Tuesday 23 July 2019

Electricity bills set to soar next year as prices rise and taxes loom

Photo: DutchNews.nl

Electricity bills will soar in 2019 because prices for power are currently rising, according to the latest ABN Amro energy monitor.

Electricity prices have currently reached their highest point since 2010, at €63 per megawatt hour. But in February, the bill was only €37 per megawatt hour, analyst Hans van Cleef said.

Energy prices have been driven up by increases in the price of gas, the cost of imported energy from Belgium and the price of carbon emission rights, which have tripled since the beginning of the year, Van Cleef said.

The increase in the cost of power is not the only factor likely to boost energy bills next year. Power companies warned this spring that bills are likely to go up by around 15% because of the tough winter.

Bills will also go up next year because of increased taxes on energy use which were introduced in the 2018 budget.  Consumer service comparison website Pricewise said it expects households will have to pay an extra €150 on their energy bills from 2019, when the new coalition’s plans come into effect.

Most people pay a fixed monthly amount for electricity and the balance is made up once a year, when new payments are estimated for the following year.

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