It's a hot topic these days, energy prices. The energy market has been in a major upheaval in recent years. In the^4th quarter of last year, due to various causes, there was a sharp increase in prices. The biggest causes were gas shortages, an increase in global energy use and emission rights. But how exactly are these prices constructed? And how did this price increase come about? What is the forecast for 2023? Below we try to answer all these questions.

Construction of energy prices

To get an idea of exactly how this price increase came about, it is useful to know how energy prices are determined. First, we distinguish between fixed and variable prices. The variable ones depend on your energy consumption. The fixed prices are always reflected in your energy bill, regardless of your consumption.

Fixed energy prices

These types of energy prices can be divided into 2 parts.

• Fixed supply costs: These are the charges you pay annually to your energy supplier, regardless of your consumption.
• Grid management cost: This cost must be remitted to the grid operator. The energy supplier does this for you. These costs depend on region and everyone is required to pay them.

Variable energy prices

Prizes can be divided into 4 components.

• Variable supply costs: These are the costs you pay for the purchase of electricity and gas. The more you purchase, the higher these costs will be.
• Energy tax: This tax is paid by everyone for consumption of gas and electricity. It is there to encourage people to use gas and electricity more economically.
• Renewable Energy and Climate Transition (ODE) Storage: This is the levy on the use of natural gas and electricity. The proceeds of this levy are used to stimulate the production of renewable energy.
• You also pay 21% VAT on the total amount of your energy prices.

Increase in energy prices

Energy prices experienced a huge increase in recent years, especially in the last quarter of 2021. This was caused by several factors. 1 was the sharp economic recovery. During the corona crisis, energy consumption was very low. As the economy is now recovering, the demand for energy is also rising. Consequently, its prices are also rising.

Another determining factor that has had an impact is the shortage of gas. In 2020, we experienced a very cold winter which resulted in a very high consumption of gas. As a result, gas supplies could not be replenished enough in the summer. This shortage led to higher gas prices.

The^3rd major factor that has caused energy prices to rise is higher emission allowances. This makes the purchase price of energy a lot more expensive. The increased price is passed on directly to the consumer. With these various factors, it is difficult to say anything about the expectations for 2023. However, we can already look at developments that will affect these prices. Are you also curious about how to save costs?

Energy prices forecast 2023

What will happen to energy prices in 2023? That is the big question. Gas supplies are still not fully replenished. As a result, gas prices are going to remain as high next year as well. To still be able to keep producing, many companies in the energy sector are going to switch to other fuels. They opt for coal, oil but also renewable energy, among others. The demand for this will therefore grow considerably.

In other words, what energy prices will do in 2023 is still very unpredictable. All you can do now is think about how you can save in 2023 and thus not have to depend on energy prices. This can be done in several ways such as investing in renewable energy. But you can also switch to LED lighting or simply save on heating. In addition, you can also choose to generate power with solar panels or use less gas through insulation or a heat pump. Not sure where to start yet? Then be sure to ask for no-obligation advice from our experts.