Mar 17, 2022 / 09:30AM GMT
Operator
Dear ladies and gentlemen, welcome to the conference call of bond. At our customers' request, this conference will be recorded. (Operator Instructions)
May I now hand you over to Peter Kollmann, who will lead you through the conference. Please go ahead.
Peter F. Kollmann - VERBUND AG - CFO & Member of the Executive Board
Ladies and gentlemen, welcome to our presentation for the full year '21. And let me thank you for joining today's conference call. Before we move into the presentation, let me make a few general comments about the business year '21.
'21 was characterized by a huge increase in volatility in European wholesale electricity prices, as you know, a key value driver for VERBUND's business development. This development is due to two main factors: One, the strong commitment of the EU member states to a comprehensive decarbonization of the energy system, which led to an increase in the prices for European CO2 certificates.
Two, there was a massive increase in the prices for primary energy sources such as natural gas and
Q4 2021 Verbund AG Earnings Call Transcript
Feb 14, 2024
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