Verbund increases electricity price for existing customers

According to Verbund, the end-customer electricity quantities are procured on the basis of long-term price hedging over a period of up to 2 years in advance in order to be able to offer prices that are as stable as possible. For new customers, the prices are lowered because price movements can be reacted to more quickly. Verbund-Vertrieb also had to buy electricity at market prices despite its own production within the group, according to the partially state-owned electricity company in a press release on Monday.

Monthly additional costs of five euros

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 5 euros (including sales tax). The federal electricity price brake applies up to an annual consumption of 2,900 kWh. With an annual consumption of less than 2,900 kWh, the price increase does not lead to an increase in energy costs, which applies to 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 on the European procurement markets have increased significantly since the autumn. Electricity procurement costs for 2023 would have increased by more than 170 percent compared to 2022 and by more than 400 percent compared to 2021.

In the new customer segment, it is possible to react more quickly

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).

Verbund has set up a hardship fund of EUR 10 million for customers who are particularly hard hit 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 5 million euros.