July 23, 2024, 2:55 pm | Read time: 3 minutes
Good news for all consumers: Currently, there are affordable rates for electricity and gas on the market. Customers still in basic service can particularly benefit now.
Recently, consumers were often unsettled due to highly fluctuating electricity and gas prices. However, the situation has somewhat stabilized. For over a year now, there have been significantly cheaper rates for gas and electricity. Therefore, it may be worthwhile to switch your gas and electricity tariff now. The consumer advice center reveals how much savings are possible and what to watch out for.
Switching Gas and Electricity Tariffs Is Worthwhile
Rates for electricity and gas are currently at a lower level than they were some time ago. “Switching providers is therefore a good way to save money. Those still in basic service pay an unnecessarily high electricity price of an average of 40 cents per kilowatt-hour,” explains Christina Wallraf, energy expert at the Consumer Advice Center NRW. A family of three still in basic service could save an average of 350 euros per year on electricity.
But even consumers who haven’t switched for a long time often pay too high a price. By changing their gas and electricity tariff, they can permanently reduce their costs.
New Customer Prices and Savings Potential
Many energy providers offer affordable rates below basic service prices. Currently, electricity prices start at around 28 cents per kilowatt-hour (Ct/kWh). Gas prices can be found starting at approximately 9 Ct/kWh.
Many municipal utilities also offer affordable rates in addition to basic service. Consumers should compare market prices with their current contract prices and calculate their savings potential.
Also interesting: 9 tips to effectively save electricity at home
Clarify Termination of Existing Contract
If you want to switch your gas and electricity tariff, it’s important to know the remaining term and notice period. If the contract was concluded before March 2022, special attention is required, as the tariff can automatically extend for another twelve months. If you are currently in basic service, the contract can be terminated at any time, considering the statutory two-week notice period.
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Use Comparison Portals Correctly
Online comparison portals can be useful for finding the right electricity or gas tariff. It’s important to adjust the default settings of the comparison portal before making a tariff comparison. To display as many tariffs as possible, the filter “direct switching option via the portal” should be turned off. Recommendations from the comparison portal also unnecessarily limit the tariff selection.
Tip: For the contract term, the consumer advice center recommends a one-year term including a price guarantee.
What to Look for in a New Provider
Before signing a contract, you should conduct a brief internet search on the potential new provider. This way, you can find out if the provider has had negative incidents in the past. However, the consumer advice center warns against relying solely on other customers’ reviews on the comparison portal. Some providers that have already caused problems are listed at the top of the portals.
Switch and Save
“Switching providers can help reduce electricity and gas costs. You should compare current prices, check contract terms, and choose a reputable provider. Comparison portals are an effective tool if used correctly. The consumer advice center offers checklists for recommended filter settings online.”