Today’s spot energy prices can financially ruin a normal household

Today’s spot energy prices can financially ruin a normal household
Today’s spot energy prices can financially ruin a normal household

Some of the business women even sell properties at spot prices without their knowledge. According to Stanislav Trvnek, the chairman of the Council of the Energy Regulatory Agency (ER), in their unfair practices, they mainly focus on seniors, who do not always know their way around tariffs and contracts.

and according to him, this year there were 900 cases of unauthorized transfer to the spot price. But in reality it is a matter of substantial damage. One event usually involves several orders, sometimes several thousand. Those are relatively high stakes, notes Trvnek.

Currently, according to Trvnek, around five percent of households operate on the principle of spot price determination of energy. According to him, the pressures from the supplier or intermediary of the supply of energy to the household on the spot product will coincide with the rise in the prices of electricity and gas.

However, as the price on the market increases and traders have a problem with taking electronics, they also have a problem with prices and they try to transfer orders to the spot price. agreed spot products.

Spot prices today will destroy the house

The spot, sometimes called dynamic energy prices, was not risky for the average household. This is especially so at a time when energy prices on the stock exchange are trading at historically high values.

Spot products work closely with current developments on the stock exchange. It should only be accessed by those consumers who are familiar with the functioning energy exchange and monitor the situation on a regular basis, warns Vladimr Weiss, financial advisor of the Partners group.

According to him, the household should definitely avoid the spot product. The price of gas or electricity has been increasing by hundreds of percent in a very short period of time in recent months.

A product listed on the stock exchange is included in the spot price practically immediately. In the current situation, spot products are therefore very suitable for energy suppliers. Collect the high margin and price pen to the end consumer, Weiss added.

This is also the reason why merchants repeatedly offer customers spot products. And some of them are on them even without their consent. Or hidden in addenda to existing contracts. The people of God, find out what they signed, and when their energy bills will skyrocket.

High failure as a warning

Exchange products or even products with a price according to the exchange, as they are, work on the basis of a price formula. The formula works with the price of energy on the immediate or spot market, or its average over a similar period. And kn pipot took polos.

Instead of a price with clear implications, the consumer can only rely on his own estimate of how stock market prices will develop. The supplier often only hears about a new deposit, but the increase can jump from month to month, experts explain.

Gabriela Vondruov, executive manager of the Institute of Prevention and one of her predecessors, agrees with this. According to him, the transfer of the house at the spot price for the current situation is literally hell for the house.

The current price of electronics on the spot market is 13 times the price traded two years ago. This means that those who paid in advance, for example, two thousand crowns per month, will now pay 26 thousand crowns per month with the spot tariff, warns.

For domestic households, such a price jump is unsustainable and liquidable. According to Vondruov, households should therefore be more concerned about their energy tariff in the current turbulent times.

And in the daytime, do not sign anything with the seller or conclude a contract over the phone. At the same time, they should look for their current consumption in crowns, household councils.

Some suppliers have special calculators on their websites. People enter their consumption in KWh and they get the current route. Those suppliers who do not provide such a service to customers should at least send the route manually, for example with the help of a call center employee. This way, you can find out not only the consumption, but also find out if you have agreed on a spot price.

What should I do if I don’t have a high level of composure

In a situation where the supplier requests the castle to include higher prices, about which the orderer did not inform clearly and in advance, he should first object to the incorrect procedure with the supplier himself. If the company does not recognize the error and does not fix the problem, then go to the complaint line.

If the supplier does not comply, he can defend himself through an out-of-court and consumer dispute on ER. First of all, a final verdict can be heard that the supplier has no claim on the price, explains in his recommendation ad.

According to experts, spot products are particularly dangerous for consumers when they are agreed upon for a certain period of time. Due to the fact that the contract price for a spot product is based on a formula that does not change even for healthcare, it is usually not possible to use the price as a reason for withdrawing from the contract without penalties, as is the case with standard products, explained the ER representatives.

If a consumer orders a spot product with a fixed-term contract, but later discovers that his home cannot bear the initial stock market fluctuations, he cannot leave, nor would he avoid a penalty for premature termination of the contract. The only exception is spot products that have not been negotiated. And those that the saleswoman arranged without sufficient explanation, in the principle of the spot product.

The customer will object to such a procedure and claim the invalidity of the contract, advice on how to cancel spot prices for energy, from ER.

The article is in Czech

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