- The government and the city of Vienna agreed on Wednesday to an ’emergency’ €2 billion state loan for Austria’s largest energy supplier to hedge against extreme outliers on the electricity exchange.
- Investigations will be carried into Wien Energie’s business and risk management operations to find out why it needed the loan, and a government representative will join Wien Energie’s supervisory board until April next year.
- During that period, the city of Vienna will have to report to the federal government on the security of the energy supply.
Government steps in to shore up Austria’s reeling largest energy supplier
