In winter temperatures, the Austrians’ heating systems run at full speed. But many households still have electricity and gas contracts that are too expensive and pay more than is actually necessary. The way out: changing energy supplier, that is now worth it again. How it works and what to look out for: we have the information!
Wholesale electricity and gas prices peaked about fourteen months ago. As a result, many households had to ‘swallow’ higher energy prices or were canceled by cheap providers. Fortunately, prices have gone downhill again since then.
“After the rollercoaster ride during the energy crisis, the electricity and gas markets have calmed down somewhat over the course of 2023. At the beginning of 2024, we will again see prices on the wholesale markets that were already there before the crisis,” explains E-Control board member Wolfgang Urbantschitsch.
For whom a change is particularly worthwhile
These price reductions only reach consumers with a delay, but on average they are still below the level of the previous year. For households, this means that it is worth switching suppliers again. “Especially if you had to conclude a contract at maximum prices during the crisis,” Urbantschitsch emphasizes.
In concrete terms, the savings potential for an average household is up to around 580 euros for electricity and for gas this can even amount to 1200 euros per year, depending on the region. And this is how it goes:
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.
