monenergie.beOn social media, several consumers are expressing their dissatisfaction with the absurdly high down payment amounts that their energy suppliers are offering them. Is this frustration justified? Below, Monenergie.be explains how you can calculate an appropriate down payment yourself.
In collaboration with Monenergie.be
Why do energy suppliers offer a higher down payment amount?
During the past year, annual bills for electricity and natural gas have increased by more than 3,600 euros on average. Those who had concluded a new variable rate contract 1 year ago and have not adapted their down payment amount, must pay a very high final invoice at the end of the contractual period. A higher down payment therefore protects consumers against an almost unaffordable final settlement.
Also read: How to avoid unpleasant surprises with a variable energy tariff?
Should you follow the advice of your energy supplier?
From a legal point of view, you are not obliged to follow your supplier’s proposal. Energy suppliers are not allowed to increase advance bills without the agreement of their customers. However, in the case of a realistic estimate, we advise you to increase the amount of your deposit. This allows you to spread your energy costs throughout the year to avoid unpleasant surprises later.
Currently, some suppliers offer their customers a monthly installment invoice of more than 1,000 euros. Is it really possible?
Of course, this largely depends on your exact consumption. If your down payment seems absurdly high, you give your energy supplier a loan of sorts. Previously, State Secretary for Budget and Consumer Protection Eva de Bleecker (Open VLD) had indicated that in some cases it is smart not to follow the proposal. “Some energy providers are increasing their installments so much that it looks like the increase in the installment is greater than the increase in the market. This could indicate that the company is trying to strengthen its own cash position at the expense of consumers,” she said.
How can you determine a realistic down payment amount yourself?
Customers with a digital meter can track their consumption on the Fluvius user portal. Now, several energy providers also allow you to monitor your energy costs in their app. Thus, you can see if your invoice is higher or lower than the sum of the amounts of your installments. Owners of analog meters can manually enter their consumption data into their supplier’s customer area. If you want to know exactly your current energy costs and are not afraid of calculations, you can multiply your monthly consumption by the variable prices applicable at that time. You will find this information on the tariff sheet of your energy supplier. View your energy supplier’s tariff sheet.
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This article is brought to you by our partner Monenergie. Monenergie.be is an independent comparator of electricity and gas prices.
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