Further electricity price rise expected in January 2023

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In January 2023, electricity prices in Austria will continue to rise sharply.

A new increase in electricity prices is expected in January 2023. The Austrian Electricity Price Index (ÖSPI) rises by 6.7 percent to 692.49 points in January 2023. Compared to the same month last year, the ÖSPI is 320.7 percent higher.

Wholesale electricity prices continue to rise
The baseload price is up 6.7 percent from the previous month. However, it is up 307 percent year-on-year, the Austrian Energy Agency said in a release. The peak load price also increased compared to the previous month by 6.7 percent. But year-on-year, the price increase is 355 percent.

ÖSPI only includes wholesale electricity prices
The ÖSPI only includes wholesale prices and does not consider grid fees. End consumers pay grid fees, taxes, and levies in addition to electricity. However, the renewable subsidy will not be collected this year due to the high energy prices, and the renewable support flat rate will be set to zero this year. In addition, the electricity levy will be reduced to the minimum of 0.4 percent set by the EU Energy Tax Directive for a limited period until June 30, 2023.

  • source: vienna.at/picture: pixabay.com
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