Gas and electricity price brake 2023
- What does it bring us?
- How does this work?
- What should you do now?
- How much can consumers save and how will prices develop?
Energy prices in 2022 at record levels
Last year, electricity and gas prices were at record levels: in August, the average wholesale gas price was 346 euros per megawatt hour. A year earlier it was 80 euros. However, there are currently signs of a significant reduction in energy prices.
Energy saving brake from March 1st
From March 1st, the state wants to further relieve the burden on citizens and is therefore capping electricity and gas prices. In concrete terms, this means that customers should pay a maximum of 40 cents gross per kilowatt hour for 80 percent of their electricity. The regular contract price applies to the remaining 20 percent. Money will also be credited to consumers from the months of January and February. The energy price brake is financed from taxpayers' money.
What to pay attention to when changing providers
Despite falling prices, energy expert Uwe Pöhls recommends consumers to consider switching providers and to pay attention to the term of new contracts. Contracts without a fixed price could experience drastic price increases at any time. His assessment is that contracts with fixed prices for twelve months in particular are a good choice - this way you don't take any risks.
Changing provider: makes sense?
Changing gas and electricity providers may be worthwhile in the next few months. However, consumers should carefully check the contract details of new offers - and pay attention to the contract term.
Source and author: SWR Marktcheck/ Stefanie Waldschmidt
German Federal Government: Basic supplies at cheaper prices
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