Verbund AG
| Verbund AG
|
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|---|---|
 |
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| legal form | Corporation |
| ISIN | AT0000746409 |
| founding | 1947 |
| Seat |
Vienna , Austria
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| management |
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| Number of employees | 2,742 |
| sales | EUR 2.848 billion |
| Branch | Power generation, power trading, power distribution |
| Website | www.verbund.com |
| As of December 31, 2018 | |
The composite AG (notation lt Company register. COMPOSITE AG , formerly known as composite company or Austrian electricity-AG designated in general usage composite Group called) Austria's largest electricity supply company . Verbund AG covers over 40 percent of Austria's electricity needs and generates 90 percent of its generation from hydropower . In addition, the group owns and operates the supra-regional power grid in Austria through the 100% subsidiary Austrian Power Grid (APG) .
history
Verbund AG was founded in 1947 as Österreichische Elektrizitätswirtschafts-Aktiengesellschaft, as the successor group to Alpen-Elektrowerke , on the basis of the 2nd Nationalization Act . The company's main tasks in the post-war years were the planning, construction and operation of large-scale power plants and the operation of the supra-regional electricity network (which is also known as the Verbundnetz and which gave the group its name). At the same time, special companies were founded to build large hydro and thermal power plants. The shares of the Republic of Austria in these special companies were administered in trust by Verbund AG.
In 1955 it was possible for the first time to meet the electricity needs in Austria exclusively from domestic sources. As early as 1965, however, electricity had to be purchased again due to the rapid economic growth.
Originally, Verbund AG was wholly owned by the federal government in accordance with legal requirements. In mid-1987, the 2nd Nationalization Act was amended so that Verbund AG could be partially privatized, with 51 percent of the shares remaining with the federal government. At the same time, Verbund AG acquired the shares of the Republic of Austria in the special companies (Österreichische Donaukraftwerke AG, Österreichische Draukraftwerke AG, Tauernkraftwerke AG, Verbundkraft Elektrizitätswerke GmbH, Ennskraftwerke AG, Donaukraftwerk Jochenstein AG and Österreichisch-Bayerische Kraftwerke AG). In 1988, Verbund AG was partially privatized as part of an IPO. 49% of the shares were sold.
Probably the most important turning point in the history of Verbund AG took place in 1995. In that year Austria joined the European Union , which started the liberalization of the electricity market a year later. In order to prepare for its complete opening, Verbund AG concentrated on the core business of generating electricity and gave itself a new structure, with activities being bundled under a strategic holding company in the business areas of generation, trading, transmission and investments. EU regulations called for the unbundling of the generation and transmission of electricity under company law . At the same time, the company pushed ahead with its internationalization, starting in 1999 with Germany, and by 2003 had cut more than half of its staff without layoffs.
In the 1990s there were also a large number of mutual participations in Austria's energy industry. The state energy companies TIWAG (Tyrol) acquired more than 5% and EVN (Lower Austria) and Wiener Stadtwerke Holding AG (to which the energy supplier Wien Energie belongs) more than 25% of the share capital. Verbund AG itself and its partners took a stake in EVN, but in 2003 parted with this share package. Today, the important domestic holdings of Verbund AG are Kelag-Kärntner Elektrizitäts-Aktiengesellschaft . In 2012, the company sold its holdings in Steweag-Steg and Energie Klagenfurt .
To finance the restructuring and expansion of the Verbund Group, eight Austrian Danube power plants were leased to a US finance company under a cross-border leasing contract between 1997 and 2000 and were leased back without transfer of ownership. In 2009 it was decided to reverse all leasing transactions as far as possible and largely implemented in the same year.
In mid-2005, Verbund AG established the sales division and became active in Austria's end customer business with electricity. Within a few years, the company rose to become the fifth largest electricity provider in Germany. In 2007, Verbund AG expanded its activities to include other renewable energy sources and began making large investments, especially in wind power. In mid-2009, Verbund AG acquired a power plant chain on the Bavarian Inn from the energy company E.ON and thus became the fourth largest hydropower generator in Europe. In 2013, eight more hydropower plants were taken over by E.ON.
In March 2020, the Supervisory Board decided that Michael Strugl should succeed Wolfgang Anzengruber as CEO of Verbund AG at the beginning of 2021 .
Infrastructure
cables
Austrian Power Grid AG (APG), a 100% subsidiary of Verbund AG, is responsible for power transmission in Austria . It operates the largest and most powerful high-voltage network in Austria, which includes the voltage levels 380 kV with the (incomplete) 380 kV high voltage ring , 220 kV and 110 kV as well as several substations and network switchgear. Since the third energy market liberalization package of the European Union stipulates a separation of the areas of electricity generation and trading from the area of electricity transmission, APG was unbundled from the other group areas and certified as an independent transmission system operator on March 2, 2012.
The traction current system (16.7 Hz frequency) also exists largely independently with power stations and 110 kV as the highest voltage level for supplying the railway.
Power generation
VERBUND is Austria's leading electricity company and one of the largest producers of electricity from hydropower in Europe. According to the company, around 100% of VERBUND's electricity generation is generated from climate-friendly, renewable energies. The company advertises that it will continue on the path to the clean energy future with innovative products and energy-related services for household, commercial and industrial customers.
Hydropower
Around four fifths of Verbund's electricity in Austria comes from its own hydropower plants . Verbund AG operates 128 hydropower plants in Austria: 22 storage power plants and 92 run-of- river power plants . In addition, there are subscription rights to 14 other run-of-river power plants. The plants are located in the Alpine region in Salzburg, Tyrol, Carinthia and Styria as well as along all important rivers such as Inn , Danube , Enns , Mur and Drau . In Austria, Verbund AG has a total maximum output from hydropower plants of 8,215 megawatts; the combined average annual production is 28 billion kWh. In mid-2009, Verbund AG's hydropower generation grew by 7% through the acquisition of 13 run-of-river power plants on the Bavarian Inn: Together, the Bavarian Inn power plants have a maximum output of 312 megawatts and an average annual generation of 1.85 billion kilowatt hours.
Thermal power
Verbund currently operates two with natural gas -fired thermal power plants at Mellach: The district heating power plant Mellach and the gas and steam power plant Mellach , which are mainly used for power regulation in use. Coal firing at the Mellach district heating power station ended in spring 2020. The Dürnrohr and Neudorf-Werndorf II power plants were closed in 2015, 2019 and 2014, respectively.
Wind power
Verbund AG operates 44 wind turbines with a total output of 106 MW in Austria in Bruck an der Leitha , Hollern , Petronell-Carnuntum . A 16 MW wind farm went into operation in Bulgaria in 2011; the wind farm in Casimcea on the Romanian Black Sea coast with 200 MW is one of the largest mainland wind farms in Europe.
Electricity labeling
The Austrian regulatory authority E-Control identified the following electricity composition for the Verbund Group in the electricity labeling report published in 2016:
| Electricity supplier | Customer group | Renewable energy | Fossil energy | Nuclear energy | Others | origin | Environmental impact of CO 2 in g / kWh | Environmental impact of radioactive waste in mg / kWh |
|---|---|---|---|---|---|---|---|---|
| Verbund AG | Households, businesses | 100% | 0% | 0% | 0% | 0% | 0 | 0.000 |
| Verbund Sales GmbH | Industry | 100% | 0% | 0% | 0% | 0% | 0 | 0.000 |
Group structure
Business areas and key figures
VERBUND is Austria's leading electricity company and one of the largest hydropower producers in Europe. The company generates around 96 percent of its electricity from hydropower. VERBUND trades in electricity in 12 countries and achieved annual sales of around EUR 2.8 billion in 2016 with around 3,000 employees. With subsidiaries and partners, VERBUND is active in everything from power generation and transport to international trade and sales. VERBUND has been listed on the Vienna Stock Exchange since 1988, and the Republic of Austria owns 51% of the share capital.
Generation and transmission
Today, Verbund AG is positioned in the area of its core competence, the power plant groups and energy networks of the Austrian Alpine region, with a focus on the generation of hydropower and efficient energy supply, and close links between the two and the pan-European energy network.
Trade and distribution
Within the Verbund group, electricity trading represents the interface between generation, sales and the wholesale market. The group makes more than half of its electricity sales outside of Austria. He is active in 12 countries. The largest sales markets are Germany, France and Italy. It is traded on all major European electricity exchanges . In addition, municipal utilities and major industrial customers are supplied, and green electricity and CO 2 certificates are traded.
Verbund AG has been active in the field of direct electricity sales on the liberalized Austrian market since July 2005. In addition to household and commercial customers, Austrian industry (market share: 25%) has also been supplied since the beginning of 2006. Verbund AG currently supplies around 450,000 private customers in Austria.
Subsidiaries
Verbund AG has a majority of two companies for power generation, in Verbund Hydro Power AG (80.34%, for hydropower plants) and in Verbund Thermal Power GmbH & Co KG (55.66%, for thermal power plants), and 100% in Verbund Renewable Power GmbH (founded in 2007, for renewable energy generation and small power plants). In 2009, E.ON took over 13 power plants on the Inn in Bavaria by Verbund AG and bundled them into Verbund-Innkraftwerke GmbH ( Töging am Inn ) , and in 2012 the group was expanded by a further 8.
Further subsidiaries for business areas are (all 100%) Austrian Power Grid AG (APG, operator of power lines / power transmission), Verbund Trading AG, Verbund Sales GmbH, Verbund Trading & Sales Deutschland GmbH (for electricity sales and trading), and Verbund Service GmbH (shared service organization for commercial and administrative services in the group of companies).
Holdings
Verbund AG is active in important European electricity markets. From the EnerjiSA joint venture in Turkey (50% since 2007), which was founded in 1996 by the Sabanci holding company, which also holds 50%. The company withdrew in 2012 (asset swap with E.ON against the Bavarian Inn power plants). In France, Verbund AG held 44.8% of the listed energy company Poweo until summer 2011 ; In addition, Verbund AG held two gas-fired power plants until 2014 (in Pont-sur-Sambre and Toul).
Verbund AG's domestic holdings, such as Kelag , are managed in the group holding company. Verbund AG also withdrew from the Steweag-Steg in 2012.
Shareholder structure and share
Verbund AG is listed on the Vienna Stock Exchange and is listed in the ATX leading index. Shareholder structure:
- Republic of Austria : 51 percent
- Syndicate EVN AG and Wiener Stadtwerke : More than 25 percent
- TIWAG : More than 5 percent
- Free float: Less than 20 percent
criticism
The Austrian non-governmental organization Umweltdachverband repeatedly awarded the “uranium” or “atomic pear” to Verbund-Austrian Power Sales, the sales subsidiary of Verbund AG. According to the umbrella organization for the environment, Verbund-Austrian Power Sales GmbH is one of the “biggest polluters in the Republic of 2010”. In particular, the "ambiguous communication" is criticized, since Verbund AG advertises with electricity from clean hydropower and sells imported electricity that contains 30% nuclear power. It relies on the power labeling Report 2010 of the Energy Control , according to the Verbund-Austrian Power Sales 83% related to the sold energy from the UCTE mix, which in turn has a nuclear power ratio of 30%.
In 2012, Greenpeace criticized the Verbund Group for deliberately mixing physical electricity flows and electricity labeling in order to create the impression that the electricity sold by Verbund Sales GmbH was mainly from domestic generation, although this could not be substantiated with corresponding guarantees of origin.
Others
Since 2004, the company has had its own art collection, the Verbund collection, of contemporary international objects from 1970 to the present day.
In 2009, Verbund AG, together with Caritas Austria, initiated an electricity aid fund, which it feeds with 1 euro per private customer per year. This supports people with below-average incomes, among other things with financial bridging aid and energy advice.
Through the subsidiary Verbund-Tourismus GmbH, Verbund AG advertises its power plants and the landscapes in the catchment area (Kaprun, Maltatal, Zillertal) as excursion destinations.
See also
literature
- Gerhard A. Stadler, Manfred Wehdorn, Monika Keplinger, Valentin E. Wille: Architecture in a network. Springer, Vienna 2007, ISBN 978-3-211-75827-4 .
- Valentin Weber-Wille, Manfred Wehdorn: Architecture at VERBUND. Die Bavarian Innkraftwerke , Volume 105 of the series of publications Research in VERBUND AG, self-published by Verbund, Vienna 2012, ISBN 3-9502188-6-6 .
Web links
Individual evidence
- ↑ a b Annual Report 2018
- ↑ Federal Law Gazette No. 81/1947
- ^ Österreichische Elektrizitäts-Aktiengesellschaft: Energy for our life, 1947 to 1997 - 50 years of Verbund , Ueberreuter, Vienna 1997
- ↑ Annual Report 2015. Accessed August 17, 2016 .
- ↑ Energie Steiermark and VERBUND simplify participation structure. Press release APA OTS0220, Dec. 3, 2012.
- ↑ 27th meeting of the Vienna City Council on April 23, 2003, Post number 48, verbatim protocol, p. 25 ff
- ↑ Verbund AG takes over eight hydropower plants from Eon , issue 18/2013 of EUWID Wasser und Abwasser
- ↑ Verbund-Vice Strugl follows Anzengruber as the new CEO. In: ORF.at . June 16, 2020, accessed June 16, 2020 .
- ↑ Company presentation of Verbund Renewable Power GmbH on April 29, 2011 (PDF; 2.3 MB)
- ^ Electricity labeling report 2016 from E-Control
- ↑ a b power generation ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. ; verbund.com
- ↑ a b Power transmission ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. ; verbund.com
- ↑ a b c Stromvertrieb ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. , Electricity trading ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. ; both verbund.com
- ↑ Verbund buys 13 hydropower plants from E.ON , DiePresse.com, June 8, 2009.
- ↑ Takeover of the Bavarian Inn power plants completed , derStandard.at, September 1, 2009.
- ↑ a b c Verbund exchanges Turkey for Inn power plants , Luise Ungerboeck, derStandard.at, December 3, 2012.
- ↑ Verbund Service GmbH in Vienna . Commercial register data Creditreform / firmenabc.at
- ↑ Enerjisa - Verbund ( Memento from April 7, 2009 in the Internet Archive )
- ↑ Verbund's shareholder structure , accessed on September 20, 2017
- ↑ Environment umbrella association awards “Uranium-Pear 2008” to domestic nuclear power importers! Environment umbrella organization, accessed on July 2, 2017 .
- ↑ Environment umbrella organization: Atom-Pear 2011 goes to VERBUND Sales GmbH. Environment umbrella organization, accessed on July 2, 2017 .
- ↑ electricity labeling Report 2010 , e-control.at, p 131 (PDF file)
- ↑ Reply to Verbund's reaction - info page - January 24, 2012 , Greenpeace, January 24, 2012
- ↑ Campaign Sponsors. Caritas Austria, accessed on July 2, 2017 .
