Verbund CFO Sees No Power Price Recovery

Austrian hydropower company Verbund does not at present see power prices recovering as the market is still oversupplied, Chief Financial Officer Peter Kollmann told Reuters on Thursday.

 

"We still see strong oversupply in the price zone comprising Germany and Austria," Kollmann said.

 

"I don't see big growth rates. Growth is possible, but it depends on political decisions," he added, referring to German decisions on power grid extensions, renewable energy subsidies as well as carbon and coal market developments.