For an electricity product that cost 50 euros on the stock exchange two years ago, you had to deposit 1050 euros at the end of last week. Sooner or later, the high will also reach the end customer. Unless emergency measures come soon. The WIFO model is a variant. But higher earners won’t necessarily like it.
“If these prices solidify and everyone buys at these prices, then they’re going to reach the customer — regardless of whether it’s a big business, a trade, or a household. And I don’t think anyone would want to imagine that.” With these words, Stadtwerke Vice President Peter Weinelt drew attention to himself at the round table at ORF. “On Friday, the electricity product that cost $50 two years ago traded at $1,050 when the market closed,” he said.
Unacceptable disaster
An increase of 21x! If this surge actually reached the customer, the catastrophe would be perfect. Someone who paid 100 euros per month for electricity in 2020 would then have 2100 euros in energy costs. Even if the electricity exchange were to level off somewhat, one would have to take into account higher costs for energy than for rent.
“It will not come to that. Because a price increase of this magnitude is of course not reasonable for the customer”, WIFO industry economist Michael Böheim is convinced that political support measures will be taken soon.
Huge price increases already
Hopefully he is right, because customers already have to take a four to fivefold increase in the electricity work price compared to 2020. For many, this is no longer reasonable and yet a reality. The WIFO itself has developed a model that does not provide for a general price cap, but instead subsidizes energy quotas at a fixed price.
According to this, households – depending on the number of people they contain – would receive a certain energy quota at a reasonable price. For example, each 3-person household would receive X amount of energy subsidies, regardless of whether the family lives on 50 square meters or in a large villa.
EU solution far away?
“The model rewards energy-efficient living and encourages energy savings,” says Böheim, who also calls for regulation of the electricity market. However, the economic researcher doubts whether the EU will implement a reform soon. The multi-billion dollar rollercoaster ride that Wien Energie slides unsecured will continue.
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.
