After more than a year of negotiations, four lawsuits and the most recent (non-legally binding) verdict, Tyrolean state energy supplier Tiwag has now apparently given in to the electricity price dispute with the Chamber of Labor. “The last round of negotiations took place relatively quickly on Friday and the demands were fully met,” the AK cheers. What does this mean for Tiwag customers?
“They clearly completely underestimated the efforts of the AK Tirol and believed that they could bypass us,” AK President Erwin Zangerl emphasized in an initial statement. This would bring a positive end to a long and intensive legal dispute for customers.
“Electricity cost relief” of more than 60 million euros
According to AK, Tiwag customers will soon receive “electricity cost relief” of more than 60 million euros, as the state energy supplier will refund “the money collected due to non-legally compliant price increases.”
From June 1, 2021, electricity cost relief will be based on favorable labor prices. “This applies both to customers who remained under the old contracts and to those who switched to the new contract, but also to special rates such as the Völser Seesiedlung. For IKB customers, AK Tirol requires that IKB agree to the settlement in writing, otherwise further legal action will be taken,” the Chamber of Labor said.
The labor price will decrease from July
According to AK, from July 1, there will be a reduction in the labor price for all Tiwag customers to 11.8 cents net per kWh (also applies to the basic supply rate). But that is apparently not enough: “Tiwag issues a declaration of intent to reduce the labor price for all Tiwag customers to less than 10 cents net per kWh from January 1, 2025,” the AK continued.
The processing and reimbursement would be carried out by the state energy supplier from March 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.
