Tuesday 07 February 2023

Eneco to cuts electricity and gas rates from January 1

Photo: DutchNews.nl

Energy firm Eneco is cutting its rates for electricity and gas from January 1, going against the trend of the largest Dutch providers Essent and Vattenfall.

Eneco will charge 69 cents per unit (kWh) of electricity, making it the cheapest of the four largest suppliers, down from the current level of 84 cents. Gas prices will go down from €3.39 to €2.99 per cubic metre.

Both rates are still far above the level of the energy price cap of €0.40 per unit of electricity and €1.45 per gas unit. Consumers will pay these guaranteed rates for the first 2,900 units of electricity and 1,200 units of gas they use in 2023, with the government paying the difference.

Greenchoice is currently the most expensive of the four providers, but it is also cutting its prices next year from €1.04 to €0.82 for electricity and €3.44 to €2.55 for gas.

Eneco and Greenchoice’s rates are currently much higher because they bought more gas and electricity than its competitors during August and September, when prices on the TTF international gas futures market shot up to nearly €350 per megawatt hour. It has since come down to around €120.

Essent customers are currently paying the cheapest unit prices of €0.44 for electricity and €1.99 for gas, but these will rise to €0.82 and €2.98 in January. Vattenfall’s prices are rising from €0.50 to €0.84 for electricity and €2.02 to €3.22 for gas.

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