Supply certain – Wien Energie: Loan not yet drawn

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Wien-Energie boss Michael Strebl still sees no wrongdoing in the city company and points out that the guarantees from the federal government have not been necessary until now. “Not a cent so far” has been extracted. Strebl confirmed that the energy supplier had received 600 million euros from the cash pooling of parent company Wiener Stadtwerke.

The director of Wien Energie defended Wednesday evening in the “ZIB2” that messages about the company’s stock exchange transactions are not presented to the public. The authors of the study had requested secrecy, and it involved business secrets as well.

Wien Energie is relieved by investigations by three audit institutes that audited Wien Energie’s electricity trade on behalf of Wiener Stadtwerke, although there were also negative elements in it. The fact that a possible “existential threat” to the company was also reported was taken out of context. In any case, Wien Energie followed a ‘low-risk strategy’ when trading on the power exchange. “Wien Energie has never been insolvent,” Strebl emphasized again, “acting in good conscience.”

“Perfect Tsunami” in Electricity Markets
Strebl defended the fact that as a competitor she traded more actively on the stock exchange. This is the “least risky option”. However, the electricity markets had “gone completely mad,” he said again, emphasizing, “It was a perfect tsunami.” approached the federal government to be prepared for “all crazy market situations”.

In the “ZIB2” interview, Strebl did not accept that Wien Energie would first sell almost all electricity production and then buy it back. It is a statement of account on a specific date. The surplus electricity is sold on the stock exchange.

Fuel tank sufficiently filled
There was some reassuring news for private households in Vienna: the gas supply had been secured, the storage tanks were 92 percent full, “mathematically speaking that is correct,” Strebl said. “From the current perspective, the supply of the Viennese is assured,” explains the director of the energy supplier.

Background: At the end of August, it was announced that Wien Energie was “in a financial emergency” according to Finance Minister Magnus Brunner (ÖVP). The energy supplier needs “urgent support”. In the days that followed, there was talk of a ‘protective shield’ of up to ten billion euros. On August 31, the federal government and federal capital agreed on a loan of two billion euros – which, according to Strebl, has not yet been used in the “ZIB2”.

Source: Krone

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