Noticeable decline

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(Bild: gopixa - stock.adobe.com)

Household energy prices continued to fall in September. Compared to the previous month, there was a "significant fall" of 2.4 percent, as the Energy Agency announced with regard to the Energy Price Index (EPI). Year-on-year, costs have even fallen by a "remarkable 15.2 percent". 

This means that the average energy costs per household have now been falling continuously for a year. However, energy was still 29.3 percent more expensive than before the energy crisis.

Experts: "Still high compared to pre-crisis levels"
According to the Austrian Energy Agency, the slight fall in energy prices this September - particularly for fuel - continued to have a dampening effect on general inflation. "However, prices remain high compared to pre-crisis levels," the experts conceded. Specifically, costs are still 29.3 percent higher than in September 2021. And the support measures will be discontinued at the end of the year.

Electricity prices have risen
Heating oil and fuels have become much cheaper compared to the same month last year. Natural gas, firewood and pellets were also significantly cheaper in September this year. However, electricity prices have risen.

In detail: In September 2024, prices for premium petrol fell by 4.3% compared to the previous month, while diesel became 3.8% cheaper. Year-on-year, the decline for diesel was 13.9 percent and for premium petrol 11.7 percent - a tank of diesel (50 liters) thus cost twelve euros less than a year earlier, compared to ten euros for premium petrol. "The falling fuel prices are partly the result of lower demand from China and Europe," explained the energy agency.

Heating oil was four percent less expensive in September than in August and 17.4 percent less than a year earlier, but still 44.9 percent more than in September 2021. Household gas prices recently fell by 1.9 percent compared to August, and by a "significant 26 percent" year-on-year. However, gas was still 120.2% more expensive than in September 2021.

Electricity, on the other hand, increased in price compared to all comparative periods - by 0.1% compared to the previous month, by 5.9% compared to the same month last year and by 10.4% compared to the pre-crisis level in September 2021.

(Bild: Pro Pellets)

Wood pellets also more expensive than before the energy crisis
The price of wood pellets fell by one percent in September compared to the previous month and by 22.6 percent compared to the same month last year. This was still almost a quarter (24.6%) more than in September 2021 before the energy crisis. Firewood was 1.3 percent cheaper this September compared to the previous month and 12.6 percent cheaper than in the same month last year, making it 44.9 percent more expensive than in September three years ago.

District heating prices, on the other hand, rose by 1.4 percent month-on-month in September, but fell by 10.1 percent year-on-year and were therefore a significant 77.4 percent higher than before the energy crisis.

According to the Energy Agency, the latest geopolitical developments once again led to a slight increase in wholesale prices for natural gas, which also had an impact on the electricity market. Customers with variable supply contracts may have already noticed these changes on their bills. "However, this short-term development is being overshadowed by an overarching trend of falling prices."

Comparing electricity tariffs can reduce costs
Data from various sources indicate "that some Austrian households continue to purchase gas and electricity at high purchase prices - for example, because contracts were concluded at times when energy prices were particularly high", according to the Energy Agency. In the electricity sector in particular, high costs could increase even further at the turn of the year, as the electricity cost brake is scheduled to expire on December 31, 2024.

"Put simply, this measure currently limits the price of electricity to ten cents per kWh - the difference is covered by the state." According to energy agency expert Lukas Zwieb, an extension of this measure would not make sense from an energy industry perspective. Although the price cap has provided short-term relief and protected the population from the extreme price effects, the market has now become more stable and cheap offers are once again available across the country.

Comparison portals provide an overview
"It is important to know your own electricity costs, check them and consider alternative offers," he recommended taking action now. Switching suppliers can be done in just a few steps and online via comparison portals such as the E-Control tariff calculator.