Hammer: Measures to reduce electricity prices

2023-07-05 17:29:44

Greens: We are tightening the obligations for electricity suppliers

Vienna (OTS) – “Today in the National Council we unanimously introduced obligations for energy supply companies that will lead to falling electricity prices,” says Lukas Hammer, energy spokesman for the Greens. “These are milestones in consumer protection in the energy sector. They will lower inflation and increase competition in electricity tariffs, which will lead to fairer prices,” says Hammer.

“Many people in Austria pay significantly more for their electricity bill than they actually have to. Anyone who changes their electricity tariff can currently save up to 500 euros a year. But few people take advantage of this opportunity. Existing customers usually do not know that they have the right to change their electricity provider after twelve months of contract. With today’s decision, we have legally obliged energy supply companies to inform their customers annually and before the end of the contract that they can change their electricity provider.” Because so few customers switch, energy suppliers have not felt any pressure so far, falling electricity prices also passed on to customers on the electricity exchange. “That was very convenient for energy suppliers: they could sell electricity to households at inflated prices. We’re going to change that now,” says Hammer.

“There are currently very cheap tariffs for new customers, but existing contracts remain expensive. We are now making sure that energy suppliers also have to actively offer their cheaper tariffs to existing customers,” explains Hammer. In the last year and a half, most households have had to switch to electricity tariffs that cost them many times more. Now the prices on the electricity exchanges are falling again. “It is therefore crucial that as many people as possible know about existing cheaper tariffs and are aware of their right to switch tariffs,” says Hammer.

“We have also obliged electricity providers to offer their customers monthly billing. Possible discounts may not only be settled at the end as before, but must be continuously included in the partial payments. In addition, energy suppliers now have to inform customers about the tariff calculator,” emphasizes Hammer. Many people are also not aware that there is a tariff calculator on the E-Control website where you can compare electricity tariffs, see the savings at a glance and easily switch.

“We will now close all these knowledge gaps so that people can save money. With today’s decision, we are fighting inflation, creating competition and ensuring fair prices for electricity tariffs,” says Hammer.