10 million euro hardship fund for VERBUND customers

The market prices for energy sources have risen considerably on the relevant European procurement markets since autumn 2021. Above all, concerns around the security of energy supplies following the invasion of Ukraine combined with ongoing high demand led to unprecedented price increases for all sources of energy. As Austria's leading energy company, VERBUND is conscious of the challenges posed by rising energy prices and the cost-of-living crisis. For this reason, the company has created a 10 million euros VERBUND hardship fund, which provides targeted and non-bureaucratic support for those customers who are affected particularly badly by rising energy prices and are having difficulties paying their VERBUND energy bills. 

How do I get support from the VERBUND hardship fund?

The prerequisite for receiving financial assistance from the VERBUND hardship fund is proof of receipt of a benefit, such as, for example, unemployment benefit, minimum income or minimum pension, social assistance, GIS exemption or similar. This proof is intended to ensure that the money really gets to where it is needed most urgently. There is also the possibility to address individual predicaments that have only just arisen or are not yet officially documented for other reasons. The VERBUND hardship fund provides financial support by waiving or reducing the person’s obligation to pay energy bills or make prepayments. Further information and the application form can be found at www.verbund.at/verbundhilft 

Further assistance options: VERBUND Electricity Relief Fund in collaboration with Caritas

The VERBUND Electricity Relief Fund in collaboration with Caritas has been helping people affected by energy poverty in Austria since 2009. 16,000 affected people – regardless of their energy provider – have so far received support in the form of grants for energy bills, for appliance replacement campaigns and for the purchase of energy-efficient appliances. For 2023, VERBUND has boosted this support payment to Caritas to 5 million euros. More information from the 71 social counselling centres of Caritas and at [///] VERBUND's electricity assistance fund of Caritas solves energy problems.

Investments in the energy future

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. For this, the company is investing 1-1.5 billion euros per year, around 15 billion euros in the next 10 years. With these investments, generation will be increased by up to 8 TWh through expansion and efficiency increases, and thus supply a further 2.3 million households.

VERBUND electricity tariffs for existing and new customers

The working price of existing customers with a standard load profile in the household segment 
as at 1 March 2023 is 23.9 cents per kWh net or 28.68 cents per kWh gross. The new customer tariff is currently 33 cents per kWh net or 39.6 cents per kWh gross.