Austria’s Energie Steiermark to cut household prices by 7%
Austria’s fourth largest energy supplier Energie Steiermark will cut power prices to household customers by around 7% as of 1st June by passing on the full extent of reductions in network tariffs paid by its subsidiary Steweag-Steg, the company said on Thursday. It added that it would not impose a simultaneous increase in the price of energy, as had occurred in other states.
“This step has been possible only because we had already covered our energy needs for the entire year at the start of the year and fixed the relevant prices early,” board member Karl-Franz Maier said in a statement, referring to the rise in energy costs occurring in other countries. He added that while customers would undoubtedly welcome the group’s extensive cost cutting measures, these would however hit the bottom line by around EUR 30 million. “We will have to implement further cost-saving measures quickly in order to ensure the company develops successfully in the long term and retains its independence as the core of the Styrian energy industry,” he said. ADS
Other Related Stories
