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

EVN Expands Drinking Water Segment in Lower Austria

Listed energy supplier EVN is expanding its potable water segment in Lower Austria, the management announced during the half-annual press conference. The company advocates a strong stabilization of power grids.

May 25, 2016

Porr Lands First Order in Great Britain

The Austrian construction company Porr is entering Great Britain. In a joint-venture with the Dutch A.Hak and a subsidiary of the Swedish construction group Skanska the company will build a high-pressure gas pipeline in a tunnel. The ordering party of the British gas distributor National Grid. The cost of the whole project is GBP 150 million (EUR 195 million), according to Porr.

May 23, 2016

EU Court Rules in Favour of Austria in Power Plant Dispute

Environmentalists were faced with an unfavorable ruling by the Court of Justice of the EU (CJEU) on Wednesday: the court dismissed a lawsuit filed against Austria in a dispute concerning the construction of a power plant at the river Schwarze Sulm in Styria.

May 4, 2016

22k Households Change Energy Provider in 2016 Campaign of Consumer Association

22k Austrian households switched to another electricity and/or natural gas provider in this year's campaign of consumer association VKI, a clear increase on some 12.5k in 2015.

May 3, 2016

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

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