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Energy crisis: Austria's industry celebrates new electricity price compensation!
Austria's energy welcomes the 2025 electricity price compensation for industry. 150 million euros planned for affected companies.
Energy crisis: Austria's industry celebrates new electricity price compensation!
Austrian Energy has welcomed the announced electricity price compensation for industrial companies. The industry association is calling for targeted support for energy-intensive companies in order to ensure their competitiveness in the current crisis situation. The federal government is planning a new edition of the electricity price compensation for the years 2025 and 2026, within which a total of 150 million euros will be made available as electricity cost compensation. Companies whose annual consumption is at least one gigawatt hour are entitled to this compensation.
The energy crisis triggered by Russia's attack on Ukraine has driven up energy costs for industrial companies. The Basel economic research institute Prognos has carried out an analysis to determine which companies and sectors are particularly affected. The industrial electricity price in Austria is in the middle of the European range, but the metal, paper and chemical sectors in particular are struggling with enormous price increases.
Recommended support and short-term issues
Prognos recommends targeted support for the affected industries to ensure their viability in the current situation. However, it is emphasized that electricity price compensation is only a short-term solution. In the long term, the price level can only be reduced by increasing supply. This requires investment in renewable energy sources to reduce dependence on fossil energy imports.
Companies plan to invest billions of dollars in the expansion of renewable power plants and in improving networks and storage in the coming years. These investments are necessary to ensure a sustainable and independent energy supply.
Ongoing challenges in energy pricing policy
The situation for the industry remains tense, even if electricity price compensation is a step in the right direction. According to the vbw study The sectors that suffer most from energy prices are affected by considerable competition not only in Austria but also internationally. The appropriate policy response to these challenges will be crucial for the stability of the industry and the entire economy.