Image: ROLAND SCHLAGER (APA)
This is intended to replace the credit line agreed with the Austrian Federal Financing Agency (OeBFA) in the same amount. This was announced by City Councilor Peter Hanke (SPÖ). In addition, the parent company Wiener Stadtwerke is currently negotiating with the banks about a further credit line of 1.7 billion euros.
A total of 3.7 billion euros could thus be called up if required, emphasized Hanke. The funds may only be used to secure energy transactions on the energy exchange – i.e. for so-called margin payments. These caused a dramatic situation last summer. As a result of the price jumps, Wien Energie had to deposit high security deposits for trading in electricity and gas on the stock exchange and was no longer able to raise this on its own.
Mayor Michael Ludwig (SPÖ) therefore provided a total of 1.4 billion euros from July onwards. The liquidity bottleneck and the mayor’s emergency loans became public at the end of August, when these 1.4 billion euros were also running out. As a result, the federal government granted a further 2 billion euros via the Federal Financing Agency.
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