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A “dynamic” electricity price: the major energy suppliers will soon be able to offer a new offer to their customers!

  • Post category:Economy News
  • Reading time:3 mins read

A bill to this effect, carried by the Minister of Energy Tinne Van der Straeten was adopted Thursday in plenary session of the House.

With a dynamic tariff, the price is continuously adjusted to the market price at that time, so consumers can consciously choose to consume electricity during off-peak hours when it is cheaper.

Tinne Van der Straeten’s bill transposes into Belgian law a European directive “concerning common rules for the internal electricity market”. This includes greater flexibility in the market to adapt to the growing number of wind turbines, solar panels and storage systems. In addition, it will be easier for citizens to become co-owners of a wind turbine, and the notice period for changing energy supplier will be reduced from one month to three weeks.

One of the most significant changes is the obligation for energy suppliers to offer a dynamic electricity price. This means that the price, usually hourly, moves in real time with supply and demand in the market. Consumers can thus benefit from lower prices if they consume outside peak hours.

The obligation will only apply to large energy suppliers with more than 200,000 customers. The device will only be accessible to households with a digital meter.

The text was approved by the majority, joined by Les Engagés and DéFI. The PTB voted against. The N-VA and the Vlaams Belang abstained.