Image: Volker Weihbold
“From today’s perspective, electricity prices are going down, but there are also elements on the electricity bill that will probably rise,” he said on the ORF program Report on Tuesday, referring to the network tariffs and system costs. Both will increase as a result of the energy transition.
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“You shouldn’t pretend that this green electricity is cheap or free because sun and wind don’t send you any bills,” said Strugl. Although more and more green electricity can be produced with the expansion of renewables and prices are falling as a result, system costs are increasing at the same time. Generation from renewables fluctuates depending on cloud levels and wind conditions, which makes interventions in the power grid increasingly necessary. Such interventions are referred to as redispatch measures and the costs are considerable. “Last year that was over 140 million euros, which is what electricity customers have to pay,” said the Verbund boss.
Massive expansion of the networks necessary
Another cost factor of the energy transition is the necessary massive expansion of the networks. “This decarbonization and the restructuring of the system costs,” said Strugl. In the coming years, 60 billion euros will have to be invested, “you will simply feel that.”
Meanwhile, wholesale electricity prices continue to fall. In February, the Austrian Electricity Price Index (ÖSPI) fell by around 11 percent compared to the previous month of January; compared to February of the previous year, it was 53.7 percent lower, the Austrian Energy Agency announced on Wednesday. The ÖSPI maps the development of market prices for wholesalers. The index only provides limited information about the development of household prices because energy providers only pass on falling wholesale prices with a delay.
In order to ensure security of supply, purchases are made in advance, “that means the price increases are not passed on in full and later, but the price reductions also take longer,” explained Strugl.
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