Bad news for all Tyrolean gas customers: the natural gas supplier TIGAS is going to increase prices enormously from 1 July. The price of raw energy according to the general terms and conditions of delivery increases for existing customers from 5.85 gross to 15.05 gross per kilowatt hour!
“The high purchase costs of the previous year, sometimes more than 300 euros per megawatt hour, will eventually hit the end consumer, especially since we do not have our own generation,” said TIGAS director Martin Grubhofer on Friday. As the only supplier in Tyrol, “prices for customers have remained stable over the past twelve months, despite higher purchase prices and the purchase of an additional gas storage as a strategic reserve.”
Promotional bonus for limited time
While there was a reduction in network costs (-10 percent), the pure working price according to the general terms of delivery for existing customers increased from 4.88 net (5.85 gross) to 12.54 cents net (15.05 gross) per kilowatt hours.
However, TIGAS is offering “a temporary promotional bonus” of 2.6 cents net (3.12 gross) per kilowatt-hour, matching the “price increase originally expected to be even higher by about 25 percent to a working price of 9.94 cents net (gross 11.93 cents).” For a household with an annual consumption of 10,000 kWh, this means an extra monthly charge of around 51 euros (gross).
“Consumption was below expectations last winter. Because of this, excess quantities were sold in the market and this promotional bonus was made possible. Market developments will also be closely monitored in the coming months, so that further relief can be passed on to customers as quickly as possible.”
Only next year relaxation on the market
Incidentally, the new rate is also offered to the nearly 2,000 new customers who have switched to TIGAS after their contract has ended. Easing in the gas market is not expected until 2024.
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.
