Is it time to lower my gas advance? Money expert Paul D’Hoore answers most frequently asked questions about falling gas prices | Energy prices

‘Is it a good time to reduce my advance with my gas supplier?’: it is one of the most frequently asked questions now that the price of gas has fallen back to pre-war levels. According to money expert Paul D’Hoore, it’s not a bad idea. “The peaks are gone, so if you pay too much in advance, you could gradually consider that,” he said at VTM News. However, the money expert emphasizes that there is no great rush yet.

According to D’Hoore, people can wait “a month or two”, more precisely until the end of winter, to reduce their advance. “Then we have a real insight into the stability of prices,” it sounds. “But you can already consider it if you think your advance is too high and you have trouble paying it,” says the expert.

According to D’Hoore, whether the gas price will fall further depends on two things. First of all, we have to wait and see how hard the winter will be in Europe, although it seems that it will not be too bad for the time being. Secondly, the war situation in Ukraine also has a strong influence on the gas price. D’Hoore dares to cautiously say that the worst is over. The money expert therefore expects that a slight fall in the gas price is still possible in the future. “But we should not expect to return to the prices of four or five years ago,” he emphasizes.

Will the price of electricity also fall?

According to D’Hoore, we will continue to pay a lot for electricity for the time being. “The price of electricity is still determined in the same way as before: the last megawatt hour needed to provide electricity for everyone determines what is paid for the totality,” he explains.

“Since we need gas-fired power stations for sufficient electricity, we pay the price of electricity produced with a gas-fired power station,” said the expert. “So as long as we need gas-fired power plants, we will continue to pay high electricity prices,” it sounds.

LOOK. The full conversation with money expert Paul D’Hoore:

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