Austria Achieves Net Electricity Exporter Status

Austria has transitioned from being a net electricity importer to a net exporter, according to the latest monitoring report from the Energy Regulatory Authority, E-Control. This significant change occurred between 2022 and 2024, a period marked by stable electricity supply despite global uncertainties and fluctuations in renewable energy generation.

The report highlights that, in 2024, renewable energy sources accounted for an impressive 95% of the country's electricity consumption, setting a new record. E-Control's board member, Alfons Haber, noted that the security of electricity supply has remained consistently high throughout 2023 and into 2024, a testament to Austria's robust energy infrastructure.

The surge in Austria's renewable energy capacity, particularly in photovoltaic (PV) systems, has played a crucial role in this transformation. In 2024 alone, approximately 2,100 megawatts of new PV capacity were added, bringing the total installed capacity to around 8,600 megawatts. Consequently, total electricity generation reached approximately 82 terawatt-hours (TWh), while consumption was about 64.5 TWh, resulting in a favorable net position in electricity trading.

Despite this progress, Austria still relies on electricity imports during the winter months. In 2024, the electricity generation mix was dominated by hydropower, which accounted for 60% of total production, followed by wind and solar energy at 20%, fossil fuels at nearly 15%, and CO2-neutral thermal sources such as biomass at around 5%.

One of the ongoing challenges identified by E-Control is the temporal mismatch between electricity generation and consumption. Solar energy generation peaks during midday and summer months, while consumption typically spikes in the evenings and winter. This discrepancy necessitates flexible and controllable energy generation methods, such as pumped storage hydropower and gas power plants. Looking ahead, E-Control anticipates that these methods will eventually be replaced by CO2-neutral alternatives like large battery storage systems and geothermal energy.

The outlook for 2030 remains cautiously optimistic. If Austria meets the expansion targets outlined in the Renewable Energy Expansion Act (EAG), it could theoretically satisfy around 95% of its electricity demand through renewable sources. Simulations suggest that with efficient use of storage and controllable power plants, only brief periods of the year would require electricity imports. While a purely national supply over extended periods may not be realistic, E-Control's analysis indicates that it is achievable.

The report also addresses electricity pricing trends. Following a price surge in 2022 and 2023, wholesale electricity prices averaged between 6 and 8 cents per kilowatt-hour in 2024. However, short-term price spikes of up to 90 cents occurred during the winter of 2024/25 due to reduced renewable energy generation and increased gas prices stemming from supply disruptions related to Ukraine. Nonetheless, E-Control forecasts a return to negative electricity prices in the spring of 2025 and anticipates a steady decline in prices in the coming years. Current market projections suggest that gas prices, which are around 35 to 40 euros per megawatt-hour this year, could drop below 30 euros by 2028. This trend is expected to translate into lower electricity prices, with estimates indicating an average of 87 euros per megawatt-hour in 2026, stabilizing around 74 euros per megawatt-hour by 2028. It's important to note that electricity prices will fluctuate significantly throughout the year, with summer prices in 2026 projected at 73 euros per megawatt-hour, compared to winter prices of 101 euros.