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Energy crisis contribution: Wind power industry is fighting for its existence!
IG Windkraft criticizes the new budget crisis situation as damaging to renewable energies in Austria.
Energy crisis contribution: Wind power industry is fighting for its existence!
The federal government has sent a tightening of the energy crisis contribution for review, which is already causing great unrest in the renewable energy industry. The Wind Power Interest Group (IG) sees this measure as having a negative impact on the development of wind power and regional value creation. According to IG Windkraft managing director Florian Maringer, the decision is viewed as unfair because it particularly affects medium-sized companies, while the fossil fuel sector remains protected. Over 60% of wind power output in Austria is in the hands of companies that have regional roots.
The wind power industry in particular is disproportionately affected by the planned levies, especially in winter when electricity prices are high. For these companies, the competitiveness, which is responsible for the creation of around 8,000 jobs and a value creation of almost 240 million euros in 2025, will be severely curtailed. According to the flash GDP estimate, there is also minimal economic growth, which further weighs on confidence in the location. Current investments worth 160 million euros, which could supply 60,000 households with electricity, are in jeopardy.
Global energy crises and their effects
The tense situation in the Middle East and the reduction in gas supplies from Russia to Europe has had a significant impact on oil markets, as the International Energy Agency (IEA) reports in its World Energy Outlook 2023. Security of oil and gas supply remains a key issue, particularly during the transition to clean energy. Forecasts show that the share of maritime trade in crude oil from the Middle East to Asia will increase from 40% to 50% by 2050.
The global energy crisis also draws attention to the need to ensure energy affordability and ensure the stability of the electricity supply. Consumer protection measures against fuel price fluctuations have already cost governments $900 billion in 2022. Key strategies include increased investment in resilient and digitalized networks and the promotion of lower-emission technologies such as hydrogen and bioenergy.
EU energy policy and future goals
The EU's energy policy is designed to ensure decarbonization, competitiveness, security of supply and sustainability. The EU energy policy is based on the principles of energy efficiency and the expansion of renewable energies. Five main objectives of the Energy Union were set out in 2015: diversification of energy sources, an integrated internal energy market, improving energy efficiency, decarbonizing the economy and promoting low-carbon technologies.
Current EU energy policy goals aim to increase the share of renewable energy in final energy consumption to 42.5% by 2030 and to reduce primary and final energy consumption by 11.7% compared to 2020. Member States are required to draw up national energy and climate plans and provide progress reports to achieve the Energy Union goals.
In summary, the wind power industry in Austria faces enormous challenges, while the global energy crisis and the EU energy targets continue to set the framework for future developments and investments in the energy sector. The expansion of wind power is called for by IG Windkraft as a crucial step for a crisis-proof budget and value creation in the region.