Sharply increased energy prices for end customers were the reason for the establishment of the “Energy Task Force” by the Federal Competition Authority (BWB) and the regulatory authority E-Control in spring 2023. It was announced on Wednesday that the duration of the investigation would be extended until the end of the year. In the future, the focus will increasingly be on the gas market.
It is said that gas prices for existing customers are consistently high despite falling wholesale prices on the gas market. A faster decline would have been expected compared to electricity, especially because gas suppliers have cited shorter-term procurement strategies as a reason for price adjustments in the past. The decline in gas prices is also lagging behind in European comparison.
“Electricity and gas are essential goods for every Austrian household and business. The development in gas prices is worrying despite falling wholesale prices, we will now investigate this from a competitive perspective,” said BWB boss Natalie Harsdorf-Borsch. She announced at a press conference at the business journalists’ club in Vienna that the major gas providers in Austria would be asked what their procurement strategies look like.
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Source: Nachrichten
