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Verbundkonzern#

Verbundkonzern: The "Oesterreichische Elektrizitaetswirtschafts-AG" (Verbundgesellschaft) was founded in 1947 under the second Verstaatlichungsgesetz ( Nationalisation Act), with the aim of keeping the electricity industry autonomous of the allied forces (former "German possession"). The Verbundgesellschaft estimated the future electricity demand in Austria, built power plants with the help of special corporations and installed the national high-voltage system. In 1998 the Verbundgesellschaft produced 51% (1993: 54,1 %) of the entire public power supply. The most important subsidiary is the Verbund - Austrian Hydro Power AG founded in 1999 which resulted from the merger of


Donaukraftwerke AG ( Donaukraft), Tauernkraftwerke AG, Verbundkraft Elektrizitaetswerke GmbH and VEG. Further production companies include Oesterreichische Draukraftwerke AG ( Draukraft), Ennskraftwerke AG ( Ennskraft), Donaukraftwerk Jochenstein AG and  Oesterreichisch-Bayerische Kraftwerke AG. The Vorarlberg Illwerke AG has been under majority ownership of the province of Vorarlberg since 1999. In the wake of the liberalisation of the electric power industry in Austria the Verbundkonzern founded new subsidiaries in 1999: Verbund - Austrian Power Grid GmbH as operator of the transportation network and APT GmbH Austrian Power Trading for short-term operations whose number has increased since the liberalisation. In 1998 the Verbundkonzern owned over 71 hydroelectric power plants (57 run-of-river power stations and 14 storage power stations) and 5 caloric power plants in 1998. The installed power (gross generating power) came to 6,066 MWh in the hydroelectric power plants and 1,281 MWh in the thermal power plants. The Verbundgesellschaft operates a high voltage system of a length of 3,600 km at the voltage levels of 110 kV, 220 kV and 380 kV. The system of the 380 kV-voltage level, which shows less current loss during transport, has not yet been fully developed (1999: about 1000 km of the 1500 km planned). Sales in 1998: ATS 20.6 billion (1993: ATS 19.5 billion), 3,800 employees (1993: 5,297). The Republic of Austria owns 51% of the company, the remaining shares are publicly held.

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