Austria’s Federal Economic Chamber and the Federation of Austrian Industries are urging the government to help households and businesses struggling with soaring energy costs.

The high energy prices have been felt across the country for several months and an increasing number of companies in Austria are now demanding additional support from politicians.

"One has the impression more and more that politics is forgetting about domestic companies in the biggest energy crisis of the Second Republic,” said the presidents of the Austrian Federal Economic Chamber (WKÖ) and the Federation of Austrian Industries (IV), Harald Mahrer and Georg Knill.

Mahrer said there are still no significant relief measures in the pipeline for businesses, and the threat of closure for many is rising.  “Time is something we no longer have. Relief for businesses must finally come - noticeably, unbureaucratically and, above all, quickly,” he added.

In regard to the EU Special Council on Energy, the industry stated: "The situation on the gas and electricity markets is dramatic and is now attacking the substance of Austria as a business location. Companies cannot produce economically under these conditions. If production is relocated due to the high energy costs and industrial companies have to relocate, there is a threat of a massive loss of prosperity," said Knill.

"We have to get to the root of the problem: what is urgently needed now is temporary compensation for extreme peaks in the price of gas and a cap on the price of electricity so that companies can continue to produce competitively. At the same time, the EU should strive for joint gas purchasing in order to improve its negotiating position with more market power," emphasise Knill and Mahrer added.
“It is therefore high time that politicians at the federal level bring the current negotiations to an end and move from talking to doing - anything else would be tantamount to wilful and lasting damage to Austria as a business location," they concluded.