The great attention paid to the energy transition often ignores the way in which sustainable electricity flows from producers to consumers. Investments in network infrastructure can also lead to lower electricity prices.
“Kelag will invest three billion euros in the coming years. The money will flow not only to new sustainable power plants, but also to the network infrastructure,” said Kelag board member Reinhard Draxler at the start of the OVE energy technology conference in Klagenfurt. ‘That is 250 million euros annually, of which we invest more than 90 percent in Carinthia and Austria.’ These investments are also necessary to realize the energy transition and can also have a direct impact on our electricity prices.
Price difference due to weak network infrastructure
“This year, the costs for bottlenecks in the energy network already amount to 125 million euros. We pay all of these with the network costs,” emphasizes Gerhard Christiner, CEO of Austrian Power Grid. “If the grid is too weak, it will be disconnected from the European electricity market. As a result, there was a price difference with Germany last year of 2.6 cents per kilowatt hour.”
There is also a shortage of skilled workers in the energy sector
But it’s not just the technology that’s worrying the industry. “We have a shortage of about 2,000 skilled workers nationally. In Carinthia alone, for every 100 vacancies for energy technicians, there are only nine qualified job seekers,” says OVE President Kari Kapsch, describing the problem of skilled workers. “With ‘Join the Future’ we want to show young people through social media that they can actively solve the problems of the future themselves instead of just standing on the street.” However, it will probably take some time before this campaign takes hold – fruit last – the apprenticeship lasts three years if a 14-year-old starts now.
Energy sovereignty and market tranquility
For Reinhard Draxler, the energy transition and investments are not just about more stable energy prices. “The crisis of recent years has shown how dangerous it is to be particularly dependent on one form of energy. With a balanced mix we can achieve energy sovereignty and be less vulnerable,” Kelag’s board emphasizes. “No one can reliably predict how electricity prices will develop, but we see a calming on the market.”
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.
