The measure will be maintained for a period of 18 months to help households deal with high energy prices
Austria has decided to limit the electricity prices of the country for a period of 18 months to help households deal with high energy prices, as reported by the Executive this Wednesday.
Specifically, the country’s government has decided to put a price of ten cents per kWh for the first 2,900 kWh of consumption of each home. This figure represents 80 percent of the average consumption of Austrian households, according to the Austrian Chancellor, Karl Nehammer.
“Nobody in Austria should not be able to cover their basic electricity needs“, the president has indicated, explaining that the price cap will come into force in December 2022 and will last until mid-2024.
The Executive considers that the design of this measure represents an aid to Austrian households and, in addition, encourages saving as there is a maximum consumption. Electricity consumed in excess of those initial 2,900 kWh will be paid at its normal price.
The Government estimates that the cost of this measure will be between 3,000 and 4,000 million euros for the program as a whole.