It should be the “largest energy reform in two decades” – Subscribers from Krone+ Wissen for a few days. The federal government has now announced the agreement for the first steps. She promises: “more honesty, less bureaucracy and cheaper electricity”.
“With the New Electricity Industry Act (ELWG) the largest energy reform is launched for two decades,” said the federal chancellery.
The legislative package entails clear rules, which means, among other things: “If wholesale prices fall, the providers will have to pass this legally to customers in the future,” the federal government assures. The goal is to lower network costs. Households and companies would get more options for directly generating, sharing or acting.
“Energy Crisism Mechanism” at exorbitant price increases
A legal “energy crisism mechanism” will be developed to prevent exorbitant price increases in crisis situations. “We have agreed to withstand a fundamental reform of the Austrian energy sector. We will modernize the energy market in such a way that energy prices become more affordable – both for private households and companies,” said Chancellor Christian Stocker (ÖVP) in a broadcast.
VICE Chancellor Andreas Babler (Spö) emphasized that inflation in the residential and energy sector had charged the Austrians for far too long. “With the rental price stop we have established a first measure to stop inflation and therefore relieve 2.7 million tenants in Austria. The next step is a large electricity storm to lower prices in the energy sector and therefore to achieve relaxation for the total economy and all people in Austria,” Babler said.
It was said from Foreign Minister Beate Meinl Reisinger (Neos) that “this first reform step in collaboration with the federal states, cities and municipalities literally brings fresh energy for the economic and labor location of Austria”.
Energy prices increased by 1.3 percent in May
To classify: according to Statistics Austria, the inflation rate for May 2025 is expected to be 3.0 percent, after 3.1 percent in April of this year. Price drivers were still the services, here the plus was 4.4 percent every year. The increase in energy prices was 1.3 percent, because the fuel prices, which were considerably cheaper in the year, were largely compensated for the effects of increased electricity prices.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
