Noticeable decline: Domestic energy prices fell in September

This means that the average energy costs per household have been declining continuously for a year. However, energy was still 29.3 percent more expensive than before the energy crisis.

Experts: “Still high compared to pre-crisis levels”
According to the Austrian Energy Agency, slightly lower energy prices in September this year – especially for fuels – continued to have a dampening effect on overall inflation. “However, compared to pre-crisis levels, prices remain high,” the experts admitted. In concrete terms, the costs are still 29.3 percent higher than in September 2021. And the support measures will no longer apply around the turn of the year.

Electricity prices rose
Heating oil and fuel prices have fallen significantly compared to the same month last year. Natural gas, firewood and pellets were also considerably cheaper in September this year. However, electricity prices have increased.

In detail: In September 2024, prices for premium gasoline fell by 4.3 percent compared to the previous month, while diesel became 3.8 percent cheaper. Year-on-year, the decline for diesel was 13.9 percent and for premium gasoline 11.7 percent – ​​​​a tank full of diesel (50 liters) cost twelve euros less than a year earlier, and for premium gasoline ten euros. “Falling fuel prices are partly the result of lower demand from China and Europe,” the energy agency said.

In September you had to pay four percent less for heating oil than in the previous month of August and 17.4 percent less than a year earlier, but still 44.9 percent more than in September 2021. House prices for gas have recently fallen compared to August. 1.9 percent, compared to the previous year it was “a significant 26 percent”. However, gas was still 120.2 percent more expensive than in September 2021.

Electricity, in turn, became more expensive compared to all comparable periods: by 0.1 percent compared to the previous month, by 5.9 percent compared to the same month last year and by 10.4 percent compared to pre-crisis levels in September 2021.

Wood pellets are also more expensive than before the energy crisis
The price of wood pellets fell by one percent in September compared to the previous month and by 22.6 percent compared to the same month last year. That was almost a quarter (24.6 percent) more than in September 2021 before the energy crisis. Firewood was 1.3 percent cheaper in September this year than the month before and 12.6 percent cheaper than the same month last year – it cost 44.9 percent more than in September three years ago.

District heating prices in turn rose by 1.4 percent on a monthly basis in September, but fell by 10.1 percent on an annual basis, making them more than 77.4 percent above pre-energy crisis levels.

According to the energy agency, the latest geopolitical developments have once again led to slightly increasing wholesale prices for natural gas, which also had an impact on the electricity market. Customers with variable delivery contracts may have already noticed these changes on their invoices. “However, this short-term development is overshadowed by an overarching trend of falling prices.”

Comparing electricity rates can reduce costs
Data from various sources indicated “that some Austrian households continue to purchase gas and electricity at high purchase prices – because contracts were concluded at times when energy prices were particularly high,” the energy agency said. Especially in the electricity sector, high costs could rise even further around the turn of the year, as the brake on electricity costs expires on December 31, 2024.

“Simply put, this measure currently limits the electricity price to ten cents per kWh – the difference is covered by the state.” An extension of this measure would not make sense from the perspective of the energy sector, according to energy agency expert Lukas Zwieb. Although the price ceiling provided short-term relief and protected the population from the extreme price effects, the market has now become more stable and cheap offers have returned across the country.

Comparison portals provide an overview
“It is important to know your own electricity costs, check them and consider alternative offers,” he recommended taking action now. You can switch providers in just a few steps and online via comparison portals such as the E-Control rate calculator.