Austria: How to save 1,400 euros on energy costs now

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Households with average electricity and gas consumption save over 1,400 euros with an alternative provider over 1,400 euros, calculates a tariff comparison portal.

Around 300,000 EVN customers are affected by the contract termination of the “Optima-Klassik-Tarife,” which will be discontinued at the end of June. Without a new contract, these households face the disconnection of their electricity or gas meters. Many affected are still faced with choosing a new provider or tariff, according to the tariff comparison portal “durchblicker” in a release.

Time is pressing: Due to the three-week legally anchored change period, the decision should be made by the end of May. “durchblicker” has now collected the current prices for different consumption quantities and evaluated including the electricity price break. Households with average current and gas consumption would save over an alternative offerer over 1,400 euro: Those who heat still with the river can reduce their costs by changing to the most favourable offerer around a scarcely third. Fixed tariffs are clearly in the trend; the so-called Floater is currently hardly offered and only 11 percent locked. If one binds oneself on a year, can one change in time to the announced end of the electricity price brake in the middle of 2024 again?

As the data analysis of the electricity tariffs compared via “durchblicker” in April shows, the consumption of many Lower Austrian households is likely to be far above that covered by the electricity cost brake with 2,900 kWh. “72.6 percent of the consumers in Lower Austria indicate with the tariff calculator to have an electricity requirement of more than 3,000 kWh”, explains Stefan Spiegelhofer, head of the energy division at “durchblicker.” “Therefore, the price comparison is so important despite electricity price brake, because: The higher the consumption, the higher the savings potential with the alternative provider.”

“Consumers with an average consumption of 3,000 kWh of the river must comply with the lower-Austrian land energy supplier including electricity price brake at present 798 euro per year pay, with the most favourable offerer is it 14 percent (112 euro) less. With a consumptiopercent00 kWh of electricity, EVN is 24 percent (391 euros) above the best bidder. If the living space is heated electrically, which is still the case for more than six percent throughout Austria, the consumption is a good 10,000 kWh. The potential saving amounts to an up-to-date 30 percent or converted 1,077 euros per year per the comparison portal.

All the same, whether small consumers or large families, with the gas costs tidy, can be saved: A single household with 4,000 kWh gas consumption saves 350 euros per year with the most favourable offerer compared to the excellent tariff. A family household with 100m² comes with 15,000 kWh gas to a savings potential of 1,168 euros; a large family with 25,000 kWh currently saves 1,920 euros when switching to the cheapest alternative.”

Decreasing wholesale prices would often be time-delayed or sluggishly passed on to the final customers. Nevertheless, “durchblicker” has noticed a slight price drop for new customer tariffs since the beginning of the year. “For new customers, there are currently offers from 6 cents per kilowatt hour for gas and 21 cents for electricity. In the fall, the cheapest offers were still at 14 cents for gas and 27 cents for electricity,” explains the expert. “This is indeed very positive for all those who now conclude a new contract. However, those who entered into a 12-month commitment in the middle to end of last year are stuck with the high fixed tariff.”

“We recommend all terminated EVN customers who have not yet changed to compare immediately and conclude a fixed tariff,” advises energy expert Spiegelhofer. “Anyone who enters into a one-year commitment now can compare prices again at the end of the electricity price brake in June 2024 and switch to the cheapest provider,” says Spiegelhofer. “It is unlikely that tariffs will drop massively within the next two to three weeks due to the anti-tariff package. In the medium term, however, we hope to see a further drop in prices.”