The so-called ‘electricity price brake’ will expire at the end of this year and at the same time the network operators will increase the network rates for electricity by an average of 23.1 percent and for gas by 16.6 percent. Household energy bills can increase by several hundred euros per year.
The Austrian Association of Pensioners is now calling for a quick solution. Specifically, he suggests that energy companies that make high profits should also be more accountable and not make consumers pay for everything.
On to the brakes on the electricity price
“The subsidies intended to soften the enormous price increases for electricity and gas for consumers will expire at the end of 2024: the electricity price ceiling, but also the reduction in taxes on electricity and natural gas. In addition, the renewable subsidy contribution and the renewable subsidy lump sum that have been suspended for the years 2022, 2023 and 2024 will be in force again. All this could – if politicians do not intervene quickly – lead to a real explosion in household energy costs,” emphasizes Peter Kostelka, chairman of the Austrian Association of Pensioners, which is closely linked to the SPÖ.
Also hold energy companies accountable
Given the millions of profits that energy companies make – according to official figures, energy suppliers made a combined profit of more than four billion euros last year – according to Kostelka, it should also be discussed whether such an increase in network rates should not be based on the profits of the energy companies. that ultimately have to be generated by the consumer, you have to pay for yourself. Kostelka: “Regardless of whether it concerns the ‘old’ or the new federal government – action must be taken quickly. A solution is needed so that Austrian households are not confronted with terribly high energy bills in 2025!”
Changing providers is only possible online – which excludes many people
Kostelka is also critical of the following issue: energy experts currently advise households to compare individual electricity and gas prices or rates and, if necessary, change energy suppliers. This is communicated as “it’s very easy”. “But that is not the case, because rate comparisons and switching providers are de facto only possible online on comparison portals or via the e-control website,” Kostelka criticizes, “because there are a lot of people here again – including many older people who mainly complaining about the high prices – being excluded.”
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.
