Wien Energie reduces prices by up to 52 percent

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Starting July 1, energy price cuts will be passed on to Wien Energie customers. The City of Vienna owner will pay 340 million euros for this.

The situation in the international electricity market has been easing for weeks. However, this has not reached the consumer – yet: After EVN, as well as Energie Burgenland, announced price reductions of 15 to 20 and 15 to 25 percent, respectively, and Verbund reported a price reduction of fewer than 20 cents/kWh for regular customers, Wien Energie now electrifies with the news of electricity price reductions.

Specifically, new customers are to pay at least 25 percent less than the list price as of July 1. Depending on the contract commitment, the electricity price will fall by up to 52 percent, confirming the office of Economic Councillor Peter Hanke (SPÖ) in a report in the “Krone.” Existing and corporate customers are also to be relieved by lower energy prices, according to the city.

The initiative comes from city leader Michael Ludwig (SPÖ) and the city councillor for economic affairs. Peter Hanke was entrusted with the implementation. His office told “Heute”: “A detailed package with a total value of around 340 million euros has been put together for this purpose and will be presented at the end of June. Subject to approval by the Wiener Stadtwerke bodies and Energieallianz Austria, the reduction in Wien Energie prices will apply from July , covering all three sectors, i.e. electricity, gas and district heating.”

So instead of the announced 140 million, the energy relief package will now weigh 340 million euros. Instead of vouchers or cash, the entire sum flows directly into the price reductions.