Fixed energy contracts rise steeply again in November, with Engie still the cheapest option for gas

Belgian energy suppliers sharply raised their fixed tariffs again on 1 November, RTBF reports. At Luminus, a fixed single-rate electricity contract now costs 27.3 cents per kilowatt hour, around 30 percent more than the 21.03 cents of October. At TotalEnergies the fixed gas price climbs to 11.39 cents per kilowatt hour, compared with 4.32 cents in January. The cause lies in the wholesale market, where gas trades above 100 euros per megawatt hour because of the conflict in the Middle East, the difficult refilling of European stocks and competition from Asia for liquefied gas.

Engie is the exception. The supplier already raised its prices in October and now offers new customers large discounts, making its fixed gas contract at 10.31 cents per kilowatt hour the cheapest on the market, according to RTBF. Engie's fixed electricity price also fell slightly. For a family of four with average consumption, a fixed TotalEnergies contract signed in October rather than September already cost about 800 euros more per year, RTBF calculates.

Test Aankoop found in mid-October that a fixed contract for electricity and gas was more than 900 euros more expensive than in March, before the war in the Middle East drove up prices, and that the gap between the cheapest and the most expensive fixed offer in Flanders and Wallonia was around 900 euros. The consumer organisation advises keeping a fixed contract from March or earlier and not simply accepting a renewal offer. According to RTBF, a fixed contract protects against further increases, and anyone who still wants to switch can fairly easily return to a variable contract if prices fall durably.