The energy company Verbund has bad news for its customers on Monday: the electricity price for all existing customers will be increased to 28.68 cents per kilowatt hour (gross price). This is justified with higher acquisition costs. On the other hand, the company has good news for new customers: it is now slightly cheaper for them.
As of March 1, Verbund will increase the electricity price for existing household and business customers due to higher purchasing costs. According to Verbund, the electricity quantities of the end customer are purchased in advance on the basis of a long-term price hedge over a maximum period of 2 years in order to be able to offer the most stable prices possible. Prices have been reduced for new customers because price movements can be reacted to more quickly.
Verbund-Vertrieb also had to purchase electricity at market prices despite its own production within the group, the partially state-owned company reported in a press release on Monday.
For average existing customers with an annual electricity consumption of 3500 kilowatt hours (kWh), the price increase, taking into account the national electricity cost brake, means an additional monthly cost of 5 euros (including sales tax). The federal electricity price brake applies up to an annual consumption of 2900 kWh. With an annual purchase volume of less than 2900 kWh, the price increase does not lead to an increase in energy costs, which applies to more than half of the existing Verbund customers. About half of the energy bill consists of energy costs, the rest consists of network tariffs, taxes and levies.
Market prices on the European purchasing markets have risen sharply since the autumn. The purchasing costs of electricity for 2023 would have increased by more than 170 percent compared to 2022 and by more than 400 percent compared to 2021.
The energy price for customers with a standard consumption profile in the household segment rises to 23.9 cents per kWh net or 28.68 cents per kWh gross. The basic price increases by an average of 22 cents per month based on the increase in the consumer price index (CPI).
In the new customer segment, price movements can be reacted more quickly. The association mirrors wholesale prices, which are currently falling again from very high levels, with a rate reduction to 33 cents per kWh net or 39.6 cents per kWh gross – from the latter 41 cents net and 49.2 cents per kWh (gross) .
The association has set up an emergency fund of 10 million euros for customers particularly hard hit by the rising cost of living. Since 2009, the electricity fund of the Caritas association has been helping people in Austria who suffer from energy poverty. For 2023, the association has increased this support to Caritas to 5 million euros.
Source: Krone
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