More profit nevertheless

Electricity and gas from Energie AG are less in demand

Energie AG's turnover - here CEO Leonhard Schitter - fell in the first half of 2023/24.(Bild: Krone KREATIV/Netz NÖ/Wurnig, Markus Wenzel)

The construction of the pumped storage power plant in Ebensee, costing around 450 million euros, is in full swing, with which Energie AG is setting the course for the future. Apart from this, the energy supplier is of course intensively occupied with the present. And in the present, there is a drop in demand for electricity and gas to contend with.

The first half of 2023/24 was extremely challenging for Energie AG: turnover for the energy supplier, which operates from Linz, fell by more than 26% to EUR 1.93 billion, while operating profit rose to EUR 143.6 million in the same period. "The first half of the year was characterized by a challenging energy industry environment," says CEO Leonhard Schitter.

More and more self-sufficient
What was particularly significant? Sales of electricity and gas stagnated, which can be attributed to the mild weather in winter, but also to customers turning away from gas. In addition, more and more Upper Austrians are moving towards self-sufficiency because they are now producing the electricity they need in their own homes themselves thanks to the photovoltaic systems they have installed.

The fact that electricity and gas prices on the wholesale markets fell also had an impact on the figures. Speaking of winter: It wasn't always quite so mild. In December, snow pressure was to blame for trees falling on power lines and affecting the power supply, reports Energie AG.