Next session on May 10, 2023
Vienna (OTS/RK) – Today, Tuesday, April 11, 2023, the Vienna City Council’s commission of inquiry into Wien Energie held its ninth meeting.
Deputy Mayor Christoph Wiederkehr was the first witness to be called by the commission for questioning. The Commission’s questions to the witnesses concerned the following topics: development of the European energy sector in the first half of 2022; Liquidity of Wien Energie and Wiener Stadtwerke in this period; Time and type of transmission of the information regarding the first emergency competence on July 15, 2022; further information talks with Mayor Ludwig and City Councilor Hanke following July 15, 2022; Strategy for public communication of the liquidity bottleneck; Information status of the witness at the end of August 2022; possible request for witness silence on emergency competence; Perception of the witness regarding the potential financial needs of Wien Energie; Discussion on the term “immediateness”; possible procurement of information by the witness on the shortage of liquidity at Wien Energie; perception of price development on the energy market; necessity of emergency competence; flow of information regarding the drawing of the second emergency competence; impulse of the witness to ask regarding the reasons for the emergency competence; Flow of communication between the mayor and the deputy mayor; different types of emergency competence; Criticism of Wien Energie’s crisis management; evaluation of an interview by finance minister Brunner; Obtaining expertise on the energy sector; Information on Wien Energie’s trading strategy; frequency of conversations regarding Wien Energie between mayor and witnesses; judgment on the business transactions of Wien Energie; Competences as transparency city councilor; Discussion levels with City Councilor Hanke and his office and with Wien Energie; representative function for the mayor; Knowledge of the draft application from Wiener Stadtwerke to Municipal Department (MA) 5; Discussion of Wien Energie’s risk strategy; Knowledge of the witness regarding the actual amount of the sum of the emergency competence.
As the second witness, Wien Energie Managing Director Karl Gruber provided answers to the commission’s questions. He provided information on the following matters: responsibilities of the witness in the management of Wien Energie; Procedure until the first emergency competence is drawn from the perspective of the witness; knowledge regarding the concrete amount of the sum of emergency competence; Knowledge of the financial position of Wien Energie in the first half of 2022; Contacts with Finance City Councilor Hanke or MA 5; Connection between cash flow of Wien Energie and cash pooling of Wiener Stadtwerke; contacts between the witness and the mayor as well as the city councilor for finance; internal risk management and control system of Wien Energie; perception of the witness on the processes up to the first emergency competence; Adjusting Wien Energie’s risk strategy; time of need for additional financial needs; Margin requirements of Wien Energie; Exchange within the management of Wien Energie; hedging the risk of an energy company; Alternatives to trading on the Leipzig Energy Exchange; possible short sales by Wien Energie; Security of supply for the Viennese population; Determining the timing of the payment of 350 million euros; need for protective screens for energy companies and demands for them; Adaptation of risk management in 2021; evaluation of an interview by finance minister Brunner; Perceptions of the witness on the price development of the electricity price in August 2022; time of the increase in the deposit on the Leipzig electricity exchange; Consequences of a possible turbine failure in electricity production at Wien Energie; purpose of a stress test in July 2022; Increase in Wien Energie’s stock exchange transactions in 2022; Processes within Wien Energie up to the second emergency authority; Adjustment of Wien Energie’s liquidity requirements; time span between emergency competence and credit framework agreement; Advantages of transactions on the energy exchange for end customers; Information regarding the assignment of the first emergency competence; Need for additional liquidity between mid-July and the end of August 2022; Perception of the need for EUR 2 billion on the part of Wien Energie; Cash pool status of Wiener Stadtwerke in August 2022; Profit development of Wien Energie in comparison to the forecasts; Amount of electricity production in the first three quarters of 2022; assessment of crisis communication at Wien Energie; Margin between forecast and actual electricity production by Wien Energie.
The next meeting of the municipal council’s investigative committee is expected to take place on Wednesday, May 10, 2023 at 10:00 a.m. in the Vienna City Hall.
Meeting minutes at www.wien.gv.at
The minutes of the meetings are available at and are thus made accessible to the public. The minutes of today’s meeting can be read there shortly. (close) not
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