"To less than 10 cents"

Tiwag reduces electricity price from the beginning of December

The Tyrolean regional energy supplier Tiwag announced a reduction in electricity prices on Monday. As of December 1, 2024, the working price for existing customers will be reduced by two cents to 9.8 cents per kilowatt hour (kWh) net, it said in a press release.

For an average household with an annual consumption of 3,500 kWh, this would mean a saving of around 84 euros per year, it was emphasized.

A price reduction had actually been planned for the beginning of the year. This has now been brought forward after the purchase of the required electricity volumes for 2025 was completed. "The cost reduction achieved" will be "passed on to customers earlier".

The current 200,000 Tiwag customers will be personally contacted and informed in the next few days, it said.

Company plans to invest billions
The company also announced that it intends to invest two billion euros in the expansion of infrastructure "to support the energy transition" in the coming years.

"The prerequisite for raising the funds required for this is an economically successful and stable company that can manage these investments from its own resources with a high proportion of Tyrolean value added and can also provide the owner with an appropriate dividend to fulfill its public service tasks," said Supervisory Board Chairman Eduard Wallnöfer.