Regulator sees wide variation in energy prices, calls for more transparency

As a consumer, it is always helpful to compare the tariffs of different energy companies. The Dutch Consumers and Markets Authority (ACM) has identified large price differences, which can amount to hundreds of euros a year per household. The regulator believes energy companies should provide better information to households.

Meanwhile, ACM is examining the tariffs of the three largest energy companies to ensure they are not unreasonably high. The regulator has yet to receive any tangible signs that Essent, Eneco and Vattenfall are imposing very high tariffs, but due to the rise in energy prices, price caps and infrequent supply of energy contracts, the ACM has been slapping the energy sector.

hard to compare

ACM publishes a monthly Consumer Market Energy Monitor report to give households a better idea of ​​the implications of the supply and price cap. Martijn Snoep, CEO of ACM: “Our monitor shows that there are big differences and there are new opportunities for consumers. Not all providers make an effort to impress customers and it’s hard to compare what’s on offer. Providers must be transparent about their tariffs and make sure that what they offer is easy to find.”

In monthly energy monitoring, citizens can see how various energy contracts are developing according to their consumption. According to ACM, energy companies themselves do little of this.

Fixed Contracts

Large energy companies expect to conclude long-term contracts again from April. From April, new rules similar to mortgage rules will apply for the termination of a permanent employment contract. The consumer who concludes an open-ended contract is fundamentally bound by it. If the person still wants to get rid of it, higher cancellation fees than before will be paid.

Delivery of energy contracts fell last year due to high gas and electricity prices. Anyone who had to sign a new contract had to sign a variable contract at very high prices.

Jetten, the minister for climate and energy, will also require by law that energy companies once again offer long-term contracts. This will give households some reassurance when the price cap is lifted this year.

Source: NOS