For example, a number of electricity suppliers offer free days and discounts. But if these run out, costs can skyrocket.
If state energy suppliers make offers for supposedly cheaper electricity rates, you should be careful: According to an analysis by durchblicker.at, the new rates are sometimes more expensive than the old ones – and often opaque.
Although the change will save households from five to twenty percent (depending on the state) – but only in the first year of the contract period. However, if the offered free days, exchange bonuses, loyalty discounts, etc. expire, the costs can skyrocket.
The brake on the electricity price expires at the end of June
Caution is especially advised because the government’s electricity price brake expires at the end of June 2024. Up to a consumption of 2900 kilowatt hours (kWh) per year, this results in a cost ceiling of a maximum of ten cents net per kWh. Anyone with a higher price per kWh will pay the full rate from July 2024.
But those who opt for a different rate now cannot look for a new provider, as there is usually a binding term of one year. Unfortunately, even after that, many forget to switch providers.
If you want to avoid these problems, you can opt for a variable ‘Floater’ rate. There are no discounts here, but the prices per kWh are currently low and there is often no binding deadline.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
