Electricity and gas are becoming cheaper: savings for millions of households!

Electricity and gas are becoming cheaper: savings for millions of households!

From January 2024, consumers in northern Germany can look forward to the fact that basic electricity and gas prices will fall. According to the latest information from the comparison portal Verivox, around 2.2 million households benefit from this positive news. On average, electricity prices will be reduced by 9%, which means a reduction of around 161 euros per year for a household with a consumption of 4,000 kilowatt hours. This makes it clear: many customers can breathe a sigh of relief and invest these savings in other areas.

The 113 price reductions identified by electricity providers are particularly pleasing. For example, Rheinenergie in Cologne is reducing prices to 31.48 cents per kilowatt hour, which corresponds to a decrease of 12%. MVV in Mannheim also struck with a price reduction of almost 11% to 34.82 cents. These reductions are due to lower procurement costs and government subsidies, informs [nordkurier.de](https://www.nordkurier.de/wirtschaft/strom-und-gas-in-grundsorge- Werden-fuer-viele-guenstiger-4103755).

Price sharing in the gas sector

As far as gas prices are concerned, the signs also point to savings. 69 price reductions were noted, an average of 7%. Around 700,000 households benefit here and can look forward to savings of around 183 euros per year for a single-family home with a consumption of 20,000 kilowatt hours. However, there are exceptions in this area too: some providers have announced increases of an average of 6%. Rheinenergie and the Munich municipal utilities, for example, are reducing gas prices by 8% to 12.34 cents per kilowatt hour.

Current developments show that the basic service not only represents a legally required minimum, but also offers attractive options for consumers. Around a quarter of households currently receive electricity at the basic supply tariff, while the figure for gas is around 20%. Most basic providers also often offer cheaper tariffs, so it's definitely worth taking a look.

Market overview and consumer rights

The changes must be announced to consumers at least six weeks before they come into force. What is particularly surprising is the fact that not all households can benefit from the price reductions. The electricity network fees do not fall equally everywhere, explains [boersennews.de](https://www.boersennews.de/nachrichten/artikel/dpa/strom-und-gas-in-grundbedarf- Werden-fuer-viele-guenstiger/4953160/).

However, there are easy ways for consumers to check existing contracts. Basic service contracts can be canceled at any time with two weeks' notice, giving customers the freedom to shop around for better deals. It is advisable to stay active and keep an eye on the tariffs, because the competition never sleeps.