May 30, 2023

Taylor Daily Press

Complete News World

Belgian families pay less for gas and electricity than in neighboring countries

For households, Belgium will be the cheapest country for natural gas in 2023 at €113 per megawatt hour (MWh), followed closely by France. For the average Flemish household consuming 23,260 kWh per year, this would mean an annual bill of €2,628. This was calculated by consultant PricewaterhouseCoopers.

Reducing the VAT on natural gas to 6 percent plays an important role in this difference. Within Belgium, Flanders is slightly cheaper than Brussels and Wallonia due to lower taxes and surcharges.

The electricity bill for households and businesses connected to low voltage decreased in 2023 compared to last year. However, as in 2022, the prices are much higher than in previous years. Only France, where electricity is regulated by the government as a standard product for families, is cheaper than our country.

For the average Flemish family of three to four people with an electricity consumption of 3,500 kWh/year, this would mean an annual bill of €1,383. This is 395 euros per MWh. In France, at 268 euros / MWh, that’s no less than 127 euros.

For Belgian companies, the natural gas bill is usually in line with its foreign counterparts, thanks to relatively low fees, surcharges and network costs. Since the energy component has a significant weight in the total bill, the differences between countries are very small. Companies in our country pay 124 euros per MWh.

Belgian companies on the medium voltage grid usually pay less for electricity than neighboring countries. This is due in part to the temporary reduction of special excise duties specifically for that target group. After Germany, Belgium is the cheapest country. Belgian companies pay an average of 247 euros per MWh.

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The joint study of the four regulators CREG, VREG, Brugel and CWaPE is a follow-up to their 2020, 2021 and 2022 price comparison studies. The report compares January 2023 prices with January 2022 prices for businesses and February 2023 with February 2022 for households.

Gas prices are falling

Meanwhile, gas prices have been falling across Europe for weeks. Today the price is even lower than 32 euros per MWh. This means that the price of gas in Europe is at its lowest level since July 2021.

Since the beginning of this year, prices have already more than halved, thanks to relatively mild temperatures, ample supply of liquefied natural gas (LNG) and more and more renewable energy being generated.