Tyrolean state energy supplier Tiwag announced a reduction in electricity prices on Monday. From December 1, 2024, the labor price for existing customers will be reduced by two cents to 9.8 cents per kilowatt hour (kWh) net, according to a press release.
For an average household with an annual consumption of 3,500 kWh, this means a saving of around 84 euros per year, it was emphasized.
A price reduction was actually planned at the beginning of this year. This has now been brought forward after the purchase of the required electricity for 2025 has been completed. ‘The cost reduction achieved’ is passed on to ‘customers’ at an earlier stage.
The current 200,000 Tiwag customers will be personally contacted and informed in the coming days, the company said.
The company wants to invest billions
The company also announced that it wants to invest two billion euros in the coming years in expanding the infrastructure “to support the energy transition”.
“The prerequisite for raising the necessary funds is an economically successful and stable company that can manage these investments on its own with a high Tyrolean share of added value and can also offer the owner an appropriate dividend to fulfill its public duties” , said Chairman of the Supervisory Board Eduard Wallnöfer.
Source: Krone
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