The list of the 10 cheapest companies (August 2022)

The list of the 10 cheapest companies (August 2022)

I have postponed the publication of this article with the TOP 10 of the cheapest gas companies until the last day of August, because I wanted to give you more information about the tsunami that comes with the increases announced by EDP, GALP and others. On the other hand, we already know that there is a solution, namely to switch to the regulated gas market as of 1 October. I’ll tell you what I know so far, which isn’t much.

Point 1: Yes, you are right to be concerned. The increase announced by EDP is 150%! It means if you do nothing, your gas bill will triple and the cold is coming. I know people who pay 200 euros for gas for heating and who, if they don’t leave EDP, pay 600 euros for gas per month. So, my friends, no budget can handle it.

Point 2: There are companies that give discounts for having electricity and gas and that do not or only slightly increase the prices. There are specific situations where it still pays to stay in or switch to these companies before entering the regulated market. It does the math, like the other said.

Point 3: If you don’t know how to calculate and this is all a complication for you, don’t hesitate and SWITCH TO THE REGULATED as soon as you know how to do it. And how is this done? WE DO NOT KNOW YET.

I write in capital letters so you don’t worry. Calm! The law must be passed, then the ERSE must be heard, then the traders must be heard, and only then will consumers be given information on how to transfer their contract to the regulated market. I can already tell you that you will get one of the 12 companies spread across the country. In Lisbon it will be Lisboa Gás, in other regions it will be Transgás, Lusitânia Gás, Beira Gás, Tagus Gás, EDP Gás, Diana Gás, etc.

I suppose – just like with electricity – there will be a page where you enter your zip code and fill in your most recent gas bill details, fill out a new contract and that’s it. This new company, from this list of 12, will take care of everything. You don’t need to do anything.

Point 4: I foresee a flood of requests to enter the regulated market on the first day this is possible. And I also foresee a huge list of doubts from people who don’t know what to do and how to do it. As for me, if you would be so kind as to follow the blog, I will try to answer all these questions as soon as I know and can. But I want you NOW to look closely at the price of your kWh on your bill, compare it with the TOP 10 of this month and next, to know if you are “good” or “bad”, realizing that with EDP you or with GALP, it is virtually certain that in order to save (a lot of) money you should switch to the regulated market as soon as possible.

In short, what I am telling you is that you should pay attention to the news (and here the blog) during the month of September and what to do as soon as possible in early October. If you let a week or 15 days go by, if you change the contract, a third or half of the month will still be at the terrible prices being predicted. It is one of those cases where laziness will cost you a lot. Move yourself! If you don’t know how to do it, don’t rest until you find someone who can help you make the change.

With these warnings done, which I hope will be helpful, we’re going to turn to gas prices in August.

August news in gas

GoldEnergy was the only company in the top 10 to lower its price instead of increasing it. All others have maintained or increased prices.

Every month I make this TOP 10 of the cheapest gas companies in Portugal. I started it at the request of many of you, after you saw that I was making a monthly comparison with electricity prices.

What I predicted last month has come true: because of the war in Ukraine, gas prices are really going up. It was unaffordable for companies to buy gas more expensive than what they sell.

I must warn you that while the data I present to you is rigorous (the source is ERSE), gas has many more variants than electricity. For example, prices depend on your zip code. And there are companies that supply gas in your city or neighborhood and others that don’t. And it has different prices according to the consumption level (mine is the 2nd). Therefore, if you accept my criteria (this Top 10 is the result of the research I do in the ERSE simulator with my personal data), you can use them as a reference, but you will always have to confirm them with your specific data. The results can be very different.

My goal with this equation is for you to look at your gas bill (as you do with electricity) and understand if it’s time to change companies or if you’re still doing well.

I do not have a relationship with any company and publish the results that the ERSE simulator gives me, whatever they may be. I hope this information is useful to you every month.

My Top 10 Criteria

To do the math, I used Level 2 and a zip code for the Greater Lisbon region. I have an estimated monthly consumption of 300 kWh of gas and in the simulator I have set “Lowest supply from the supplier” as the only criterion.

Gas | the graph

The main conclusion I draw in August is that only GoldEnergy has lowered the price for new contracts. Everyone else maintained or increased gas prices. I don’t know until when. I’m looking forward to the October chart. That’s where the debacle will be.

The blue line (the lowest price of all) is the regulated rate that ERSE underlines that cannot subscribe to new contracts. Only from October. And even this one is up 3.9%.

Gas | The top 10

So, taking into account all the above limitations, the ranking of the 10 cheapest gas suppliers (for new contracts) on the day I did the research (August 30, 2022) is as follows (prices do not include VAT):

As you can see in the month-on-month evolution in the table below, GoldEnergy replaced EDP Comercial and the others were in the same positions on the podium despite a few hits in 100th place.

Please note that these values ​​do not take into account additional discounts, promotions or “friend codes”. In other words, you have to see if there are better alternatives on the market that compensate for the more expensive rate, but at the end of each month you win thanks to these conditioned offers. In some cases it is worth paying more for the kWh, but in the end you will get a bigger net discount. But what really counts is how much comes out of your bank account each month. Do your math.