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Verbund AG (Verbund AG) Accounts Payable & Accrued Expense for Financial Companies


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What is Verbund AG Accounts Payable & Accrued Expense for Financial Companies?

Accounts Payable & Accrued Expense for Financial Companies only applies to insurance companies.


Verbund AG (Verbund AG) Business Description

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GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Verbund AG (OTCPK:OEZVY) » Definitions » Accounts Payable & Accrued Expense for Financial Companies
Address
Am Hof 6a, Vienna, AUT, 1010
Founded in 1947 through a nationalization act, Verbund is the leading power producer in Austria. The Austrian state owns 51% of its capital. Hydro accounts for more than 90% of the total power output. Hydro power is generated from reservoirs and pumped storage plants in the Austrian Alps, and run-of-river plants in Austria and southern Germany. Total hydro capacity amounts to 8.4 GW. Verbund also owns the Austrian electricity grid through its fully owned subsidiary AP. In 2021, the firm acquired 51% of Gas Connect Austria, a gas transmission and distribution system operator. The group also owns one CCGT and is involved in trading and development of wind and solar capacity.