Six days before Christmas, Energie AG’s more than 350,000 customers will receive something like an early gift: CEO Leonhard Schitter announced that the company is lowering the electricity price. This can save you up to 50 percent on your energy costs within a year.
The group’s turnover fell to 3.159 billion euros, while profit after tax rose to 316 million euros – and this good result, which mainly comes from its own electricity production in the hydropower sector, also allows Energie AG to increase electricity prices from April to be reduced by 2025. decrease. With the ‘Groene Stroom Loyaal’ tariff, the price screw is adjusted – this applies to existing customers, ‘but also to new customers’, says CEO Leonhard Schitter.
The measure makes you one of the cheapest providers in Austria, emphasizes Schitter, who presented the figures for the 2023/24 financial year together with Chief Technology Officer Alexander Kirchner and Chief Financial Officer Andreas Kolar on Friday morning. With 318.3 million euros, the Linz company invested more in one year than ever before.
“And we want to keep up the pace,” Kirchner emphasized. Postscript: “Every cent will flow into the energy transition.” In 2024/25, 572 million euros will be invested, including in the new construction of the Traunfall power station, in the photovoltaic agricultural system in Pischelsdorf and in the pumped storage power station. in Ebensee.
Sealing work is delaying the construction of the pumped storage power plant
Speaking of Ebensee: there is a delay of “a few months” (Kirchner’s original sound) in the construction work for the pumped storage power station. Because water penetrates around the cavern, in which the machine house is also located, sealing work must be carried out here. The power plant is expected to be put into operation in 2028. Previously, the start of work was always expected at the end of 2027.
The economic crisis is reflected in the demand for electricity and gas
Energie AG is also feeling the consequences of the crisis in the economy: according to Kolar, seven percent less electricity was consumed in the Upper Austrian company’s network in the last financial year compared to 2022/23, and gas demand fell by 12 percent. “In the long and medium term, the demand for electricity will increase,” says Schitter, “and we are also expanding the networks in Upper Austria. We want to be the driving force behind the energy transition here.”
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.
