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Energy Crisis
APG Invests Nine Billion Euros in Austria's Electricity Grid
Austrian Power Grid (APG) has unveiled an ambitious €9 billion investment program designed to lay the foundation for a supply-secure energy transition in Austria. The company, a subsidiary of Verbund AG, thus plays a central role in the transformation of the Austrian energy supply system.
October 24, 2023
Wien Energie Strengthens Independence By Reducing Russian Gas
With the start of the heating season in Vienna, ushered in by a sudden drop in temperatures after an unusually warm start to October, the essential issue of energy supply security is once again coming to the fore. In light of ongoing geopolitical tensions, Wien Energie, Austria's largest energy supplier, has taken proactive measures to secure heating supplies for the coming winter while reducing dependence on Russian natural gas.
October 22, 2023
Norway as a New Key Partner for Austria in Energy and Climate Protection
During a working visit to Norway, Chancellor Karl Nehammer emphasized Norway's key role in the fields of environment, energy technology, and climate protection. In a conversation with Norwegian Prime Minister Jonas Gahr Støre, Nehammer emphasized that Norway is not only an important partner but also a pioneer in environmental and energy technology.
October 3, 2023
OMV Secures Additional European Gas Transmission and Pipeline Capacities until 2028
The listed oil and gas group OMV has successfully secured additional European gas transport capacities and gas pipeline capacities. This measure serves to secure Austria's gas supply and enables OMV to meet its delivery obligations in the medium term.
July 12, 2023
EU Parliament President Metsola Brings European Issues to Austrian Parliament
EU Parliament President Metsola will address the Austrian National Council on European affairs, participating in a National Council resolution.
May 18, 2023
Trilateral Meeting Discussed Energy Transition and Energy Innovation
A trilateral conference was held at the Technical University of Vienna, where Italian, French, and Austrian energy actors discussed the topics of energy innovation and the energy transition. The discussion panels included topics such as the role of gas and nuclear power in European decarbonization, the importance of renewable energy sources, and the potential of solar energy in Europe.
May 3, 2023
Polish President Says that We Should Not Be Afraid of Russia
Polish President Andrzej Duda met with Austrian Federal President Alexander Van der Bellen in Vienna. There he assured further military support for Ukraine
April 18, 2023
EU Approves 2 Billion Euros in State Aid for Wien Energie
The European Commission has approved 2 Billion Euros in state aid for Austrian energy supplier Wien Energie. This was done to accelerate the energy transition and reduce fuel dependency in the context of the Russo-Ukrainian war, according to the EU Commission.
April 5, 2023
OPEC+ Surprisingly Cuts Oil Production
The OPEC+ alliance has announced a surprise cut in oil production. There will probably be a reduction of about one million barrels per day from May onward.
April 3, 2023
City of Vienna: Europe's Nuclear Energy Sector is Heavily Dependent on Russia
The European Union's recently adopted tenth package of sanctions against Russia continues to leave one area completely untouched - nuclear energy. A new study by the Cities for Nuclear Free Europe network, where Vienna is also involved, aims to prove interconnections between the European and Russian nuclear sectors.
March 5, 2023
Ex-OMV Chief Doubts Policy Statements on Russian Gas Pullout
Russian gas supplies to Austria are currently causing discussions. While the Austrian government wants to do without gas supplies from Russia altogether by 2027, OMV refers to long-term contracts.
March 1, 2023
Vienna Will Provide 200 Euros Once More
After it gave financial assistance to its citizens last year, the City of Vienna will provide the same of 200 Euros again this year. The citizens will receive the benefits of the Energy Bonus 23 in April.
February 22, 2023
Wien Energie and Wiener Linien Continue Photovoltaic Offensive
Exactly 1,369 photovoltaic modules will make Vienna's public transport even greener with immediate effect, as part of the City of Vienna's plan to drive forward climate-friendly energy policies.
February 19, 2023
30 Years of EU Single Market: Austria’s Advantages are Apparent
30 Years of the EU Single Market have had a positive influence on Austria’s economy. This is shown by the reports of the Ministry of Labor and Economy and the Austrian Economic Chamber (WKO).
February 18, 2023
Slovak President Čaputová Received Austrian President Van der Bellen
Slovak President Zuzana Čaputová received Austrian President Alexander Van der Bellen in Bratislava. Among other things, they discussed further aid to Ukraine, which is under attack from Russia.
February 5, 2023
Exchange of Topics Between Foreign Minister Schallenberg and his Counterpart of North Macedonia Bujar Osmani
Austrian Foreign Minister Alexander Schallenberg met with his Macedonian counterpart Bujar Osmani, where they discussed several topics including topics regarding the Organization for Security and Cooperation in Europe (OSCE). From January 1, North Macedonia has taken over as the chair of the organization for this year.
January 11, 2023 · Updated: January 20, 2023; 12:00
EU Grants Austria Subsidies Which Amounts 100 Mio. Euros.
The European Commission will grant Austria 100 million Euros as a measure for the reduction of power consumption approved under the framework for state aid in crises.
January 19, 2023
First Meeting Between Austrian and French Foreign Ministers in Paris
Austria's Foreign Minister Alexander Schallenberg traveled to Paris for various working talks and meeting to strengthen Franco-Austrian relations. There was also the first bilateral meeting between Austria's Schallenberg and France's Foreign Minister Catherine Colonna.
January 17, 2023
Large Natural Gas Field Found in Austria
The small town of Molln in Upper Austria could make an important contribution to the gas supply of the entire country in the next few years if the conjectures prove true. Test drilling is said to have already taken place, therefore it is known that the gas is of the best quality. The Australian company ADX Energy wants to start drilling for it this spring.
January 16, 2023
Falling Gas Prices Will Be Visible in Months
Since the beginning of December, gas prices have decreased significantly in the European market. Gas prices went relatively low through control of prices and mild winter temperatures. However, the consumer will feel this decrease in several months.
January 3, 2023
Austrian Government Reviews the Year 2022
Austrian Chancellor Karl Nehammer and Vice-Chancellor Werner Kogler made a review and concluded the year 2022 with a positive and determined outlook for the following year. The subjects of the past year were the recovery from the pandemic, the energy crisis, inflation and the Russian invasion of Ukraine.
December 25, 2022
Austrian Government Will Expand Subsidies on Housing and Heating
The Austrian government wants to challenge the rising energy prices and help low-income persons by subsidizing their home and their heating. People who are eligible for those subsidies can get up to 330 Euros.
December 15, 2022
OPEC Plus Marks Sixth Anniversary
The Declaration of Cooperation (DoC) between OPEC member countries and 10 non-OPEC oil-producing countries turned six years old. As the oil cartel engaged in diplomatic celebrations, OPEC reaffirmed its expectations for global oil demand in 2023.
December 14, 2022
Austrian Parliamentarians Report on Visit to Ukraine
During a press conference representatives of the Bilateral Parliamentary Group Austria-Belarus, Moldova and Ukraine reported on their visit to war-torn Ukraine. Members of the Austrian People's Party (ÖVP), the Austrian Social Democratic Party (SPÖ), the Green Party and the NEOS took part in the trip.
December 12, 2022
Lithuanian Foreign Minister Landsbergis Visits Vienna
Lithuania's Foreign Minister Gabrielius Landsbergis came to Vienna for a visit, meeting his counterpart in Austria, Alexander Schallenberg. In addition, Landsbergis met with IAEA Chief Rafael Mariano Grossi and OSCE Secretary General Helga Schmid. The exchanges focused on the Russian war in Ukraine, in particular European support efforts against the backdrop of the approaching winter, as well as the prosecution of war crimes. In addition, the two foreign ministers discussed current developments in Iran and increasing migration pressure.
December 11, 2022
OPEC Plus Sticks to Production Strategy
The OPEC+ oil alliance is sticking to its current production strategy for the time being. EU sanctions against Russia's oil revenues will apply from tomorrow. The OPEC+ countries have nevertheless confirmed their previous oil production targets. However, an expert committee wants to review the production strategy every two months.
December 4, 2022
Weekly Briefing: Austria’s Dealing with Rising Energy Prices
The Find out more about this week's developments. Austria is trying to stop the rise of energy prices through multiple discussions, possible laws and creative methods. Read about the latest developments!
December 1, 2022
New Online Tool in Austria Should Help You to Save Electricity
A new electricity-saving tool is available online, where it is visible how you can save electricity depending on the time of the day. It shows you when it makes more sense to turn the light on.
December 1, 2022
Beginning for Electricity Price Brake in Austria
Without further application, the electricity price brake comes into effect for every household with an existing electricity contract. The electricity cost brake is intended to counteract the current price increases for electricity. This will be visible on the electricity bill. According to the government, households can save an average of 500 euros per year.
November 30, 2022
Vienna Landmarks Switch Light Off Earlier
Due to the energy crisis, the lighting of many Viennese landmarks and institutions will be switched off earlier - for example at St. Stephen's Cathedral and Schönbrunn Palace. At the Hofburg, on the other hand, the lighting concept is still being tweaked to "avoid security problems".
November 28, 2022
Austria Supports Expansion of Croatian LNG Terminal Krk
Croatia wants to expand its terminal for liquefied natural gas (LNG) on the Adriatic island of Krk far beyond its own needs and develop it into a hub for gas supply in the region - gas is also to flow from there to Austria and Germany in the future. At a meeting on Krk, Croatia's Prime Minister Andrej Plenkovic, Austria's Chancellor Karl Nehammer and Bavaria's Minister President Markus Söder agreed to support each other in strengthening energy security, diversifying energy sources and ensuring the security of supply with natural gas and hydrogen.
November 24, 2022
EU Criticizes Austria's Energy Measures as "Not Goal-Oriented"
In the opinion of the EU Commission, Austria's aid measures against high energy prices are "not goal-oriented" enough. The EU authority said today that the federal government had quickly adopted energy policy measures.
November 22, 2022
Vienna Plans to Build its First Geothermal Plant by 2026
A geothermal plant, Vienna's first, is to supply 20,000 households with emission-free district heating. Wien Energie wants to set a milestone toward a climate-neutral city by 2026. An important milestone on the path to a climate-neutral major city is the use of deep geothermal energy. Wien Energie has now presented the concrete plans for this at a press conference with Peter Hanke, City Councillor for Economic Affairs.
November 14, 2022
Austrian Chamber of Commerce Demands Acceleration of Energy Transition with Faster Approval Procedures
The EU Commission's emergency regulation is intended to accelerate the expansion of additional energy capacities, with the draft also to be extended to other areas of energy infrastructure. The head of the Austrian Chamber of Commerce, Karlheinz Kopf, demands acceleration of the Energy Transition with faster approval procedures and eased bureaucracy.
November 10, 2022
Wien Energie Brings Special Energy Tariff for Small Businesses
Given the high energy costs, companies are also coming under pressure. In Vienna, a new tariff for small businesses will start in November, which offers a 12-month price guarantee and a discount for commitment. This new tariff is now officially promoted by City Councillor for Economic Affairs Peter Hanke.
November 1, 2022
Financial Assets of Austrian Households Decline for the First Time Since the Financial Crisis
The economic crisis, high inflation, falling share prices and rising energy prices are now taking their toll. According to a new study, average household wealth in Austria fell in recent months for the first time since the 2008 financial crisis.
October 31, 2022
Environment Ministry Opens New Information Portal on the Energy Situation in Austria
How full are Austria's gas storage facilities and how high is Austria's current electricity consumption? A new website of the Austrian Ministry of Climate Change lists a variety of key figures and data on Austria's energy supply. This is intended to present the latest data to the population in an understandable and effective way.
October 29, 2022
City of Vienna Establishes Energy Crisis Unit
The City of Vienna established an advisory committee on energy supply, which will work as a crisis unit on energy supply issues. Together with the crisis unit that has existed since the Covid pandemic, it is to accompany the preparations for the winter and make proposals for measures to secure energy supplies.
October 17, 2022
Every Third Austrian Had to Suffer Income Losses in the Last Year
The COVID-19 pandemic and the many current crises have left a mark on the Austrian population. According to a recent survey, more than one third of Austrians suffered a loss of income within the last 12 months.
October 14, 2022
Austrian Foreign Minister at the Young Entrepreneurs Summit in Germany
Austria's Foreign Minister Alexander Schallenberg took part in the Young German Entrepreneurs Summit this year. The annual event took place this year under the motto "The World in Transition" and focused on the economic and social consequences of the Russian invasion of Ukraine.
October 14, 2022
Austria's Economy Threatens to Fall Into Stagflation
After the recovery of the national economy in the previous year as well as in the first half of 2022, the Economic Research Institute and the Institute for Advanced Studies see Austria in a downturn phase. Stagflation is looming next year.
October 10, 2022
WKO Calls for Coordinated Action to Combat Energy Crisis Ahead of EU Summit
The Austrian Federal Economic Chamber (WKO) recently called for a joint Europe-wide approach to combating the energy crisis. In doing so, it criticised the EU with its cautious attitude and national solo efforts.
October 8, 2022
EU Capitals Make Important Contribution to EU Climate Targets
The 11th Annual Dialogue of EU Capitals with the European Commission took place recently. A representative of the City of Vienna was also present. Read on to find out what goals and issues the EU capitals are currently facing.
September 30, 2022
Austria's Economy Demands Help with Energy Crisis
Many companies in Austria are currently struggling with the high energy prices. Now the Austrian Federal Economic Chamber and the Federation of Austrian Industries are calling for political intervention to prevent company closures.
September 27, 2022
11 Tips on How to Save Electricity in Winter
The Austrian government has set a goal to reduce its current electricity consumption by 11 percent. To accomplish this, the Austrian government recently presented 11 measures for private households.
September 14, 2022
Lufthansa and OMV Cooperate Over Sustainable Aviation Fuel
OMV, the international integrated oil, gas and chemical company headquartered in Vienna, and Lufthansa Group are expanding a partnership on sustainable aviation fuels. Germany's Lufthansa plans to stock up on sustainable aviation fuel (SAF) from OMV in the future.
September 13, 2022
Austrian Gas Storage Facilities Over 70 Percent Full
Austria's gas storage facilities are already more than 70 percent full. The contingency plans to secure gas supplies that were put into action as a result of the war in Ukraine and the ongoing energy crisis go according to plan as announced by Austria's government.
September 12, 2022
Austrian Government has Agreed on Electricity Price Brake
The Austrian federal government has agreed on the long-discussed "electricity price brake" to cushion the high cost of energy. According to information from the federal government, each household will pay a lower electricity price for that share of electricity consumption which corresponds to 80 percent of the average consumption of an Austrian household in the previous year.
September 7, 2022
Austria's President Van der Bellen Brings in Experts on Energy and Climate Issues as Advisors
Ex-Verbund boss Wolfgang Anzengruber and Wifo economist Angela Köppl are volunteering their expertise to Austrian President Van der Bellen. According to the Federal President's Office, the war in Ukraine and inflation, as well as the slowly emerging energy crisis in Europe, call for expert advice on energy economics and climate issues.
August 31, 2022
Crisis Around Viennese Energy Supply Company "Wien Energie"
Austria's largest energy supplier urgently needs money to hedge forward transactions. Otherwise, the company would have to realize huge losses.
August 30, 2022
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