© ROBIN UTRECHT
The average energy bill for households fell again in March. This is evident from figures from the Flemish energy regulator VREG. Prices are at their lowest level since September 2021.
Friday, March 15, 2024 at 7:34 PM
VREG figures show that the estimated electricity bill of an average family that concluded a new electricity contract in March drops to 1,109 euros on an annual basis. In February that was 1,152 euros. There is also a decline for natural gas; to an average of 1,301.10 euros per year. In February that was 1,385.40 euros.
The price of natural gas peaked in the fall of 2022, when Europe had to wean itself from Russian pipeline gas in the wake of Russia’s invasion of Ukraine. Afterwards, gas prices fell. Gas supplies appeared to be sufficiently replenished, there is sufficient supply of liquefied natural gas (LNG) and there is also less demand for natural gas, due to an ailing industry, mild temperatures and an increasing supply of renewable energy.
Yet specialists point out that Europe remains very vulnerable to supply shocks, for example if demand were to suddenly increase due to an industrial recovery.