Electricity and gas prices are falling: This is how millions of households will save from January!

Electricity and gas prices are falling: This is how millions of households will save from January!

In Cologne there is good news for all households that receive their energy from the basic supply. From January 2025, the prices for electricity and gas will fall for many consumers, which represents a real ray of hope in the current price situation.

Rheinenergie has announced that electricity prices will be reduced by a whopping 12% to 31.48 cents per kWh. This reduction is made possible by lower procurement costs and government subsidies. The situation is similar with gas: Here Rheinenergie reduces prices by 8% to 12.34 cents per kWh. Many households in Cologne will benefit from this, after all, a quarter of citizens receive electricity on the basic supply tariff and around 20% on gas.

According to an analysis by the comparison portal Verivox, there are a total of 113 price reductions for electricity tariffs, which fall by an average of 9%. With an annual consumption of 4,000 kWh, this results in savings of around 161 euros per year. In total, around 2.2 million households in Germany can look forward to these price reductions, even if not all consumers benefit from the cost reductions. This is because electricity grid fees are not falling everywhere.

Price reduction details

The cuts don't just affect electricity prices. There is also good news when it comes to gas prices: 69 price reductions have been registered, decreasing by an average of 7%. This benefits around 700,000 households, which can save around 183 euros per year on heating costs with an annual consumption of 20,000 kWh. What is interesting is that despite the price cuts, some increases were also announced. A total of ten suppliers have announced price increases of an average of 6%. Particularly noteworthy is MVV in Mannheim, which is reducing its electricity prices by almost 11% to 34.82 cents per kWh.

Basic care is particularly important during this time. It applies to households that have not concluded a special contract with their provider. There are around 800 electricity and 700 gas basic suppliers nationwide. Price changes must be announced at least six weeks in advance. A timely termination of the basic service contracts is possible within two weeks, which gives consumers the flexibility to look for a better tariff if necessary.

The reduction in energy prices is a welcome relief for the many affected households in Cologne. It remains to be hoped that this trend will continue in the future and that citizens will not only benefit from short-term price reductions, but can also expect lower energy costs in the long term.