September 28, 2022

Taylor Daily Press

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Environmental energy customers also no longer run away: the energy cooperative raises electricity tariffs sharply

Environmental energy customers also no longer run away: the energy cooperative raises electricity tariffs sharply

At peak times, Ecopower is forced to purchase energy from the spot market. As a result, it has to raise interest rates. © Fred Dubrook

And the energy cooperative Ecopower is no longer escaping the energy crisis either. The green energy provider will increase its prices sharply from November, and may even go higher in December.

Peter Van Miley

So far, more than 60,000 Ecopower customers have escaped price hikes in the energy markets. While prices at the more traditional suppliers on the market have often increased by six times since the beginning of last year, kilowatt-hour prices at the energy cooperative have barely fallen until this summer.

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So far, this has been a success, because the cooperative generates its own green electricity through local wind and hydroelectric plants and via solar installations. For example, Ecopower customers have been removed from the grip of exorbitant gas prices in European energy markets.

However, this is now changing drastically. in Statement on his website Ecopower reports that it will be necessary to triple prices from November 1 in one fell swoop. You can read “Although we want to be as self-sufficient as possible with our co-op system, we are still partly market dependent”. “On an annual basis, Ecopower has enough green energy to cover the total supply, but sometimes we still have a shortage.”

89 cents per kilowatt-hour

In those peak times, Ecopower is forced to purchase energy from the spot market. Today, they are much more expensive than the prices the cooperative charges its customers. Of course we don’t have a crystal ball, but the price of 1,000 euros per megawatt-hour at the end of this year is not a ridiculous assumption. That’s twenty times what it was eighteen months ago. That is why we have to adjust our pricing system,” it seems. “This way we monitor the financial position of the cooperative.”

Starting this fall, Ecopower will use electricity prices that are half a constant and half a weighted average of the kilowatt-hours prices in the spot market for the past month.

For November, Ecopower expects electricity tariffs to reach 56 euro cents per kilowatt-hour. Including network costs, VAT and fees, depending on where the customer lives, this can be up to more than 70 euro cents. This is more than double the current total price of about 30 euro cents per kilowatt-hour. For December, Ecopower takes into account prices that will be five times higher than the current price.

Information sessions for clients

The energy cooperative reports that its prices have barely risen in recent months. It also promised that it would lower its prices “immediately” once the spot market cooled. To be clear, this is not the case yet. So Ecopower is clearly bored with the drastic increase. The co-op organizes two information sessions for interested clients in September. “In the long term, we aim to provide enough electricity at all times to meet the demand of our members,” it appears.

Since April, Ecopower has stopped accepting new customers, in order to deal with the massive influx of solar panel owners in particular who wanted to join the cooperative due to favorable electricity prices.

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