Verbund
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- Wolfgang Anzengruber, CEO
- Johann Sereinig Board
- Günther Raven Steiner, Executive
- Gilbert Frizberg, Chairman
The Verbund AG (own spelling: COMPOSITE AG, formerly known as composite company or Austrian Electricity Management AG, called in common parlance Verbund Group ) is Austria's largest electricity provider. The composite covers over 40 percent of Austria's electricity needs and wins 90 percent of its hydropower generation. In addition, the Group owns and operates over the 100% subsidiary of Austrian Power Grid ( APG) on the regional grid in Austria.
- 3.1 Business and figures
- 3.2 Generation and transmission
- 3.3 Trade and distribution
- 3.4 subsidiaries
- 3.5 investments
History
The composite was founded in 1947 as Austrian Electricity Industry joint-stock company due to the second nationalization law. The most urgent task of the company in the postwar years were planning, construction and operation of large power plants, as well as the operation of the national electricity grid ( which is also commonly called grid and the group gave its name ). At the same time special societies were founded to build large hydro and thermal power plants. The proportions of the Republic of Austria in these special companies were in trust managed by the composite.
1955 that the demand for electricity in Austria for the first time met again exclusively from domestic sources. As early as 1965 but had to due to the rapid economic growth again power to be purchased.
Originally the composite according to the legal principles in the Federal wholly-owned property. Mid-1987, the second nationalization law was amended so that the composite could be partially privatized, with 51 percent of the shares had to remain with the federal government. At the same time, the composite acquired the shares of the Republic of Austria to the special companies ( Austrian Donaukraftwerke AG, Austrian Draukraftwerke AG, Tauernkraftwerke AG, composite force power stations GmbH, Ennskraftwerke AG, Donau Jochenstein AG and Austro- Bavarian force Werke AG ). In 1988, the partial privatization of the composite in the context of an IPO. Here, 49 % of the shares were sold.
The most significant turning point in the history of the company composite was 1995. This year Austria joined the European Union, which a year later launched the liberalization of the electricity market. To prepare for its full opening, the composite concentrated on its core business of producing electrical power, and gave a new structure, the activities were bundled under a strategic holding in the business areas of generation, trading, transmission and investments. EU legislation called for the legal unbundling (unbundling ) of generation and transmission of electricity. At the same time, the company drove its international expansion, starting with Germany in 1999, and built through 2003 without layoffs more than half the staff from.
In the 1990s, there was also a variety of cross-holdings in Austria's energy economy. Thus acquired the provincial energy companies TIWAG (Tyrol ) and EVN ( Lower Austria) and Wiener Stadtwerke (to which the energy provider Wien Energie is one ) increasingly shares in the composite; currently hold the three - also mostly publicly owned - companies more than 25%. The composite even participated with partners in EVN, but separated again in 2003 this stock package. Important domestic interests of the composite are today KELAG -Kärntner electricity corporation and STEWEAG -STEG GmbH.
Among other things, eight Austrian Danube power plants were leased to an American finance company as part of a cross- border leasing agreement to finance the restructuring and expansion of the Verbund Group between 1997 and 2000 and without transfer of ownership leased back. 2009, the reversal was possible all leasing transactions decided and mostly implemented in the same year.
In mid-2005 established the composite distribution business and was active in Austria retail business with electricity. Within a few years the company grew to become the fifth largest electricity supplier in the domestic market. 2007 extended the composite its activities with other renewable energy sources and began with large investments, particularly in wind power. In mid-2009, Verbund acquired from the energy company E.ON, a power plant on the Bavarian Inn chain and thus rose to the fourth-largest hydropower producer in Europe.
Infrastructure
Lines
Responsible for current transport in Austria is the Austrian Power Grid AG (APG ), a 100 % subsidiary of the composite. It operates the largest and most powerful high-voltage grid in Austria, the voltage levels comprising 380 kV with the (incomplete) 380 - kV high-voltage ring, 220 kV and 110 kV and several substations and power substations. Since the third energy market liberalization package of the European Union requires a separation of the areas of power generation and trading from the field of power transmission, the APG was unbundled from the other division and certified by March 2, 2012 as an independent transmission system operator.
The path of the current ( 16.7 Hz frequency) system is next to a large extent independently with power plants and 110 kV as the highest voltage level to supply the railroad.
Power generation
Verbund is Austria 's largest electricity producer. With his own generation, the company is able to cover more than 40 % of Austria's electricity needs. The production division bundles the activities of hydropower, thermal power and wind power.
Hydropower
About four-fifths of the composite stream in Austria originate from its own hydroelectric plants. Verbund operates in Austria 16 storage power plants, six pumped-storage power plants (two more planned / under construction ) and 88 run power plants. The facilities are located in the Alpine region in Salzburg, Tyrol, Carinthia and Styria as well as along all major rivers such as Inn, Danube, Enns, Drava and Mura. Composite has in Austria a total Maximum power from hydroelectric power plants of 6,600 MW; the average annual production is combined 24.8 billion kWh. The generation of composite of hydropower in the middle of 2009 grew through the acquisition of 13 hydroelectric power plants on the Inn River in Bavaria by 7%: The Bavarian Inn power plants together have a maximum capacity of 312 MW and an average annual production of 1.85 billion kilowatt-hours.
Thermal power
In the area of thermal power network is one of the largest power producers and one of the largest district heating suppliers in Austria. The annual production is around 4 billion kWh of electricity and 900 million kWh of heat. Of nine composite thermal power plants with and without combined heat and power generation are currently three operating: Duernrohr, gas and steam power plant Mellach and Neudorf -Werndorf II Together, they have a power output of 815 megawatts. This was completed in 2011 gas -steam power plant Mellach reaches a maximum electrical output of 832 megawatts and a total thermal power of 250 MW. Its annual production is theoretically 5 billion kWh of electricity and 800 million kWh of district heating.
Wind power
Verbund operates since 2009 in Austria three wind farms with 49 MW total power in Bruck an der Leitha, Hollern and Petronell- Carnuntum. With the two wind farms Hollern II and II Petronell a doubling of capacity is planned. 2011 was a 16 MW wind park in Bulgaria in operation. Is currently under construction in Casimcea on the Romanian Black Sea coast with 200 MW one of the largest onshore wind farm in Europe. An additional 300 MW of wind power capacity to operate with partners in Italy, France and Turkey.
Solar energy
In Spain, Verbund operates two photovoltaic power plants.
Electricity labeling
The Austrian regulator, E -Control has for composite in 2012 published electricity disclosure report following current composition of:
Group structure
Business and key figures
The composite does business in more than 20 countries and has 13 subsidiaries and affiliates in Europe. In fiscal 2008, the composite showed the best result in its history: With around 2,500 employees, the company generated revenues of more than 3.7 billion euros, an EBIT of more than € 1.1 billion and a net profit of just under 686 million euros. In 2012, the number of employees rose to 3,100.
In a ranking by Forbes Magazine the world's largest public companies in the year 2013, the composite is ranked 1,229.
Generation and transmission
The Verbund AG today situated in the area of their core competence, the power plant groups and energy networks of the Austrian Alpine region, with a focus on the production of hydroelectric power and efficient energy supply, and a close link between the two and the pan-European energy network.
Trade and distribution
The current trade is within the Verbund Group, the interface between production, distribution and wholesale market dar. More than half of the electricity sales makes the company outside Austria. The network is active in more than 20 countries. The largest markets are Germany, France and Italy. Is traded on all major power exchanges in Europe. In addition, public utilities and large industrial customers are supplied, and it is traded with green electricity and CO2 certificates.
Since July 2005, the composite in the electricity direct sales is active in the liberalized Austrian market. In addition to domestic and commercial customers, the Austrian industry ( market share: 25%) is supplied in early 2006. The end of 2009 supplied the composite in Austria approximately 220,000 retail customers and was thus already the fifth largest provider in the country. At the end of 2013, the Group announced, now in Austria to supply 300,000 households with electricity.
Subsidiaries
Composite has a majority of two companies for power generation, at the COMPOSITE Hydro Power AG ( 80.34 %, for the hydropower plants ) and at the COMPOSITE Thermal Power GmbH & Co KG ( 55.66 % for thermal power plants), and 100 % of the LAMINATED renewable Power GmbH (founded in 2007 for renewable energy generation and small power plants ). 2009 were acquired by E.ON 13 power plants on the Inn River in Bavaria, and bundled into the COMPOSITE - Innkraftwerke GmbH ( Toeging am Inn ), the group extended in 2012 by another 8.
Other subsidiaries for business spaces (all 100% ) Austrian Power Grid AG (APG, operator of the power lines / power transmission ), the COMPOSITE Trading AG, COMPOSITE Sales GmbH, COMPOSITE Trading & Sales Germany GmbH ( for electricity sales and trading ), and COMPOSITE management Service GmbH ( shared service organization for business and administrative services in the group of companies).
For foreign investments, there is a COMPOSITE International GmbH.
More 100 - % - daughters for accompanying infrastructure are COMPOSITE Telekom Service GmbH (telecommunications over the power grid ), COMPOSITE Tourismus GmbH ( tourist industry around the power plants), as well as the COMPOSITE Environmental GmbH ( research and consultancy in environmental quality management in the energy sector ).
Investments
The composite is engaged in major European electricity markets. In Italy, the composite with 44.8 % stake in the energy company Sorgenia, which was founded with the CIR group as Energia 1999. From the joint venture EnerjiSA in Turkey ( 50% since 2007), which was founded in 1996 by the Sabanci Holding, which also owns 50 percent. pulled the company back in 2012 ( Assetswap with E.ON against the Bavarian Inn power plants ). In France, composite held until the summer of 2011 44.8 % of the listed energy companies Poweo; next composite continues to hold two newly built gas power plants ( in Pont -sur -Sambre and Toul ( start of operation 2013) ). Since 2008, all foreign investments and projects of the composite in the COMPOSITE International GmbH are bundled.
The investments of the composite in the country, such as in KELAG be managed in the Group holding company. From Steweag-Steg, Verbund 2012 also moved back.
Share
The bond is listed on the Vienna Stock Exchange and is included in the ATX. Is the largest shareholder with 51% of the Republic of Austria. About 18 % of the shares are in free float. 2008, the share price rose to over 60 euro, but lost in subsequent years considerable value. A historic low of was reached on 10 July 2013, 13.97 Euros. For fiscal years 2010 and 2011, a dividend of 0.55 euros each was paid for the year 2012, the dividend rose to 0.60 euros per share.
Criticism
The Austrian NGO Umweltdachverband forgave repeated the " uranium " or the "nuclear pear" to the Verbund-Austrian Power Sales, the sales subsidiary of Verbund. According Umweltdachverband the Verbund-Austrian Power Sales GmbH was one of the "greatest polluters of the Republic 2010". In particular, the " ambiguous communication " criticized, since the composite advertising with electricity from clean hydropower and imported a stream containing 30% nuclear power sell. It relies on the current labeling Report 2010 E-Control, according to which the Verbund-Austrian Power Sales moved 83 % of the energy sold from the UCTE mix, which in turn has a nuclear power share of 30 %.
2012 Greenpeace criticized the composite that he deliberately mixed physical flows of electricity and electricity labeling to give the impression that the selling of the composite Sales GmbH stream originates predominantly from domestic production, although this can not be proven with appropriate guarantees of origin.
The Austrian regulator, E -Control considered it " problematic " that the composite massively recruited in autumn 2009 to new customers and to all who are delivered with power at least 1 year, a discount promised, but then 1 May 2010 the price of electricity to 12.9% raised.
Others
Since 2004 the company has with the Sammlung Verbund own art collection of contemporary international art objects from 1970 to today.
Initiated in 2009, the composite together with Caritas Austria a current support fund, which he fed with 1 Euro per private customer per year. This supports people with below-average income among others with financial aids bridging and energy advice.
Through its subsidiary composite Tourismus GmbH is applying composite its power stations and the fantastic landscapes in the catchment area ( Kaprun, Malta Valley, Zillertal ) as destinations.