Verbund is one step closer to effective unbundling
As early as 1999 – long before such regulation requirements were in place - Verbund was one of the first companies to also implement unbundling requirements under company law through its subsidiary Verbund-Austrian Power Grid AG responsible for the transmission grid.
As part of the ongoing EU Commission debate on ownership unbundling, Austria together with eight other Member States has submitted a proposal outlining a “third way” alongside effective and efficient unbundling. It involves a series of adequate measures that are to ensure extensive independence of the transmission operator’s entities.
Accordingly, Verbund’s managing board is taking a further step by acting upon a proposal submitted by Dr. Ulrike Baumgartner-Gabitzer, Member of the Managing Board and in charge of grid matters. In the coming General Meeting held by grid subsidiary Verbund-Austrian Power Grid AG, DDr. Erhard Schaschl, an independent expert, is to be appointed member of the Supervisory Board and Chairman of the Supervisory Board.