Starting from November 2022, VREG, CWaPE, BRUGEL, and CREG will implement a uniform method to calculate the estimated annual cost of contracts with variable electricity and natural gas prices. The new method, which has been applied by VREG since May 2022, takes into account the expected energy prices for the next 12 months based on the latest available price quotations on the energy exchanges for future deliveries. The aim of the method is to propose the most reliable ranking of supplier product offerings in the interest of consumers. The Belgian energy regulators will continue to monitor and refine the methodology if necessary.
Currently, prices in the electricity and natural gas markets are highly volatile. The estimates provided by a price comparison website are a snapshot of the expected annual cost of each product, solely for the purpose of comparing products from different suppliers. Due to significant price fluctuations in the gas and electricity markets, these estimates may vary greatly from month to month. Users of price comparison tools should be aware that the amounts will differ from the final billed amounts. The regulators, recognizing the significant impact of rising prices on consumers' lives, encourage them to carefully review their energy contracts and stay vigilant about developments in the energy market using price comparison tools.
This adjustment does not impact the dashboard. The average commercial electricity price in the dashboard remains a calculation based on the prices listed on the rate sheets of a selection of products offered to household customers in the respective month.
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