Budget energy company announces prices below national rate cap

Energy company Budget Energie is lowering its rate so that they are below the government’s price cap on energy. According to the company, it is the first energy supplier to offer new customers cheaper electricity and gas.

Budget Energie said it could do this because it buys its energy monthly, and prices are currently lower than the price ceiling set by the government.

New customers will be charged the lower rates immediately. Existing customers will not receive the new rates until March. Budget Energie said it purchases energy for customers a little in advance. In addition, customers must first get 30 days’ notice before their rates can be changed.

The prices for gas and electricity have been falling for some time now. If energy becomes cheaper than the government’s price ceiling, it will save the government a lot of money. The price cap could potentially cost billions of euros.