Austrian households had to spend significantly more on energy in February. Household energy prices were 27.4 percent higher than in the previous year, according to the energy price index of the Austrian Energy Agency. Gas, petrol and heating oil were the main price drivers. All other energy sources were also more expensive. In the case of electricity, households are affected differently by the price increases, the emergency measures have a firm cushion, according to the Energy Agency.
Household energy prices rose by 6.6 percent compared to January, according to the Energy Price Index (EPI), calculated by the Energy Agency. Inflation was 5.9 percent in February compared to the same month last year and 1.3 percent month-on-month. “Energy prices therefore remain the main price driver,” says Franz Angerer, director of the Energy Agency.
Energy is an important input factor in production and services. “As energy becomes more expensive, so will the prices of important goods – this effect is now gradually reaching Austrian households. According to the energy agency, people who depend on a car with a combustion engine or who live in poorly insulated houses and apartments with inefficient heating systems are particularly affected. living, affected by the high prices.
Gas with largest price increase
The strongest price increase was in February for gas with an increase of 65.3 percent compared to February last year. Compared to January 2022, natural gas cost 20.9 percent more.
Diesel was 30.7 percent more expensive in February than a year earlier and 3.7 percent more expensive than in January. The price of premium gasoline was 27.7 percent higher year-on-year and 3.6 percent higher monthly. A 50 liter tank of diesel costs about 17 euros more than in February 2021, with premium petrol the additional costs were around 16 euros.
Fuel oil prices rose 48.9% year-on-year. A typical tank filling of 3000 liters cost almost 1000 euros more than in February of the previous year. Compared to January 2022, heating oil prices rose by 9.7 percent.
Huge price differences in electricity
Electricity was 14.9 percent more expensive than in February 2021 and 8.6 percent more expensive than in January 2022. There are, however, relaxations for electricity by abolishing the green energy subsidy and lowering the energy tax.
The picture is differentiated: “Never before have the different customer groups been affected so differently by price increases,” emphasizes Karina Knaus, head of the Center for Economy, Consumers and Prices at the Energy Agency. Customers who need to re-contract or whose price guarantee has expired are sometimes affected by huge additional costs, and the price increases are also very noticeable for floater contracts linked to wholesale prices. For customers with existing contracts, the earlier measures “would result in an average family savings of 150 euros this year compared to the previous year. Our analysis of electricity costs for local providers shows that this significantly dampens price increases for customers with existing contracts.”
Firewood also became more expensive
District heating was 12.2 percent more expensive than a year earlier. The price of wood pellets increased by 15.5 percent, firewood by 10.6 percent. Compared to the previous month of January, the price for district heating was unchanged, with pellets and firewood each increasing by 0.9 percent.
Source: Krone
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