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Energy costs for consumers drop sharply in the Corona crisis

Heating oil and petrol are cheaper than a year ago. One reason for this is the sharp drop in the price of crude oil, which is partly due to the Corona crisis. In contrast, electricity has become somewhat more expensive.

Consumers are currently paying significantly lower energy costs than a year ago: The average total costs for heating, electricity and fuel in March were six percent lower than in the same month last year, as the comparison portal Verivox announced on Wednesday. For a model household with three people, Verivox calculated a cost decrease of 226 euros.

Energy costs fell by a good five percent from February to March alone with the fall in prices on the raw material markets. “It’s the biggest drop we’ve seen on a monthly basis,” said Verivox energy expert Valerian Vogel. Heating oil was 29 percent cheaper in March and gas 4.4 percent cheaper than in the previous year.

Electricity prices rose slightly

The costs for petrol (minus 5.5 percent) and diesel (minus 8.8 percent) also fell significantly, although not in parallel with the price of crude oil. But “the actual load when refueling is likely to be even lower,” said Verivox, because many commuters are currently working at home.

Consumers only have to pay more for electricity than a year ago: the average electricity costs of a private household with an annual consumption of 4,000 kilowatt hours have risen from EUR 1,177 to EUR 1,206 over the year, the comparison portal calculated. That is an increase of 2.5 percent.

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