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14.02.2011 10:21
APG and Verbund to complete unbundling by 2012
The changes are likely to costs around EUR 15mn
AUTHOR: publics.bg


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Austria's biggest electricity transporter, Austrian Power Grid (APG), must have completed unbundling with its parent company Verbund, the largest Austrian electricity producer, by March 2012, due to EU regulations to stimulate competition, Die Presse reported. APG is planning to remain owned by Verbund as an independent transmission grid operator, as long as it meets certain requirements. APG and Verbund will have separate personnel, IT and procurement departments and Austria's energy regulator will have veto rights for all appointments to APG's Board.

The changes are likely to costs around EUR 15mn (USD 20.57mn). Verbund does not wish to sell APG at present, but has not ruled out a partial sale in the future. APG is planning on investing EUR 1bn by 2020, EUR 600mn of which by 2016, in order to expand the transmission network in order to manage power from a growing number of eco-electricity sources across Europe. Around half of the invested sum will be put into the development of transformer substations, whilst the rest will reinforce 170km of existing power lines and build 380km of new lines.


TAGS: Austria | unbundling | APG | Verbund | electricity | network | renewables 


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