While wholesale gas prices have fallen significantly recently, electricity prices are moving in the opposite direction. The Austrian electricity price index (ÖSPI) for February 2023 increased by 5.4 percent compared to January.
Compared to the previous year, this corresponds to an increase of 266.5 percent, the Austrian energy agency announced on Tuesday. Both the base load and the peak load price will increase by 5.4 percent. On an annual basis, the base load price increases by 256.0 percent and the peak load price by 292.7 percent.
Gas price reductions are not well received by customers
The situation on the gas markets has eased considerably recently. However, the consumer does not notice it. Current trading prices will only reach end customers in a few months, E-Control boss Wolfgang Urbantschitsch stated last week.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
