VERBUND putting up end consumer prices in May 2022, at the end of the heating period.
03.03.2022Vienna
As a consequence of rising wholesale prices, VERBUND is also adjusting the electricity and gas tariffs for household and business customers.
A massive rise in energy wholesale prices has been ongoing on the international procurement markets for months. Compared with March of last year, electricity costs three times as much, while gas is now almost five times more expensive. The sharp rise in European wholesale prices is a consequence of the sharp rise in world market prices for primary energy (gas and coal) as well as rising costs for CO2 certificates. The tight supply and low storage levels in Europe are especially noticeable in the changing gas price, as is rising demand, particularly in Asia. For its part, the uncertainty caused by the geopolitical tensions in Eastern Europe is contributing to a further rise in gas prices.
Thanks to a long-term, forward-looking procurement strategy, VERBUND has been able to keep energy prices for end consumers stable over the 2021/22 heating period. Due to current market developments, electricity and gas tariffs for households and commercial customers will also rise at VERBUND on 1 May 2022. In accordance with the General Terms and Conditions, the price increase is based on the indexes for electricity (ÖSPI) and gas (ÖGPI) set and published by the Austrian Energy Agency.
For end consumers with normal energy consumption, the monthly energy costs for an annual quantity supplied of 3,500 kWh of electricity will increase by an average of 21 euros, and for an annual quantity supplied of 15,000 kWh of gas by around 75 euros.
VERBUND will write a personal letter about the new prices that will apply from 1 May 2022 to all customers affected by the price guarantee. Customers who do not agree with the price increase naturally have the possibility to change to another energy supplier.
To take the strain of households affected by the energy price increases, the Austrian federal government has decided not to raise the green electricity flat rates or the green electricity subsidy for 2021 and to pay an energy cost compensation in the form of a one-off payment (“energy voucher”) to eligible households. The Austrian electricity industry has also undertaken to extend the disconnection waiver until 31 May 2022, to extend the instalment payment option for the duration of up to 18 months and to significantly increase the financial support available for hardship cases.
VERBUND is the driving force of the energy transition in Austria. As Austria’s largest sustainable electricity generator, VERBUND relies massively on the expansion of renewable energies, in order to implement the climate targets and the exit from fossil sources of fuel.
Thanks to a long-term, forward-looking procurement strategy, VERBUND has been able to keep energy prices for end consumers stable over the 2021/22 heating period. Due to current market developments, electricity and gas tariffs for households and commercial customers will also rise at VERBUND on 1 May 2022. In accordance with the General Terms and Conditions, the price increase is based on the indexes for electricity (ÖSPI) and gas (ÖGPI) set and published by the Austrian Energy Agency.
For end consumers with normal energy consumption, the monthly energy costs for an annual quantity supplied of 3,500 kWh of electricity will increase by an average of 21 euros, and for an annual quantity supplied of 15,000 kWh of gas by around 75 euros.
VERBUND will write a personal letter about the new prices that will apply from 1 May 2022 to all customers affected by the price guarantee. Customers who do not agree with the price increase naturally have the possibility to change to another energy supplier.
To take the strain of households affected by the energy price increases, the Austrian federal government has decided not to raise the green electricity flat rates or the green electricity subsidy for 2021 and to pay an energy cost compensation in the form of a one-off payment (“energy voucher”) to eligible households. The Austrian electricity industry has also undertaken to extend the disconnection waiver until 31 May 2022, to extend the instalment payment option for the duration of up to 18 months and to significantly increase the financial support available for hardship cases.
VERBUND is the driving force of the energy transition in Austria. As Austria’s largest sustainable electricity generator, VERBUND relies massively on the expansion of renewable energies, in order to implement the climate targets and the exit from fossil sources of fuel.
