With electricity and gas prices rising, Belgians are advised to look carefully at their energy bills. According to information from Belgium's energy regulator CREG, only one in ten Belgian households are using the cheapest energy supplier.
Analysing the offerings of major energy suppliers across the country in March, CREG notes that 39% (or 515,000 Walloon households) were on the most expensive electricity contracts. Only 10% of consumers were using the most affordable contracts. Likewise for gas, some 36% of households were on the most expensive contracts in Wallonia and only 12% on the cheapest.
This trend is observed in all of Belgium’s regions. In Flanders, the statistics are similar. In Brussels, 22% were on the most expensive electricity contracts, versus 7% on the cheapest. Some 42% of Brussels consumers were using expensive gas contracts. Barely 2% were on the most affordable rate.
According to the regulator, this means that around 845,000 Walloon consumers could save between €100 and €360 per year on their electricity bill if they were to switch providers. An additional 200,000 Walloon households could save between €125 and €540 on their gas bill.
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In Brussels, 70,000 households could save €100-130 on electricity; 44,000 could save €100-160 on their gas bill.
Following Russia’s deliberate manipulation of the energy market, as well as repercussions from Russia’s invasion of Ukraine, consumers have been faced with record high energy bills.
In April, Flemish energy regulator Vreg noted that average annual energy bills in Flanders had reached €1,708 – an all-time record. Consumers who signed an energy contract in April could face an energy bill as high as €3,659 by the end of their contract.
In April, the government slashed VAT on electricity and gas from 21% to 6%. Unfortunately, rapidly rising prices have completely wiped out these savings and customers are no longer feeling the benefits of these tax cuts.
