Choose your energy contract: on your own or with an adviser?
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November 19, 2020
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Last update on July 11, 2024
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7 min.
In general, assessing the value of advice is quite complex. Yet when this advice affects your energy bills, it is easy to determine the value. Without the support of an adviser, only 27% of Belgian households choose an appropriate energy contract.
Do not expect our experts to contradict you: understanding and choosing your energy contract is not an easy task. In Belgium, consumers who compare their energy contract are faced with around 724 existing rate plans.
There are so many that making the right choice is not very obvious. According to a recent Energyprice.be analysis based on 2,678 energy contract changes, the figures speak for themselves. Without support, nearly 73% of consumers did not opt for a plan that was deemed “suitable”. Conversely, almost 8 out of 10 households chose an offer that met their needs when this choice was made with the help of an adviser.
Thus, there is no more room for doubts about the value that the support of a specialist can provide.
The help of an expert is welcome when it comes to comparing and choosing an energy plan that meets qualitative criteria.
But what can be considered a suitable offer?
The energy market is constantly fluctuating as it evolves in synch with various factors such as current events and weather conditions. And despite the fact that 2020 was a year overshadowed by Covid-19, the rates posted by suppliers were still able to brighten things up. At least, until now since this second half of 2021 is placed under the increase of energy prices.
As part of this analysis, experts at Energyprice.be therefore not only monitored energy market developments but also identified fundamental characteristics that could help to determine what constitutes a suitable plan. So, to be considered “suitable”, the ideal energy plan takes into account the following characteristics:
A fixed-price contract;
A competitive rate (with or without promotion);
The inclusion of offers from wind power cooperatives (in line with consumers’ ‘green’ values);
The possibility of choosing the means of payment (transfer or direct debit) and billing (post or e-mail);
Promotions and fees applied on a pro-rata basis.
Which energy supplier suits you best? Find it out with a simulation!
Why choose a suitable offer?
Obviously, this so-called “suitable” plan is a perfect energy contract for a consumer with a moderate risk profile and average consumption. With a view to securing a competitive rate in the long term, the suitable plan fulfills the wishes of a large majority of Belgian households. So much so that 85% of consumers who compare their contract on Energyprice.be trust the support of our experts to help them find a plan that is suited to their needs.
What about the others?
Ultimately, it is crucial that every consumer can retain the decision-making power over the plan that catches their eye. And yes, if the recommendation is key, the final word always remains with the customer. As a result, consumers with a higher risk profile, with very low consumption (favorable to variable prices) or open to stricter payment terms (quarterly or annually for example) may prefer an energy contract that does not meet the criteria of a suitable plan.
A complex market for individuals
Despite the fact that price is one of the main factors for considering a change in plan, not everything depends on it. The proof is that the terms of payment and the affinity with the values of the supplier are also criteria that can play a part. Add to that the hundreds of products (electricity and gas) available on the Belgian energy market in 2020 and it doesn’t take much to feel lost. This is why the experts at Energyprice.be consider it essential that customers do not hesitate to share their needs with them in order to choose the right energy contract together. Let us make your life easier and reduce the gap by 50%!
For Antoine Dumont, head of Energyprice.be, these results are not surprising given the complexity of the market.
“The industry is quite complex and consumers need help to gain clarity. Some advertisements may appear attractive when in reality they are not as good as they seem. Our advisers know how to identify which plans offer promotions or not. We strive to offer support by comparing all the plans on the market, unlike door-to-door sellers. By talking to consumers, our advisers can guide them to a product that is truly right for them.” »
Watch out for dormant contracts!
As you now know, understanding the vast energy market takes real expertise. And while many of these changes have shown that the help of an adviser is necessary, they also underscore the importance of being prepared to compare your current contract to reduce your annual spending. A comparison made all the more difficult for households with a dormant contract since it is no longer listed by price comparison sites. In October 2020, CREG (the Belgian Federal Commission for Electricity and Gas Regulation) estimated that 500,000 Belgian households still have one of the 14,596 dormant products (electricity and gas), which are several hundred euros more expensive per year than active products.
So now that tools and services such as Energyprice.be exist, is the fear of change or of choosing a “bad plan” really justified?
A great combination: certified tool and support
With an average of 290 euros in savings on their energy bills, households who have used our CREG-certified price comparison tool already know the value. While it is true that choosing a reliable tool ensures the accuracy of the proposed results, transparent, fast, and customized support is just as essential.
From the beginning to the end of your experience on Energyprice.be, our advisers follow up before, during, and after changing any energy contract. This way, they can make sure that you get the best prices as well as relevant, objective, and quality information. To benefit from CREG certification, the platform promises to:
Supply clear information on the service;
Provide the user with an intuitive and easy-to-use service;
Be precise and provide non-misleading, complete, correct, relevant and up-to-date information;
And act responsibly with the information obtained from and transmitted to the user.
Thanks to the comparison tool and the free support of advisers like Saïda, Julien, and David, reducing your energy bills has never been easier.
How to save money and energy?
Now, as you can see, it is definitely worth availing of an energy adviser to find a plan that is best suited to your needs. What’s left for you to do? Contact one of our advisers and let them guide you.
However, if it is also important for you to take action and participate in reducing your energy consumption, our experts can also help you. In addition to comparing your plan with our advisers, find out about our tips for reducing your gas and electricity bills!
