From July 1: Wien Energie reduces electricity and gas prices – Vienna – District 1

The price adjustment therefore applies to most Wien-Energie customers, but not all. For example, for households that pay their electricity bills only in April 2024, the one-year price guarantee will continue to apply until April 2025.

“We are passing on the positive market developments of the past few months to the people of Vienna. This year, Wien Energie will invest an additional 50 million euros,” said Peter Hanke (SPÖ), Vienna’s councillor for finance and economy, according to radio reports. Last year, 340 million euros were already invested in price cuts. Electricity and gas tariffs for small and medium-sized businesses will also automatically fall in July, by up to 56 percent, according to the contracts.

Depending on the type of contract, household electricity prices will fall by up to 55%, and gas will be 7% to 20% cheaper than last year. The price cut to 14.9 cents per kilowatt-hour also applies to new customers of EVN and Burgenland Energie, the other two suppliers active in the Energy Union, according to a statement from the Energy Union on Monday.

According to radio reports, Wien Energie promises that customers who renew for another year will receive an additional discount, which will bring the consumer price down to around 12.9 cents/kWh. Here, however, it is necessary to take action yourself. The offer is valid until September 16. Anyone who wants to use it must take the initiative to do so online or via Wien-Energie customer service. The energy supplier wants to inform its customers about this via e-mails, letters and advertising campaigns.

Last year, not only Wie Energie, price cuts were mainly passed on to consumers in the form of discounts, on the grounds that even with price cuts contracts could not be changed unilaterally. This is no longer the case: The current price decline is due to a fall in the index on which the contracts are based. “The indices do not lead to these discounts that we passed on to our customers last year, which is why we are using discounts,” Wien Energie boss Michael Strebl explained at the beginning of May. The fall in wholesale prices is visible in related indices such as the Austrian Electricity Price Index (ÖSPI) with a delay of about one year.

For district heating, Wien Energie is continuing last year’s discounts and has a budget of 140 million euros for this year. When asked by APA, a Wien Energie spokesperson said it was not yet clear whether there would be a price adjustment this year. The last price reduction was in autumn 2023.