they change to a different energy supply company. VREG calls on households in Flanders to check their electricity and gas supply contracts at least once a year. They can compare supply contracts by doing the V-test, an online tool to find the best value supplier for their energy needs.

VREG’s previous figures showed that since the liberalisation of the energy market the average Flemish household had changed energy supplier 3.6 times. However, with the figures from the latest survey of 1,000 this has fallen to 3.4 times. 

The figures from the survey confirm raw data that VREG receives from the energy supply companies. Fewer Flemish households are changing supplier. This is the gas both for electricty and gas. The lastest figures buck the trend as during the previous 8 years there had been a constant increase in the number of households changing their energy supplier.

VREG’s Barbara Janssens told VRT News that no clear explanation can be deduced from the figures.

"It may be the case that after the energy crisis we just didn’t feel like comparing energy contracts again for a while or that we have become more cautious.  What we do see is that people know where they can compare contracts online. More than 1 in 2 Flemings knows about the V-test .” The V-test is on online tool (in Dutch) where people living in Flanders can compare energy contract. By comparing contracts and switching to a cheaper supplier you can save hundreds of euro on your annual energy bill. 

VRT News did the V-Test and we discovered that savings of up to 500 euro/annum can be made on electricity and up to 600 euro/annum on gas by comparing prices in the V-test and switching to the cheapest supplier.

An average household that switches from the most expensive to the cheapest supplier for electricity and gas can save almost 1,100 per annum. 

Evening if you currently have the best deal this might not always be the case. VREG advises house household to compare contracts every.

Suppliers are constantly changing their tariffs even though the name of their contract remains the same. This can be confusing, and it could well be the case that the cheapest contract now won’t be the cheapest contract in a year’s time. 

From its survey VREG learned that 1 in 10 households simply don’t know what type of contract they have. There are fixed contracts where the price remains the same for at least a year and variable contracts where the price is adjusted monthly or every three months. Other types of contracts are less well known.

Just 2.5% of households have contracts where they receive the final bill every month rather than paying a monthly advance and paying anything they still own after a year.

The so-called “Injection contracts” for households with solar panels that enable them to sell any excess energy produced to the energy company are not widely known among the general public. 

Comparing contract prices and changing suppliers is relatively easy. All you need to know is your annual energy consumption. You enter it in price comparison function on sites such as the V-test these then provide you with a list of contracts ranked according to price.  

You can change supplier at any time. You don't even have to wait for the end of your contract. Entering a new contract with a new supplier and informing your current supplier that you wish to terminate your contract is sufficient.

The suppliers arrange the transfer among themselves.