After price increase

Verbund customers now get their money back

According to the Vienna Higher Regional Court, the price increase of May 2022 was inadmissible.

(Bild: APA/GEORG HOCHMUTH)

Because Verbund's electricity price increase in May 2022 was legally unlawful, customers of the electricity provider are now getting money back. With an average annual electricity consumption of 3315 kWh, the amount paid out is around 90 euros.

This was announced by the Association for Consumer Information (VKI) and Verbund on Monday morning. Verbund intends to inform the affected customers in writing in the coming weeks about how much money they are entitled to.

Price increase from May 1, 2022
Verbund had a price adjustment clause in its General Terms and Conditions until the end of 2022 that was based on the Austrian Electricity Price Index (ÖSPI). Based on this clause, Verbund increased the prices of many electricity supply contracts on May 1, 2022. The VKI considered the clause to be inadmissible and took the matter to court. The Vienna Higher Regional Court ruled in favor of the VKI in the second instance and the ruling is legally binding.

Credit note also for former customers
To transfer the excess amount collected, it is necessary to register free of charge with the VKI at verbraucherrecht.at/verbund-aktion2024 by 11.11.2024 at the latest. Former customers who were affected by the price increase in May 2022 can also receive the credit.

However, the repayment is not enough for the consumer protection association (VSV). "Verbund customers are entitled to considerably more than was agreed in this settlement," said Daniela Holzinger, Chairwoman of VSV. Customers should not sign this "lame settlement, but should join a class action by VSV against Verbund".