Association price increased for existing customers
business
As of March 1, Verbund will increase the electricity price for existing household and commercial customers due to higher procurement costs. Prices are lowered for new customers because price movements can be reacted to at short notice.
The procurement of end customer electricity is based on systematic price hedging over a period of up to two years in advance in order to be able to offer prices that are as stable as possible, according to the partially state-owned electricity company on Monday. Verbund-Vertrieb should also buy electricity at market prices despite its own production within the group.
An average of five euros per household
For average existing customers with an annual electricity consumption of 3,500 kilowatt hours (kWh), the price increase, taking into account the nationwide electricity cost brake, means additional monthly costs of five euros (including sales tax). The federal electricity price brake applies up to an annual consumption of 2,900 kWh.
With an annual purchase volume of less than 2,900 kWh, the price increase does not lead to an increase in energy costs, the meeting will affect more than half of the existing Verbund customers. Energy costs make up around half of the energy bill, with the rest being due to network charges, taxes and levies.
Market prices have risen significantly on the European procurement markets since autumn. Electricity procurement costs for 2023 have increased by more than 170 percent compared to 2022 and by more than 400 percent compared to 2021.
Price reduction for new customers
The energy price for customers with a standard load profile in the household segment increases to 23.9 cents per kWh net or 28.68 cents per kWh gross. The base price increases by an average of 22 cents per month based on the increase in the consumer price index (CPI).
In the new customer segment, price movements can be reacted to more quickly. The association reflects the wholesale prices, which are currently falling again from a very high level, with a tariff reduction to 33 cents per kWh net or 39.6 cents per kWh gross – from the last 41 cents net and 49.2 cents per kWh (gross).
Hardship fund endowed with ten million euros
The association has set up a hardship fund of ten million euros for customers who are severely affected by the rising cost of living. Since 2009, the Caritas association electricity aid fund has been helping people in Austria affected by energy poverty. For 2023, the association has increased this support to Caritas to five million euros.