In its interim report of June 2023, the Task Force had already underlined the serious issues affecting the energy sector (see press release of 27 June 2023). Investigations into potential market abuse are highly complex and demand huge efforts from the Authority. The amended Act includes stricter provisions imposing an increased burden of proof on companies in the electricity, district heating and gas markets, which must be able to demonstrate that their prices comply with the law and are not abusive in terms of market power.
This federal act should “(…) prevent price abuse and improve market conditions in the case of dominant energy providers,” according to Parliamentary Correspondence (in German). The National Council unanimously adopted the Federal Act to mitigate the consequences of the crisis and improve market conditions in the case of dominant energy providers on 12 June 2024. The Act applies for a limited term of at least until 31 December 2027.
“Competition in the energy sector is vital for consumers and the Austrian economy. We, therefore, welcome the National Council’s unanimous decision to strengthen the AFCA’s powers relating to abusive practices,” commented AFCA’s Director General Natalie Harsdorf.
The AFCA and E-Control are planning to present the Task Force’s final report at the end of 2024.