Energy prices in Flanders drop substantially in January

The average annual bill for electricity and natural gas in Flanders has fallen sharply in January, revealed Flemish regulator VREG. Electricty and gas prices have reached their lowest levels since last summer.

The estimated annual bill for those taking out a contract for electricity in January fell to 1,741.08 euros, 270 euros less than the estimated annual bill in December. Natural gas sees an even bigger drop with an average bill of 2,450.93 euros in January, saving 629 euros compared to December.

The drop is caused by electricity and natural gas becoming cheaper on wholesale markets. Natural gas in particular has become significantly cheaper on the futures markets over the past month, influenced by mild temperatures and sufficient supplies.

These are estimates by VREG based on suppliers' tariff cards for January. But the drop is not only good news for those who took out a contract this month. Everyone with a variable energy contract ultimately benefits from the downward trend. 

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