Essent cuts variable electricity rate 35% by implementing feed-in costs for solar power

Essent is reducing its variable electricity rate by 35 percent. The new rate applies to almost 1 million households with a variable energy contract and takes effect on July 1. Customers without solar panels benefit the most. According to the energy company, the rate reduction is partly possible due to its introduction of feed-in costs on the excess production of generated solar power.

“With the introduction fo feed-in costs on the overproduction of solar power, we can offer our customers a much lower electricity rate. For customers without solar panels, the energy bill is now reduced by dozens of euros per month. That provides immediate relief and lowers the threshold to make a home more energy efficient,” said commercial director Boudewijn den Herder.

Essent said it was aware of solar panel owners' concerns and has looked at how the company can help them. Not only are more energy companies charging feed-in costs, but the new coalition also wants to scrap the netting scheme.

Essent is making a sustainability pot of about 500,000 euros available. Some customers can use it for a discount on a heat pump, others can participate in a trial with a home battery. According to Essent, customers will be approached personally about this in the near future.

The energy company stressed that installing solar panels is still worth it, also with feed-in costs. “It is a misconception that you no longer save money through feed-in costs on remaining solar power. Even now, solar panels pay for themselves in an average of eight years. After that, you can enjoy them for another 17 years, and it gives you an annual saving of an average of 600 euros,” said Den Herder. To limit the overproduction of solar energy as much as possible, Essent advises customers to match the number of solar panels on the roof to their own energy consumption.