The consumer organization Vastelastenbond is very concerned about the possible exorbitant profits of the energy suppliers, because they do not pass on or only pass on the lower gas prices to the customers. As a result, consumers do not benefit from lower purchasing costs.
Vastelastenbond therefore calls on the Consumers and Markets Authority (ACM) to closely monitor the matter. Gas prices have fallen sharply recently, helped in part by the mild weather.
“Sounds good, because consumers expect to see this drop in their floating rates,” says Vastelastenbond director Dirk-Jan Wolfert. “The point is, it could take some time for energy providers to pass on this decline, if at all. Until the price decline is passed on, consumers will continue to pay full price on their energy bills.”
He says energy suppliers pass on rising purchase prices to customers quickly, but that that could be a different story if purchase prices fall. Furthermore, according to Wolfert, consumers cannot switch to a cheaper offer because there are currently hardly any offers. “Because of this artificial market situation, the consumer is trapped in a variable contract that doesn’t always move well with the market.”
Wolfert therefore recommends close supervision by ACM. “These times require a proactive attitude from the regulator and fair market forces. ACM must correctly calculate whether the tariffs are correct and monitor how the tariffs are set. This should prevent companies from making exorbitant profits. Consumers must be protected against ‘unpredictability of the energy market.’
