According to the comparison portal Verivox, energy costs for private households have fallen again for the first time in two years.
Accordingly, spending on heating, electricity and fuel fell by an average of 18 percent from January to March.
According to an energy expert, many energy suppliers have lowered their prices after fears of a supply shortage in the wake of the Ukraine war subsided.
In the first quarter of 2023, energy costs for private households fell again for the first time in two years. This is the result of an analysis by the comparison portal Verivox.
According to this, the annualized expenditure for heating, electricity and fuel fell by an average of 18 percent from January to March, as Verivox announced on Saturday in Heidelberg. Previously, costs had risen for eight consecutive quarters. “In addition to falling prices on the raw materials markets, the government energy price brakes also provided significant relief,” it said.
Households have benefited from price controls
According to Verivox, the energy costs of a model household in the 4th quarter of 2022 were still an extrapolated 7163 euros per year. In the first three months of 2023, the same amount of energy cost 5889 euros per year.
The model household assumed by Verivox has an annual heating requirement of 20,000 kilowatt hours, an electricity consumption of 4000 kilowatt hours and an annual mileage of 13,300 kilometers. When calculating the heating costs, it was taken into account that in Germany more heating systems are heated with gas than with oil.
“With the receding fear of supply bottlenecks, wholesale prices for energy have fallen continuously in recent months,” explained Verivox energy expert Thorsten Storck. As a result, many energy suppliers lowered their prices.
Households would also have benefited from the state price brakes. According to Verivox, without the price brakes, the annual energy costs for a model household in the first quarter of 2023 would be 6604 euros and thus 8 percent below the costs in the 4th quarter of 2022.