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‘Shop around’: Danish agency as electricity prices climb 18 percent in three months

A Danish watchdog has encouraged electricity customers to look for deals that could save them money after recording a steep upswing in prices.

electric meter
Electricity bills have gone up by an average of 18 percent since late last year, according to a Danish watchdog. Photo: Kristian Djurhuus/Ritzau Scanpix

The Danish Supply Agency published figures on Friday demonstrating the sharp increase in electricity costs across the country.

The price of electricity has climbed 18 percent from the last quarter of 2021 to the first of 2022, according to the Danish Supply Agency (Forsyningstilsynet), a watchdog which works to ensure consumers do not overpay for essential goods like electricity.

The price hike translates to about 1,953 kroner annually for the average customer, the agency stated. 

As such, the agency said it’s a good time for residents of Denmark to re-evaluate their electricity plan and provider.

Danish residents can check their options by inputting their postal code and approximate energy consumption at elpris.dk

Recent months have seen both households and companies in Denmark suffer from drastic increases in the price of electricity.

But the Supply Agency’s director, Carsten Smidt, said that the high prices can mean larger savings can be made by customers willing to shop around.

“It’s not necessarily the same electricity products that all customers will have the most benefits from,” Smidt said in a press statement.

“This may depend upon things like the amount of electricity you use, or with you want a fixed or variable price,” he said.

“All available products can be seen and compared on the elpris.dk portal,” he added.

Smidt also said that further savings on electricity can be made by planning when to use appliances throughout the day.

“The ability to get a cheaper electricity bill is not only dependent on which electricity product and supplier you chose,” he said.

“The amount of electricity that is consumed is also crucial for the size of the bill, and the time of day or week you use your electricity is also important,” he said.

Measures like using dishwashers at night, when prices are off peak, can therefore help to reduce bills, depending on the package customers have.

Several factors are behind the upward trend in the price of electricity, but the primary reason is the cost of natural gas, which has multiplied since late 2021. That has resulted in higher overheads for electricity suppliers.

Increasing electricity prices have caused inflation in Denmark, with food prices increasing at a rate not seen since the 1980s.

READ ALSO: Food and energy prices rocket as Danish inflation hits 40-year high

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ENERGY

Denmark and three other EU nations want to increase North Sea wind power tenfold by 2050

EU members Germany, Denmark, the Netherlands and Belgium on Wednesday said they wanted to increase their North Sea wind power capacity tenfold by 2050 to help the bloc achieve its climate goals and avoid Russian hydrocarbons.

Denmark and three other EU nations want to increase North Sea wind power tenfold by 2050

Danish Prime Minister Mette Frederiksen said the plan would mean the four countries would “deliver more than half of all offshore wind needed to reach climate neutrality in the European Union”.

The increase would make the North Sea “the green power plant of Europe”, she told a news conference in the port of Esbjerg in western Denmark.

“Setting a vision is not enough, we will make it happen,” Frederiksen added, flanked by German Chancellor Olaf Scholz, EU chief Ursula von der Leyen, Dutch premier Mark Rutte and Belgian leader Alexander De Croo.

The countries’ goal is to raise wind power capacity fourfold to 65 gigawatts by 2030 and then tenfold to almost 150 gigawatts by 2050.

They said 150 gigawatts of offshore wind power would supply 230 million homes with electricity.

Such a capacity would amount to 15,000-20,000 wind turbines, based on the most powerful ones currently on the market.

The announcement comes as the European Commission presented a plan to accelerate the development of renewable energy worth 210 billion euros ($220 billion) to reduce the bloc’s dependence on Russian gas as quickly as possible.

The European Union has already said it will end imports of Russian coal by August.

An embargo on Russian oil as part of a sixth sanctions package against Moscow for its invasion of Ukraine is proving more contentious after Hungary raised objections.

The commission has said it wants to reduce purchases of Russian gas by two-thirds this year and completely before 2030.

On Wednesday it proposed to increase the proportion of renewable energies in the bloc’s energy mix from 40 percent to 45 percent by 2030.

The 27-nation EU aims to reduce greenhouse gas emissions by at least 55 percent by 2030 and achieve carbon neutrality by 2050.

READ ALSO: Danish offshore wind could help Europe ditch fossil fuels

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