The price of electricity is boiling over – so now there’s a lid on it. The Governor of Lower Austria Johanna Mikl-Leitner (ÖVP) reprimanded her party leader Karl Nehammer two weeks ago with the cover demand, now she is carrying it out herself. This sparks a discussion about how the expensive lid is financed.
Now – this time in consultation with the chancellor – Mikl-Leitner is implementing the discount on the electricity price. For 80 percent of average household consumption, there will be a reduction of eleven cents per kilowatt hour. The financing volume is 250 million euros. Treasury Secretary Magnus Brunner also states in an interview with “Standard” that the lid is coming.
Still thorny questions to clear up
However, there are still many questions to be answered. Especially a tricky one: how should this costly anti-inflation measure be financed? Mikl-Leitner will benefit from dividends from the Lower Austrian state investment holding company, which will be higher.
Are energy companies being asked to pay?
Brunner strongly rejects the SPÖ’s proposal to link the ceiling to an excessively high profit tax for energy companies. The Minister of Finance of the ÖVP thus joins the economic experts. Because a fine tax would send the wrong signal to the financial market and lead to price losses on the stock market.
SPÖ leader Pamela Rendi-Wagner states that according to her it is logical and above all fair to use half of the surplus profit to give people direct financial support and the other half to invest in the energy transition.
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.
