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Energy prices for the average household rose for the second time in a row in December 2024.
The Energy Agency announced in a press release that costs rose by 0.5 percent compared to November. However, they fell by 12.1 percent year-on-year, as the prices for natural gas and firewood fell compared to December 2023. However, prices are expected to rise this year.
Higher prices for diesel (up 1.1 percent), premium petrol (up 0.9 percent), and heating oil (up 1.5 percent) caused the Energy Price Index (EPI) to rise in December. Fuel costs had a particularly strong impact on the EPI, as they are very important for average households.
Energy prices continue to rise
However, energy prices are still high. Compared to before the crisis, prices for district heating were 74.1 percent higher, and for natural gas, 103.6 percent higher. However, as many energy sources are cheaper than a year ago, they are dampening inflation, according to the Energy Agency.
However, households must expect energy prices to continue to rise. “At the turn of the year 2024/25, several government support measures expired in Austria, including the electricity price brake, the reduction in the electricity and natural gas levy, and the suspension of support costs for renewable energies,” says the Energy Agency. In addition, grid tariffs for electricity and gas are rising.
“Consumers can actively reduce their costs by identifying and replacing inefficient appliances, changing energy-intensive habits, and thus reducing their consumption,” said Lukas Zwieb, energy industry expert at the Energy Agency. “Price comparisons, switching providers, producing your own electricity, or purchasing cheap electricity from renewable energy communities can also help,” added Zwieb.
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