The comparison portal Check24 found that 261 electricity suppliers have reduced their tariffs since the beginning of the year or are planning to do so in the coming months. On average, the price is only down by six percent, but in some cases – for example at the Munich public utility company – prices also fall by a good 20 percent. The cuts will reduce the bills of around 4.9 million German households.
The average price per kilowatt hour for basic suppliers is currently 45.5 cents. That is just above the electricity price brake, which caps costs at 40 cents per kilowatt hour until the end of the year. With typical annual consumption, significant savings are still possible. Thanks to the average six percent price reduction
A single household with 2,000 kilowatt hours of consumption spends around 58 euros less per year. A couple with a consumption of 3,200 kilowatt hours spends around 93 euros, and a family with an annual consumption of 5,000 kilowatt hours spends 145 euros
If your basic provider has even reduced prices by 20 percent, you will save between 228 and 569 euros per year, depending on the type of household.
Billing drops automatically
To take advantage of this savings, you don’t have to do anything. The supplier will charge the cheaper prices from the specified date without request. However, refunds are only available with the annual statement. The suppliers will then recalculate the advance payments based on the then valid prices. Because the electricity price brake expires at the end of 2023, this could still mean an increase in payments for customers in the basic supply because the average electricity price in these tariffs is still above the level of the brake.