The unstoppable explosion in energy prices is worrying the domestic economy more every day. “It just happens, we don’t have time to just watch!” emphasizes Doris Hummer, president of the Upper Austrian Chamber of Commerce. She calls on Austrian politicians to act quickly: “We need a price law for electricity!”
Doris Hummer is constantly on the go these days, listening to the operations. “I notice: Panic is increasing, more and more companies are concerned that this is no longer possible!” The daily explosion of energy prices will soon become unmanageable.
The first sectors inhibit production
“We now have a tenfold increase in costs, creating a situation that threatens the very survival of businesses,” says Hummer. The first consequences are occurring, for example brick manufacturers or the paper industry are already reducing their production. “We must take countermeasures – now!” Hummer exclaims.
EU regulation too slow
The fact that the price of electricity has been decoupled from the manufacturer’s costs is no longer acceptable. She calls on politicians to quickly put forward a national solution: “A price law for electricity.” A national electricity price model should be effective as a temporary solution until the EU suspends the so-called “merit order rule”.
Broken down to the essentials, this means “Merit–To orderprinciple”: The most expensive gas-fired power plant determines the electricity price. Experience shows that an EU solution, which also requires a uniform decision from all countries, will take time.
Politicians must finally act!
A national settlement, on the other hand, could get a two-thirds majority in the National Council in a short time, if the will of the politicians is there. Hummer also calls for the VAT on energy to be halved from 20 to 10 percent, Germany has shown the way. And the right to supply gas must not only be guaranteed to households, but also to companies: “Specific regulations are still pending, time is ticking!”
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
