It pays to compare

Regional supplier announces electricity price reduction

Before the electricity price brake expires, the Upper Austrian regional supplier has announced a price reduction

(Bild: stock.adobe.com)

Electricity prices on the international market are falling, the electricity price brake is being phased out and the competition is already offering lower electricity prices. Energie AG is now following suit and will be offering a new tariff from October that is around a quarter cheaper - if you look at the energy price alone.

On Wednesday, Energie AG announced that from October 2024, the gross working price will be reduced from the current 26.14 cents per kilowatt hour to 19.80 cents. However, customers will have to switch from Ökostrom Klassik to the new Ökostrom Loyal product. The 30 free electricity days already offered for one year will remain, which means a gross price of 18.17 cents per kilowatt hour. If you take a combined offer, you can reduce the gross price per kilowatt hour to 17.26 cents. In comparison, this is still around twice as expensive as before the price explosion following the start of the war in Ukraine.

43 offers currently cheaper
If you compare the basic offer on the E-Control tariff calculator, you will find - at current prices - 43 offers where the working price is lower. 10.88 cents is the cheapest offer without a price guarantee, 11.40 euros with a price guarantee.

"We keep our promise that we will always lower prices as soon as we can", says Klaus Dorninger, Managing Director of Energie AG Vertriebs. Incidentally, the new prices apply to existing and new customers.

This is how much households will save
Energie AG calculates what customers will save: An average household with an annual electricity consumption of 3,500 kilowatt hours will in future pay around €210 less gross per year for electricity, not including grid costs. Anyone who commits for one year can save 270 euros per year gross.

The electricity price brake is still on
However, the impact will only be felt next year when the federal government's electricity price brake finally expires and no more subsidies are paid for electricity prices above 10 cents per kilowatt hour. Consumer advocates, experts from E-Control and the Upper Austrian Energy Saving Association advise consumers to make comparisons in order to find the best conditions. Many suppliers also offer switching bonuses or discounts, but these usually expire after a year.