Verbund
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Verbund AG, formerly known as Verbundgesellschaft or Österreichische Elektrizitätswirtschafts-AG, is Austria's largest electricity provider. Verbund covers around 40 percent of electricity demands in Austria and generates 90 percent thereof from hydro power. In addition, Verbund operates the supraregional power grid through its subsidiary APG. Verbund AG is listed on the Vienna Stock Exchange and in the Austrian Traded Index, the key index of Austrian stock-listed companies. The largest shareholder, at 51%, is the Republic of Austria.
Verbund AG, formerly known as Verbundgesellschaft or Österreichische Elektrizitätswirtschafts-AG, is Austria's largest electricity provider. Verbund covers around 40 percent of electricity demands in Austria and generates 90 percent thereof from hydro power. In addition, Verbund operates the supraregional power grid through its subsidiary APG. Verbund AG is listed on the Vienna Stock Exchange and in the Austrian Traded Index, the key index of Austrian stock-listed companies. The largest shareholder, at 51%, is the Republic of Austria.
Infrastructure
Austrian Power Grid AG, a 100% subsidiary of Verbund AG, disposes of the largest and strongest high-voltage grid in Austria comprising the voltage levels 380 kV with the 380 kV high-voltage ring, as well as the 220 kV and 110 kV levels and several grid facilities. Moreover, Austrian Power Grid AG (APG) is responsible for the technical management of control area APG, which includes all Austrian federal provinces except Vorarlberg; although there are specific plans of transferring the operation of the grid in Vorarlberg to Verbund. With a transmission route length of 3,471 km and the corresponding transmission lines measuring a total length of 6,763 km, APG's transmission grid forms the backbone for Austrian electricity supply, guaranteeing the energy exchange between suppliers and consumers both at supraregional level throughout Austria and at international level and safeguarding the regular feeding of the distribution grids. Austrian Power Grid AG is de-concentrated from the Group in the sense of EU unbundling regulations. Currently (2010) the APG high voltage grid measures as follows:
Business segments
Thermal power
Verbund is also one of the largest producers of electricity in the area of thermal power, as well as one of the largest district heating providers in Austria. Annual generation amounts to approx. 4 billion kWh of electricity and 900 million kWh of heat. Three of altogether nine Verbund thermal power plants - with and without combined heat and power/cogeneration - are currently in operation: Dürnrohr, Mellach und Neudorf-Werndorf II. Together, they have an installed capacity of 815 megawatt. Currently, a new combined cycle gas turbine power plant is being erected at Mellach, scheduled for completion by 2011, with an electrical peak capacity of 832 megawatt and a thermal peak capacity of 250 megawatt. The annual output will be approx. 5 billion kWh of electricity and 800 million kWh of district heating.
Wind power
Since 2009, Verbund has been operating three wind farms in Austria, in Bruck an der Leitha, Hollern and Petronell-Carnuntum, with a total installed capacity of 49 MW. Further wind farms are planned or in construction in Bulgaria and Romania. In Spain, Verbund operates two photovoltaic plants.
Group structure
Business divisions and ratios
Verbund has business relations in more than 20 countries, as well as 13 offices and/or equity interests throughout Europe and one in Turkey. In fiscal 2008, Verbund recorded the best result of its history so far: with around 2,500 employees1, the company achieved a turnover of more than 3.7 billion Euro, an EBIT of more than 1.1 billion Euro and a group result of just under 686 million Euro.
Shareholder structure
51% Republic of Austria > 25% Syndicate of EVN and Wiener Stadtwerke > 5% TIWAG (regional energy supplier of the state of Tyrol) < 20% free float
Trading
Within the Verbund Group, electricity trading constitutes the interface between generation, sales and wholesale market. More than half of the power sales are executed abroad, outside Austria. Verbund is active in more than 20 countries, the largest sales markets being Germany, France and Italy. Trade is conducted on all major European stock exchanges. Moreover, utilities and industrial large customers are supplied with energy; green energy and certificates are traded.
Sales
Effective July 2005, Verbund has been active in the area of direct power sales on the deregulated Austrian market. In addition to household and commercial customers, Verbund has also been supplying the Austrian industry since the beginning of 2006 with energy (market share of 25%). By the end of 2009, Verbund had been supplying some 220,000 end customers with electricity, which makes Verbund the fifth largest end customer provider in Austria.
Participating/equity interests
Verbund is actively involved in the major electricity markets of Europe and Turkey, mainly in connection with local partners. In Italy, Verbund has a 44.8 percent share in the power company Sorgenia, which was founded as a joint venture with the CIR Group in 19991 under the name of Energia. In France, Verbund holds a 44.8 percent share in energy provider Poweo, founded in 20041. In Turkey, Verbund has had a 50 percent share in energy provider EnerjiSA since 2007, established in 19961 by Sabanci Holding, which holds the remaining 50 percent. Since 2008, all of Verbund's foreign equity interests and projects are bundled in Verbund-International GmbH. Verbund's domestic interests, as in KELAG, for example, are administered by the Group Holding company. 46% Poweo, France 45% Sorgenia, Italy 50% EnerjiSA, Turkey 100% Energji Ashta, Albania
Subsidiaries
Verbund AG has a majority share in Verbund Hydro Power AG (80,34%), as well as in Verbund Thermal Power GmbH & Co KG (55,66%). Various subsidiaries are wholly owned; this includes Austrian Power Grid AG, Verbund Trading AG, Verbund Sales GmbH, Verbund International GmbH, Verbund Management Service GmbH, Verbund Telekom GmbH and Verbund Renewable Power GmbH.
Other information
Since 2004, Verbund has had its own art collection, "Sammlung Verbund", consisting of contemporary international artworks from 1970 until today. In 2009, Verbund, together with Caritas Austria, launched an electric assistance fund, which is fed with 1 Euro per private customer per year. This fund is intended to support people with below-average incomes by way of interim financial assistance, as well as energy consultations. The Verbund subsidiary VERBUND-Tourismus GmbH is the Group's "advertising agency", promoting its power plants as well as the adjacent areas (Kaprun, Maltatal, Zillertal) as attractive destinations for excursions.
References
External links
Vienna Stock Exchange: Market Data Verbund AG
Text derived from https://en.wikipedia.org/w/index.php?oldid=1377683045 under CC BY-SA 4.0; modifications have been made.