In the 2022/2023 fiscal year, Energie AG faced a number of challenges and opportunities that had a significant impact on the company's risks and opportunities management. This took place against the backdrop of unstable and uncertain conditions in the energy sector.
The energy industry was significantly influenced by political and regulatory developments during the reporting period. The European Union issued emergency regulations to cope with high energy prices and reduce dependence on Russian energy imports. Despite the ongoing burdens in the energy industry and the general political conditions, there was a downward trend in electricity and gas prices on both the spot and futures markets. All told, these developments led to a reduction in the risk position at Energie AG.
Due to volatile energy markets and uncertainties in energy policy, the reliability of medium and long-term forecasts is currently limited. All told, Energie AG did not identify any risks in the 2022/2023 fiscal year capable of posing a threat to the company as a going concern.
In the 2022/2023 fiscal year, risks and opportunities management played a key role in identifying risks at an early stage and in deriving measures capable of mitigating risks and leveraging opportunities. Continuous adaptation to political and regulatory developments and the increased focus on counterparty risk management have contributed to the Company's financial stability and long-term success. Despite uncertainties on the markets and in politics, Energie AG succeeded in consolidating its position during the reporting period and is well equipped to meet future challenges.
For more details on the risks and opportunities situation, see the Notes to the Consolidated Financial Statements, Section 34. Risk management.