Verbund to Write Off Gas Power Plants

Politics ♦ Published: June 13, 2013; 16:02 ♦ (Vindobona)

During an analyst’s conference in London and after the closing of the stock exchange, energy company Verbund announced dampened earning prospects.

Verbund to Write Off Gas Power Plants / Picture: ©

Gas power plants need to be value adjusted by more than € 1bn. The investment volume will be decreased from € 300m to € 1.2bn. Furthermore a short-term cost reduction program which is supposed to gain € 130m from 2013 to 2015 was introduced. The result before adjustments will be lower by seven percent.

CEO of Verbund Wolfgang Anzengruber argues that the framework…