Austria: Refuelling and heating will become more expensive, but climate bonus will also increase

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Next year, the national CO2 price will rise, making refuelling and heating with fossil fuels more expensive. However, the price increases will likely be moderate and largely offset by the climate bonus. In the public debate, the CO2 price is often viewed without the rebate, said Wifo environmental economist Claudia Kettner in an interview with APA. “This makes the burden appear greater than it is.”

According to the ÖAMTC, consumers can expect to pay 3.7 cents more per liter of diesel and 3.4 cents more per liter of petrol, including VAT, at the pump in 2024. The new CO2 price of 45 euros per tonne will make diesel more expensive than petrol due to its higher carbon dioxide content.

The cost of heating with oil and natural gas will also rise as a result. In addition, landlords could pass their additional costs to tenants via their utility bills.

In view of the rise in the cost of living, there has recently been renewed criticism of the increase in the CO2 price. However: “In Austria, there is a comprehensive rebate that is suitable for relieving the burden on low-income households,” says Kettner. If we are serious about the climate targets, it is important to stick to the CO2 price and its increase.

From 2024, CO2 emissions will cost 45 euros per tonne, and the price is set to rise to 55 euros per tonne in 2025. To compensate for the CO2 pricing, a climate bonus will again be in 2024. Its amount will depend on the CO2 price and will be determined during the first half of 2024. The bonus will be paid to around 8.5 million people starting in the fall of 2024. In 2023, it amounted to 110, 150, 185, or 220 euros, depending on the place of residence.
Austria’s CO2 pricing puts it in the lower midfield in a European comparison. In Switzerland and Liechtenstein, the equivalent of around 125 euros per tonne is payable, while Sweden and Finland, for example, also have significantly higher CO2 prices, according to the environmental economist.

  • source: APA/picture: pixabay.com
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