Consumers feel the high gas prices, of course, but it also affects the energy companies themselves. “The market is now in a train with an abyss on both sides. The longer prices remain high, the greater the chance that that train will drive into the abyss,” says an energy trader in the Netherlands. against the FD.
Partly due to Russia’s invasion of Ukraine, prices for gas, electricity and oil have risen enormously with large daily price movements. These ensure that companies that buy and sell energy run greater risks.
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Certainly companies that did not already have a lot of fat on their bones, are faced with liquidity problems.
helping out
The expectation is that the government will step in if a large energy company threatens to fail. In the Netherlands there are no immediate signs that this will happen in the short term. Even before the Ukraine war, a number of small companies went bankrupt.
This was because they had not concluded enough long-term contracts for their customers and therefore had to buy extra gas or electricity quickly. But that had to be done at a much higher price.
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If your energy supplier does fail, you don’t have to panic right away. You will not immediately be without gas or electricity. Then you will be transferred to another company. You have lost your prepaid amounts.
Consequences for you
Of course, energy prices also have major consequences for consumers. Households sometimes have to pay two or three times more when renewing their contract.
If your contract is about to expire, you should watch this video:
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