Austria to partially switch to fixed tariffs to reduce electricity bills

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Electricity forward price above 500 euros for the first time

In Austria, the government has fixed the unit price of electricity up to 2,900 kilowatt-hours, effective from November 1, 2022, due to rising energy prices.

Prime Minister Karl Nehammer said at a press conference that the regulation called “Brake on electricity price” was discussed and accepted by the Council of Ministers.

Within the scope of the regulation, which will be valid between November 2022 and July 2023, the price of 1 kilowatt hour up to 2,900 kilowatt hours was fixed at 10 cents.

In the country where the unit price of electricity varies according to each state, it was stated that by fixing the unit price, which is 30 cents on average, to 10 cents, 500 euros less will come out of the citizens’ pockets during the specified period.

Prime Minister Nehammer noted that this figure was determined because the unit price of electricity was 10 cents in the pre-crisis period, and said that 2,900 kilowatt-hours corresponds to 80 percent of a year’s consumption.

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In addition to the energy saving measures of the European Union (EU), many states in the country started to limit the night lighting of government offices and historical buildings.

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