After the Hamas attack on Israel, the price of gas rose significantly again – reaching its highest level since February. In general, nervousness in energy markets is increasing again. At ZIB2, Walter Boltz, advisor to the Ministry of Climate Protection and former head of E-Control, gave at least a slight thumbs up. The price of gas will not rise as much as it did a year ago – caused by the Russian war of aggression. “Maybe they will increase another 20 to 30 percent. What this means for consumers cannot yet be estimated”, says Walter Boltz. However, it is possible that gas and electricity prices for consumers will rise slightly again.
Record change of supplier: Possibility of big savings on gas and electricity
Still below the previous year’s level
Despite recent gains, the price of European natural gas is still far below the level reached during Russia’s war with Ukraine. Last year, more than 300 euros per megawatt-hour were sometimes owed. Russia has significantly reduced its gas supplies to Europe, which is why it was necessary to find replacements. European natural gas storage facilities are currently quite full. Also in Austria.
The government must now finally start implementing the necessary infrastructure measures, because at the end of 2024 no more gas from Russia will reach Austria. This fault must be replaced. So far, nothing or very little has been implemented in this regard, says Boltz. Time is running out. Therefore, the government should accelerate the pace in this regard soon.