Households already had to pay an average of 60 percent more for gas this year. By 2023, there is a risk that prices will double or even triple.
Bad news for the more than 900,000 households in Austria that heat with gas. The war in Ukraine and the associated lower gas volumes for Europe from Russia are pushing up the price. In wholesale this is more than sixfold compared to the previous year (chart below). Consumer prices are still lagging behind with an average increase of 60 percent.
According to E-Control expert Carola Millgramm, there are two reasons for this: On the one hand, suppliers would buy gas one to two years in advance and in 2020/21 prices were even lower. On the other hand, customers often have price guarantees. As these two “advantages” gradually disappear, there is a risk of a price explosion.
Doubling, tripling
Agenda Austria expert Marcell Göttert expects costs to double by 2023. In Germany, where the ‘alert level’ was last announced, the Bundeswehr Agency even thinks a threefold increase is possible.
How much it eventually goes up is open. However, it is certain that it will become even more expensive. All experts agree that more aid is needed for the poor. “No one should freeze,” emphasizes Göttert. The energy expert expects that the situation will only ease in 2024.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
