Energy prices in Belgium: towards another increase?

Depuis le début de la crise sanitaire en 2020, le marché de l’énergie a subit de fortes pressions et, par conséquent, une inflation spectaculaire et historique. En ce début 2022, qu’en est-il de la situation et quel impact cette hausse peut avoir sur votre portefeuille ? Comparateur-Energe.be fait le point sur ces 6 derniers mois.

Theevolution of energy prices sometimes reminds the Russian mountains. There are distressing rises, then vertiginous descents, and from one peak to the other, there are small overflows. Between April and September 2020, remember, we knew in Belgium one of these moments of sharp decline. All the medias talked about it: electricity prices and (above all) natural gas prices had reached floor levels. The cause, of course, is attributable to the health crisis of COVID-19, but not what. The gentle temperatures of two consecutive winters coupled with sunshine and favourable winds also played their rose.

However, the situation does not seem so idyllic for our portfolios since 2021. Indeed, since the end of the year 2020, gas prices have again inflated, and those of the electricity followed the step. How will this inflation impact your finances? What can you do to minimize effects? To help you take stock, Comparator-Energy.be has analyzed the evolution of energy prices over the last 6 months.

>> When to change energy contract?

Gas price: €1394 more on average on your annual bill

Between July 2021 and December 2021, natural gas prices rose by an average of 50% in Belgium*. The Belgian average annual gas bill is thus passed from € 1386.05 to € 2780.21.

In fact, when you look at the detail in Region, you can see similar proportions, ranging between 45 and 50%. Three Regions all suffered an increase of €1289.46 between July and December 2021:

• In Wallonia, the average annual bill is up 44%, from €1641.75 to €2931.21;

• The Brussels meanshave an inflation rate of 47%. with an annual gas bill from 1461.14 to 2750.6 € on the same period;

• Finally, in Flanders, this is the same fight, with a 48% increase on the annual bill for individuals, which also exceeds the two-mile (2658.82 €) bar when it was € 1369.36 last December.

Despite this alarming increase over the past 6 months, the events must be put into context. Indeed, several factors result from this historical increase. These include the rise in the market for big business following the resumption of post-coronavirus economic activity. This parameter required commercial suppliers to align their tariffs. Furthermore, the decrease in gas storage space in Europe increased its import demand and, by consequence, caused repercussions on its price.

>> To know all the causes of rising energy prices, check out our article: “High energy prices on the wholesale market: a risk for our invoices?

Electricity price: your invoice is increased by €488 per year

Improve the wide difference in gas prices, this “small” increase in electricity price would almost serve as a breath of fresh air. As a result, Belgian households only see their average annual bill increase by 27%* for their electricity consumption. It is thus increased from €1002.69 to €1386.05 between July 2021 and December 2021.

By region as well, the difference is on average 27%:

• The Walloon means have had their annual bill believe from €392.87 from €1062.66 to €1455.533;

• At Brusselsmemoirs experienced a €369.38 increase on their annual electricity bill, improving it to € 1285.49 after July 2021, when it was at € 916.11 at the closing of last July;

• The Flemish are getting away with an increase of €387.85 from €1029.29 to €1417.14 in 6 months.

>> Read also: Analysis: the energy bill takes off for 100,000 Belgian swims

Will prices continue to rise?

The big question now is whether this rise will be maintained, and, if so, for how long. This will depend on many factors and no clear trend seems to be emerging at the moment.

For gas, it can be assumed that this year’s cold wave will have influenced our heating consumption. As a consequence, it would not be surprising if the prices were to remain somewhat at a fairly high level. However, there is no guarantee that this will always be the case in a few months’ time.

>> Read also: Your energy consumption increased abnormally this winter? That is why.

For theelectricity, the renewable energies is gaining more and more weight. But since they depend on meteorological conditions, trying to predict a precise evolution would be in vain. All the more so in Belgium, the record of the release of the will force an influence on the electricity prices over the long term.

>> Energy price increase: what suppliers have put in place

Fight the price increase: compare and change contract!

Hauss or not, one thing is certain, the only way to pay less energy over time is to compare your electricity and gas rates regularly.

Fortunately, today it is easy to check your prices and change contract.

• First, go to the CREG Scan, the federal regenerator tool, to check if your contract is more expensive or not the market average.
• Next, use a certified price comparator, such as Energy Comparator. e, to find another cheaper contract and sign up directly online. The good news with our comparative tool is that it also integrates the promotions offered by the different energy providers.
• Finally, get in the habit of checking your rates once a year. As a reminder, you can change the contract whenever you like, no breakage compensation regardless of the initial hardship of the contract.

Don’t wait any longer to limit the effects of rising prices on your energy bill, and find a new, cheaper contract!

>> Comparator-Energie.be reports on price increases and future changes in 2022.

*Based on the following hypotheses set up by CREG :

• Gas: average consumption of 23.260 kWh per year (residential – customer type T2)
• Electricity: average consumption of 3,500 kWh per year (residential – type DC customer), single-hour rate