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Verbund to Write Off Gas Power Plants

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: © Flickr

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…

This article includes a total of 90 words.

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