Families turn to fixed energy deals as prices rise

Families in Flanders rushed to secure fixed electricity and gas contracts in March and April as energy prices climbed following the conflict in Iran and the wider Middle East.

Figures from the Vlaamse Nutsregulator show the share of households with fixed electricity contracts rose from nearly 28% in March to almost 32% in April, the highest level since early 2023. For gas, the increase was even stronger, rising from just under 31% to more than 36%.

The move came after international gas prices surged when fighting involving Iran intensified. Many households feared further increases and chose fixed tariffs to lock in prices for the duration of their contracts.

Variable contracts still remain the most common. By the end of April, 66.8% of Flemish households still had a variable electricity contract, while 63.4% had a variable gas contract. Dynamic electricity contracts, where prices change hourly, remained rare at around 1.4% of households.

Energy suppliers reported strong demand for fixed contracts. Some companies raised their fixed rates, withdrew offers, or struggled to cope with the number of customers switching.

Despite the recent shift, regulators note that variable contracts were still cheaper on average last year. According to the VNR, households with variable contracts paid about €131 less for electricity and €179 less for gas than those on fixed deals.

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