Verbund AG, formerly known as Verbundgesellschaft or Österreichische Elektrizitätswirtschafts-AG, is Austria’s largest electricity provider. Verbund covers around 40 percent of electricity demands in Austria and generates 90 percent thereof from hydro power.
Verbund AG produces and distributes electricity. The company engages in the generation, trading and sale of electrical energy to power exchange buyers, traders, energy supply companies, and industrial companies, as well as households and commercial customers. It operates its business through three segments: Electricity, Grid, and Equity Interests and Services. The Electricity segment includes business activities related to construction, operation, and maintenance of hydrologic and thermal as well as solar and wind power plants. The Grid segment operates and maintains the Austrian grid area. The Equity Interests and Services segment includes the management and control functions related to foreign and domestic equity interests. Verbund was founded in 1947 and is headquartered in Vienna, Austria.