Reintroduction of the Strombonus Species Planned
Powering Austrian Industry: Electricity Bonuses for Energy Efficiency
You're all set! Here's a lowdown on Austria's energy-intensive industry receiving a sweet deal: a total of €150 million in electricity bonuses for 2025 and 2026. What's the catch, you ask? They've got to invest in energy-saving measures to qualify for the bonus.
In 2022, €185 million was handed out to 44 companies, a ministry spokesman told APA. Since then, electricity costs have plummeted by around 75 percent. Companies with high electricity consumption, eyeing this compensation, must make corresponding investments in energy-efficiency measures. To qualify, companies must consume at least 1 gigawatt hour per year and are classified as energy-intensive.
The €150 million earmarked is set to be doled out based on the application situation. Without the bonus, there's a threat of industry migration, weakening Austria's competitiveness. Electricity prices for industrial companies have soared due to the CO2 tax. Hence, this relief measure is being offered. The industry price bonus will be decided in the next two weeks in the Council of Ministers and will be paid out retroactively for 2025.
Economics Minister Wolfgang Hattmannsdorfer (ÖVP) emphasized, "With the industrial electricity bonus, we are specifically relieving those companies that are under immense pressure due to high energy prices." Without the bonus, there's a risk of migration to countries with lower environmental standards. He stressed, "At the same time, we are implementing a measure to increase energy efficiency, as the beneficiaries must commit to corresponding investment measures to improve energy efficiency."
The Minister continued, "Our central task is to strengthen the competitiveness of Austria's industry." To halt gradual deindustrialization, it's vital to promote energy efficiency. As Austria resides in the middle of the European field for energy prices, keeping industries buoyant is crucial.
Looking ahead, the government's working on a social tariff for private households. "We're giving our all to ElWG and EABG," said the Ministry of Economics. The motto "Climate protection at any electricity price" is now passé – they're focusing on balance between supply, price, and climate protection. They believe electricity "shouldn't be a luxury good."
To sum it up, Austria's industry is set to receive a €150 million electricity bonus for 2025 and 2026, subject to investments in energy efficiency measures. Without compensation, there's a risk of migration, posing threats to Austria's competitiveness. The government, cognizant of these challenges, is committed to strengthening Austria's industry through incentives aimed at enhancing energy efficiency.
The government is offering a relief measure in the form of an industrial electricity bonus, amounting to €150 million for 2025 and 2026, to boost energy efficiency within Austria's power-consuming industries. To qualify for this compensation, companies must make corresponding investments in energy-saving measures and consume at least 1 gigawatt hour per year, classifying them as energy-intensive.
