Raiffeisen Ware Wasserkraft and VERBUND Cooperation

8/11/2001Wien

In the course of the cooperation between Raiffeisen Ware Austria AG (RWA) and Österreichische Elektrizitätswirtschafts AG (VERBUND) in the framework of the joint venture RWA Wasserkraft GesmbH, the partners have agreed to supply the Raiffeisen sectoral operations. As of January 1, 2002, operations of the RWA group will be supplied in cooperation with VERBUND via the joint subsidiary company.

In the first year about 80 million kilowatt hours are to be supplied. For this purpose VERBUND is going to feed power from its hydroelectric plants into the network.

Initially supplies will go to operations that have no existing power supply contracts. When existing contracts have expired, all RWA sectoral operations will be supplied via Raiffeisen Ware Wasserkraft. The total potential amounts to over 400 million kilowatt hours.

To date, Raiffeisen Ware Wasserkraft has concluded 5000 power supply agreements and is thus Austria’s most successful alternative power supplier. The customers are primarily from agriculture, private households and trade and industry.