How safe is the power provide within the metropolis? – Muricas News

The state has to step in, how remains to be unclear. In Germany there's already a extremely endowed “protecting umbrella”.

The biggest regional provider in Austria has a liquidity downside. Within the worst case, he might lose entry to the market. The federal authorities desires to step in – additionally in order that the issue doesn't unfold.

Is Wien Energie bankrupt?

no The corporate has made income in current monetary years and isn't overindebted. Nevertheless, there's a liquidity downside, so Wien Energie doesn't have as a lot obtainable money as it will want.

What precisely is the issue?

Wien Energie has long-term ahead transactions, so-called “futures”, on the electrical energy exchanges, for which you must deposit securities. As a result of sharp enhance in electrical energy costs on the finish of final week, these deposits additionally all of a sudden turned dearer safe the enterprise.

How a lot cash was misplaced because of this?

So far as is thought, nothing. As a result of in accordance with Wien Energie, it's a matter of collateral. The deposited deposits are returned when the respective transaction is settled.

What’s the worst that might occur?

If Wien Energie can't present the mandatory collateral, the corporate could possibly be blocked from the inventory change. Then it will not be capable of provide its roughly two million prospects. These must be taken over by different suppliers if essential. Nevertheless, it's questionable whether or not one other firm has the capability to take action. On this case, Wien Energie additionally warns of a domino impact on the Austrian power market.

Is the provision of the purchasers secured?

Each Wien Energie and the regulatory authority E-Management are calm. The provision of customers needs to be secured. The Minister answerable for power, Leonore Gewessler (Greens), has already assured that the federal authorities will assist the corporate. Wien Energie is seemingly “too massive to fail”.

Are different power suppliers additionally affected?

So far as is thought, not. The opposite Austrian state utilities declared on Monday that they weren't affected by the event. The rationale for this was a distinct construction in electrical energy buying, which was geared extra in the direction of bilateral buying and selling and fewer through the change (see web page 6). Wien Energie can be comparatively closely depending on fuel for electrical energy and warmth manufacturing. The corporate is subsequently hit more durable by the excessive fuel costs than its opponents, who, for instance, have extra hydropower of their energy plant portfolio.

What does Wien Energie suggest?

The corporate desires the state to intervene extra and thus cease the rise in shopper prices. This considerations, for instance, a decoupling of the electrical energy worth from the fuel worth in Europe. To counter the skyrocketing prices of securities on the inventory change, Wien Energie and Vienna’s Metropolis Councilor for Finance, Peter Hanke (SPÖ), are calling for a state mortgage “protecting umbrella” comparable to is already in place in Germany. 100 billion euros have been obtainable there for this since June.