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Crisis Around Viennese Energy Supply Company "Wien Energie"
Austria's largest energy supplier urgently needs money to hedge forward transactions. Otherwise, the company would have to realize huge losses.
Wien Energie GmbH is an energy company that is part of Wiener Stadtwerke. Wien Energie is the largest energy supplier in Austria. / Picture: © Wikimedia Commons, Bwag, CC BY-SA 4.0
Due to the high inflation in the energy markets, Wien Energie has run into financial turmoil, according to media reports by ORF. Between 1.7 and 1.8 billion euros had to be deposited by the City of Vienna subsidiary at the beginning of the week, which it could not handle on its own.
According to the Austrian Ministry…
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