Austria exported more energy than it consumed for the first time in two decades. stable natural gas flows from Russia and lower electricity consumption gave a boost to state-owned companies.
OMV reported on Thursday that Russia has delivered all agreed volumes of gas under a long-term contract with Gazprom that runs until 2040. Electricity consumption fell 5.3 percent, although cheap hydropower generation rose by more than a fifth compared to the previous year. The rising profits of OMV and Verbund were hit with a “windfall tax,” which the government has extended until the end of 2024.