Like all utilities, 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 weeks with appropriate strategic and operational measures, such as the rapid establishment of a task force and proactive risk management by the Risk Committee. The workforce at the power plants, grid control centres, in water supplies, waste disposal 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 point of view, it seems unlikely that the energy industry will be hit as hard as other industries, however, Energie AG also expects effects, for example, due to the decline in energy consumption by customers or price developments on international markets. 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 first half of 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, section 7 Risk management.