Since the introduction of the electricity price brake, prices for new customers have fallen sharply. According to the online comparison portal “Durchblicker”, new contracts are offered from 26.5 cents per kilowatt hour (kWh). Before the brake on the electricity price, that was almost 40 cents per kWh.
For many households whose electricity consumption or kilowatt price is above the upper limits of the price brake, it may be worth thinking about switching suppliers again. According to “Durchblicker”, this concerns about a quarter of all households in Austria. The comparison portal refers to data provided by some 2,200 consumers between mid-2022 and January 2023 when the price alert was issued. The kilowatt price for existing customers should be between ten and 64 cents, depending on the provider and contract.
Pay attention to contractual obligations
If you want to change providers, pay attention not only to the price, but also to the contract. According to the comparison portal in a broadcast, during the term of the commitment it is not possible to benefit from further price decreases in the market. In addition, the still uncertain situation in the energy markets with variable tariffs must be taken into account. This means that the kilowatt price is directly linked to the prices on the wholesale markets.
The electricity price brake introduced on 1 December limits annual consumption to 2900 kWh at ten cents per kWh. However, anything above the 40-cent limit is no longer subsidized by the state.
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.
