Austria’s biggest utility company to ditch Russian gas from 2025

Russian gas

 

The state-owned heat and gas provider for Vienna, Wien Energie, will avoid purchasing Russian gas and ensure none is sold to its customers from 2025, according to a statement on Friday (13 September).

Wien Energie is the single biggest buyer and distributor of natural gas in Vienna, supplying power, gas and heat to two million customers, including 460,000 households with district heating.

“Anyone who purchases gas or heat from Wien Energie can be sure that it is not being used to finance Russia’s war,” said Michael Strebl, chair of the board of the company.

Ensuring no Russian gas is purchased will involve costs in the single-digit millions of euros due to the need to switch up supply contracts, which the company says it will not pass on to its customers.

This puts Vienna ahead of the rest of the country, which currently has no concrete phase-out plans for Russian gas.

In July, Austria received 83% of its gas from Russia, with the country importing around six billion cubic metres a year, implicitly helping the Kremlin fund its war on Ukraine.

A recent update of the national security strategy confirmed an EU-wide commitment to replace Russian gas by mid-2027.

Vienna’s utility company last made EU news for its recent pioneering efforts to promote geothermal energy in large cities, as well as during the 2022 energy crisis, when it almost went bust due to a lack of hedging against price spikes.

Source: Euractiv.com

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About Stu Turley 4045 Articles
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.

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