VERBUND-Austrian Thermal Power AG Established

5/10/2001Wien

The stockholders’ meeting of VERBUND-Austrian Hydro Power AG (AHP), Austria’s biggest power producer, approved the spin-off of the thermal sector with the power plants of Duernrohr and Korneuburg to start up VERBUND-Austrian Thermal Power AG (ATP).

The new company has the same ownership structure as AHP. Approx. 85 % of the stockholders’ equity are held by VERBUND, 10 % by Kelag, the rest by Wienstrom, EVN, Energie AG OÖ and the provinces of Tyrol and Burgenland. Dipl.-Ing. Dr. Adolf Draxler, Dipl.-Ing. Dr. Heinz Kaupa und Ing. Mag. Michael Amerer were appointed to the board of management. The domicile of the company is Vienna.

The thermal power plants of Draukraft are to be integrated in ATP in the course of this year. Generating a bottleneck output of approx. 1280 MW, ATP will then supply the complementary energy to hydropower.

This step makes AHP a producer of exclusively hydropower-generated electricity. With an annual production of approx. 18,000 GWh it will remain by far the biggest Austrian power producer. Together with the hydroelectric power plants of Draukraft the production amounts to no less than 22,000 GWh. Thus the company ranks among the EU’s biggest hydropower producers.