The latest utilities industry and company news and analysis from FriedlNews
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Austrian Utilities Industry Headlines

Ex Chancellor Schüssel Remains Supervisory Board Member of RWE

Former Federal Chancellor of Austria Wolfgang Schüssel remains supervisory board member of RWE. The shareholder meeting held on Wednesday reappointed the former politician with a 95-percent majority of votes.

April 21, 2016

GE Austria to Lay Off 40

The savings measures of US industrial giant General Electric (GE) will affect Austria more than initially expected. The former Alstom plant in Vienna will lay off half of its staff of 80, trade unions GPA and ProGe announced. At the beginning of the year GE Austria indicated that the downsizing would be much smaller.

April 8, 2016

Verbund Power Posts EUR 207.7 Mln 2015 Net Profit, Up 64.7 Pct Y/Y

Listed power group Verbund raised 2015 net profit by 64.7 percent y/y to EUR 207.7 million (USD 228.8 million), somewhat below expectations, while EBITDA was inline as it grew by 9.9 percent to EUR 888.7 million, the company said in a report.

March 9, 2016

Styrian Siemens Arm to Work on Irish Project

The technology group Siemens has secured two deals for onshore wind power plants in Ireland. The transformers for the wind park Sliabh Bawn will be developed and build by the Styrian Siemens factory in Weiz. A total of 20 transformers of 3.4 MVA will be delivered to Ireland in 2016. The beginning of construction is scheduled for the beginning of 2017.

February 5, 2016

Energy Dependency in the EU at 53.4%, in Austria at 65.9%

Energy dependency in the EU was at 53.4 percent in 2014. According to the latest Eurostat data Austria’s energy dependency was at 65.9 percent, which ranks Austria seventh in the EU. Estonia was least energy dependent (8.9 percent), while Malta was most dependent (97.7 percent).

February 5, 2016

US Company Contour Moves European Headquarters from Paris to Vienna

The Vienna-based European headquarters will be the strategic centre for all thermal and renewable energy facilities in Austria, Italy, Czech Republic, Romania, Poland, Slovakia, Bulgaria, Armenia, Spain, Northern Ireland and Ukraine.

December 11, 2015

Strabag Builds EUR 37 Million Power Plant in Switzerland

Strabag AG is building the Rhone Oberwald run-of-the-river hydroelectric plant in the Swiss canton of Valais. The contract value of € 37 million comprises the construction of the necessary tunnels, galleries and underground chambers.

June 5, 2015

Verbund Raises Earnings Forecast and Dividend for 2014

Verbund AG announced today that the earnings forecast for financial year 2014 is being raised. Verbund expects EBITDA of around €800m (previous forecast: €770m) and a Group result of around €125m (previous forecast: €85m) in financial year 2014. The planned dividend continues to be based on a payout ratio of approximately 50% of the adjusted group result which in 2014 will be around €210m (previous forecast: €190m).

January 22, 2015

Verbund Withdraws from Bulgaria

Verbund withdraws from Bulgaria by selling its 16 MW wind farm on the Bulgarian Black Sea coast to Inwind Sp Ltd, a project company of Bulgarian Inovent Holding AD. The transaction is scheduled to close by the end of 2014. Both companies agreed on not disclosing any financial details of the transaction.

October 30, 2014

Fischer: Room for Further Trade with Albania

Austrian President Heinz Fischer was paying a visit to Western Balkan States.

May 22, 2014