Verbund Faces `Major Upheaval' for Power With Renewables Focus

  • Congestion managment and virtual power plants stabilize result
  • 2016 profit seen lower on continued wholesale price pressure

Verbund AG’s full-year sales and profit rose after Austria’s biggest utility launched a new business tapping into the growth of renewable energy and helping it shake off a plunge in European power prices.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.