VERBUND Submits Proposal “Power Solution 05” to EnergieAllianz

6/28/2005Wien

Today VERBUND submitted a cooperation proposal for a “Power Solution 05” to the companies of EnergieAllianz. VERBUND believes that the proposed model is an appropriate approach for bundling the energies and stimulating competition in the end customer business as demanded by the Minister for Economic Affairs Mr. Bartenstein, the Federal Competition Authority, and the Energy Market Regulatory Agency.

At the core of the “Power Solution 05” is the bundling of trading activities of EnergieAllianz and VERBUND in the joint power trading company VERBUND-Austrian Power Trading AG (APT), in which the companies of EnergieAllianz are granted a shareholding of one third.

The VERBUND proposal includes essential elements of the negotiations on the “Austrian Power Solution”, enriched by competitive elements. The “Power Solution 05” is a fair and constructive model that is able to release adequate synergies and strengthen all partner companies for the market.