Image: APA/ROBERT JAEGER
In the previous year, the energy supplier had to deposit high security deposits – so-called margin payments – for trading in electricity and gas on the stock exchange as a result of the price jumps, but was no longer able to raise them from its own resources from summer 2022. Mayor Michael Ludwig (SPÖ) had therefore provided a total of 1.4 billion euros by emergency competence from July. The liquidity crunch and the mayor’s emergency loans became public at the end of August, when these 1.4 billion were also running out. As a result, the federal government stepped in.
Today, a municipal council resolution makes it possible for the city to transfer the funds to the parent company, i.e. the municipal utilities, if necessary. The contract between the city and UniCredit, which finances the credit line, is also approved.
City Councilor for Economic Affairs Peter Hanke (SPÖ) defended the measure during question time. He referred to Russia’s war of aggression against Ukraine and emphasized that it was not known how this would continue. It is therefore not known how energy prices would develop further. Currently you can see falling prices. “But still, we must continue to assume that there may be distortions on the energy markets.” That’s why you have to take precautions.
In camera
The FPÖ has already criticized the fact that the debate and the decision on the protective shield will take place in a non-public meeting in the afternoon. Today all opposition parties expressed incomprehension. FPÖ mandatary Udo Guggenbichler wondered why it was allowed to be discussed so openly during question time.
Martin Margulies from the Greens was also annoyed. Hanke holds “lectures” during question time, but evades discussion. ÖVP local councilor Manfred Juraczka also regretted that it could only be discussed in the confidential part. The non-public meeting will take place after the regular agenda. Visitors or media representatives are not allowed to take part.
Hanke defend the procedure. The decision for non-public treatment was not justified by the topic. “It’s all about the bank conditions for me,” he referred to the loan agreement. From his point of view, the fact that these are evident in the contract justifies confidentiality. He pointed out that this had already been done for other businesses.
The city’s framework credit is also supplemented. Because the Wiener Stadtwerke also create a credit line with the banks – in the amount of 1.7 billion euros. A total of EUR 3.7 billion could therefore be accessed if required.
Source: Nachrichten
