Dutch homes to save hundreds on energy bills

Due to electricity and gas prices dropping 10 to 20 percent, Dutch homes may soon see a decrease in their energy bills of between 66 and 132 euros per year, the Telegraaf reports. According to analysts from energy company Nuon, the decrease in the costs of coal, electricity and gas are structural. And the price that energy companies are currently paying for contracts for 2017 and 2018 are at the lowest point of this decade. Figures from the Amsterdam Power Exchange show that compared to January, the current electricity prices have fallen by about 10 percent. According to the Telegraaf, contracts that energy companies are signing for the next 3 years are even up to 20 percent cheaper. Based on the newspaper's own calculations, and if these decreases are indeed structural as Nuon expects, this could mean a reduction of between 60 to 120 euros annually in an average household's energy bill. In a reaction Nuon told the newspaper that they can not yet say whether the price reduction also apply to consumers. The low prices energy companies are currently paying for contracts can largely be attributed to the fact that the prices for gas and coal - the main raw materials used for generating electricity - continue to fall in the world market. Another factor is that an increasing amount of wind and solar energy is available.