Eneco customers will pay 28 euros less for gas and electricity next month. Most of that price reduction is the result of the government’s VAT reduction. Because Eneco can buy cheaper gas, the bill will be reduced by another 10 euros, a spokesperson confirmed on Thursday after reporting from RTL Z† Eneco wants to lock in that price for three months, but it is uncertain whether that will be possible.
At the moment, a cubic meter of gas at Eneco costs 1.99 euros and a kilowatt hour of electricity costs 0.39 euros. That will be 1.69 euros and 0.36 euros respectively from July. This makes Eneco the only energy supplier to lower its prices for the time being. Vattenfall and Essent announced in recent weeks that prices are going up.
Eneco refers to its purchasing strategy. The company has been buying energy monthly since March, which makes it easier to follow market movements. Other companies do this quarterly or semi-annually.
“In March, when the war in Ukraine had only just started, our price was at a very high level of 2.57 euros per cubic meter of gas,” says an Eneco spokesperson. “Since April, those prices have been falling again and next month they will therefore come to 1.69 euros.”
Eneco’s aim is to keep the price at that level for three months, but the question is whether that will be successful. The gas market is currently very unpredictable and since Russia cut off several countries from gas, the price has risen sharply again.
To slightly dampen those price increases for households, the cabinet will lower the VAT on electricity and gas from 21 to 9 percent from next month until the end of the year.