The consumer rates of the three largest energy companies in the Netherlands – Eneco, Essent and Vattenfall – are not unreasonable. This is the conclusion of the Netherlands Authority for Consumers and Markets (ACM) published on Wednesday research. The profit on the tariffs, between 0 and 5 percent, is no higher for the three companies than in previous years. At the beginning of February, ACM announced that it would investigate the tariffs of the three companies.
There are two reasons for the fact that energy companies did not make more profit on the tariffs, despite the increased gas and energy prices. The organizations have to pay higher purchasing costs for gas and electricity and they spend more money on insurance against risks in the ‘tumultuous energy market’. The feeling among consumers that they are paying too much may also be due to the fact that suppliers buy gas and electricity at least a month in advance on the wholesale market. When wholesale prices fall, consumers only notice at least a month later that they too have to pay less.
For the purpose of the investigation, ACM visited the head offices of Eneco, Essent and Vattenfall and looked ‘in the books and systems’ there. Experts examined, among other things, company documents about the purchasing strategy and setting the rates. The regulator was not allowed to investigate the level of prices on the international wholesale market. ACM has announced that it will also investigate the tariffs of other major suppliers in the coming months.