Austria approaches regulations. The government will approve a price brake on electricity on Wednesday

Austria approaches regulations. The government will approve a price brake on electricity on Wednesday
Austria approaches regulations. The government will approve a price brake on electricity on Wednesday

Mar September 4, 2022 6:33 p.m

The Austrian government will approve the so-called price brake for electricity on Wednesday. Chancellor Karl Nehammer and Climate Protection Minister Leonora Gewessler confirmed this on Sunday. The final details are open, but nothing stands in the way of a decision, government officials said, the daily Kurier reported.

According to information available to the Kurier, the price brake for electricity agreed at the weekend is based on the model presented in July by the head of the Austrian Trade Union Federation (ÖGB) Wolfgang Katzian.

Accordingly, the government should use the average annual consumption of a family of three as a benchmark for electricity consumption. Anything beyond this consumption will have to be paid by customers at the usual market price. No one from the government wanted to give further details over the weekend.

According to the daily’s sources, the average relief for households should be around 500 euros per year; a total of approximately €2.5 billion would be available. It is likely that Chancellor Nehammer will announce a concrete idea on ORF tonight from when the government will support or enforce regulated electricity prices.

German Chancellor Olaf Scholz also today presented an aid package for Germans in the total amount of 65 billion euros (1.6 trillion crowns). The government is planning to introduce an energy flat rate for pensioners and students, to reduce the price of electricity for basic consumption and to increase allowances for children. We wrote about it here.

The article is in Czech

Tags: Austria approaches regulations government approve price brake electricity Wednesday

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