VERBUND-Austrian Power Grid AG (APG) Ensures Implementation of Eco-Electricity Act

11/15/2002Wien

The lawmaker has appointed VERBUND-Austrian Power Grid AG (APG) eco-balance group responsible (├ľko-BGV) for the implementation of the Eco-Electricity Act. APG has submitted its General Terms and Conditions to E-Control GmbH for approval as required. These terms are directed at minimizing the financing and administration expenses in order to allow eco-electricity producers to provide the highest possible supply rates within the statutory limits.

Charges of gaining interest yield by delaying payments, which were raised against APG today, are entirely unfounded. The APG board of management is getting things straight: "According to the Eco-Electricity Act the money from the grid operators is to be transferred to APG as Öko-BGV on a quarterly basis. Accordingly, this method of payment has been adopted in the General Terms and Conditions of APG".

As to the criticism according to which payments to the eco-electricity producers are made dependent on the grid operators’ payment behaviour, the APG board of management states: "It would be absurd to interpret the Eco-Electricity Act to the effect that APG, a commercial enterprise, is obliged to make payments for which no corresponding revenue exists".

In summary, APG makes clear that the General Terms and Conditions presented were designed under the aspect of low financing and administration costs and thus high supply rates for the producers of eco-electricity on the basis of the law.