Energie Baden-Wurttemberg, Germany's third largest energy company, has increased its stake in Austria's EVN to more than 35%.

EVN is a leading Austrian energy and infrastructure company. Its core business segments are electricity, gas, heating, water, thermal recycling and related services. According to EVN’s annual report, the company generated sales of E1.6 billion in 2004/05.

We see our stake in EVN as a long-term commitment and have a very positive view of both EVN as a company and Austria as a country, commented Dr Amir Ghoreishi, Energie Baden-Wurttemberg’s (EnBW) executive manger for group strategy and M&A. Both of them – EVN and Austria – are also very attractive for energy industry related reasons.

In other recent news, EnBW Vertriebs und Servicegesellschaft has guaranteed its electricity customers in the comfort tariff (basic supply) steady net prices for the next 18 months. This price guarantee means that the basic supply tariff for EnBW customers has increased only once in more than three years.