Council

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

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Next session on April 11, 2023

Vienna (OTS/RK) – Today, Friday, March 31, 2023, the Vienna City Council’s commission of inquiry into Wien Energie held its eighth meeting.

Mayor Michael Ludwig was the first witness invited to be questioned by the commission. The commission’s questions to the witnesses related to the following topics: criminal charges in connection with the exercise of emergency competence; Exercise of share management in the official area of ​​the Mayor of Vienna; influence of the witness on appointments of members of the supervisory board at Wiener Stadtwerke; Course of events from the perspective of the witness; Discussions of the witness with City Councilor Hanke before July 15, 2022 on the subject of Wien Energie; first mention of emergency competence to the witness; Content of the conversation with the Vienna Municipal Director in July 2022; perception of the witness to an e-mail on the subject of emergency competence; Alternatives to exercising emergency competence; expectations of witness regarding further measures; further talks with the municipal director following July 15, 2022 on the subject of emergency competence; Flow of information to the deputy mayor and other members of the city senate as well as other city bodies on the subject of emergency competence; Chronology of events and witness conversations to August 26, 2022; flow of information on the second emergency competence; Alternatives to trading with Wien Energie on the energy exchange in Leipzig; reasons for calling in the Court of Auditors to review Wien Energie; Distribution of departments in the city of Vienna; protective screens in other European countries; number of emergency powers during the witness’s term of office; Provision of documents for the investigative commission; Discussions with City Councilor Hanke on the situation of Austrian energy suppliers; assessment of the witness on the exercise of emergency competence by the city senate or by a circular resolution; knowledge of the witness regarding the sum of 2 billion euros originally demanded by the public utility company; differences to the allocation of the gastro voucher by emergency competence; Talks regarding the necessary liquidity of Wien Energie before July 15, 2022; Criteria for signing the emergency competency and assessing the witness thereto; areas of responsibility within the city government; Discussion regarding an own protective shield for energy companies within the conference of state governors and the association of cities; Changes in reporting by Wiener Stadtwerke to witnesses; Loan liabilities of Wiener Stadtwerke to banks; uniqueness of the processes examined in the city of Vienna; invitations to meetings with the federal government; Commitments by the city regarding financial security for Wiener Stadtwerke; Information from the witness regarding the drawing of the first installment from the emergency competence; necessity of the federal loan in August 2022; criteria for the respective decision-making process; Starting point for the emergency competence initiative; Opinion on the decision-making basis for emergency competence; decisive factors for the decision on emergency competence; perceptions of the witness on the course of the energy crisis; Risks in making decisions in times of crisis; Exchange of information with the date and time of sending the information to the Deputy Mayor; Reasons for the decision not to set up a protective shield in Vienna in the first half of 2022; Pulling the emergency authority to prevent information to members of the city government; Compliance with the information obligation; Date and invitation to the meeting in the Federal Chancellery; Compliance with the procedure of emergency competence; retrospective optimization potential following the crisis; holiday situation of the members of the city government in the summer of 2022; Intervention by the Federal Financing Agency in the case of the third emergency competence; time of knowledge of the liquidity problems of Wien Energie; strategic alignment of Wien Energie; Task of the security of supply of the city of Vienna; different actions in the case of Corona and the energy crisis; Knowledge of the witness regarding short selling at Wien Energie.