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.
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.
