Like all infrastructure companies, Energie AG bears a special responsibility against the backdrop of the COVID-19 pandemic and, as an operator of system-critical infrastructure, understands how to deal with such challenges. Energie AG has responded to the developments of the past few months with appropriate strategic and operational measures, such as the rapid establishment of a task force and proactive risk management by the intra-Group Risk Committee.
The workforce at the power plants, grid control centres, in water supplies, waste management and telecommunications – supported by many employees working from home – are ensuring that the infrastructure continues to function safely and reliably during this period.
From today's perspective, infrastructure companies are not as badly affected economically as other sectors. However, the COVID-19 outbreak in spring 2020, as well as the extensive economic and socio-political measures to prevent a further spread of the pandemic, are also making Energie AG's risks and opportunities more volatile. Thus, Energie AG expects the economic measures and the economic consequences to have an impact. For example, the decline in energy consumption of (business) customers, price trends on international markets and the risk of higher receivables and credit losses. Energie AG is meeting these and other challenges – such as changes in the market environment of the energy industry, as well as adjustments in the general energy-policy and regulatory conditions – with measures designed to improve efficiency, strict, value-based investment management, as well as new business models and innovations to open up additional revenue potential.
Energie AG's business activities are still exposed to certain risks, but no risks were identified in the fiscal year 2019/2020 that, either individually or collectively, would have the potential to jeopardize the continued existence of the Company.
For more details on the risks and opportunities situation, see the Notes to the Consolidated Financial Statements.