Expert clarifies

“The province does have influence on Kelag”

The Carinthian Freedom Party is not letting up on the issue of electricity prices. This is why the Blue Party commissioned an expert opinion from a renowned university professor to show what influence the state has on Kelag. And there is some room for maneuver on the state side.

Since the Carinthian energy company's electricity price increases, the Freedom Party has been raging. "The state must do more to reduce electricity prices," demanded FP leader Erwin Angerer dozens of times in the past. And dozens of times the state emphasized that it was simply not possible to influence the price policy due to the Stock Corporation Act.

The Carinthian Freedom Party therefore sought advice from Christoph Urtz, a lawyer and university professor. The expert prepared a legal opinion for Angerer and his team on the actual possibilities for the Carinthian provincial government to influence Kelag and the electricity price. "These are interesting legal questions," says Angerer.

So far, responsibility has always been shifted to the Kelag management.

Erwin Angerer, FP-Chef von Kärnten

Majority owner has great influence 
Among other things, the legal opinion also took a closer look at a possible sale of the state's shares in Kelag. "Kärntner Energieholding holds a total of 51 percent of Kelag. And the province holds the majority of the shares," says Urtz. In the event of a possible sale, the general assembly would have to approve the sale with 75 percent and the supervisory board would have to give its consent. 

And this 51 percent is also decisive when it comes to exerting influence on Kelag. "The state does have influence over Kelag and its business policy," says the legal expert, confirming the suspicions of the Freedom Party. After all, the shareholders, 51 percent of whom are from the state, can discuss the business policy of the energy company at the Annual General Meeting. "However, it is not possible to issue instructions to the management," says Urtz, who also dispels the provincial government's argument: "If you follow the political statements that influence from the shareholder side is not possible, then all public limited companies would effectively be dead."

Kelag's articles of association state that the public interest and the public economy are paramount.

Christoph Urtz, Rechtsanwalt und Universitätsprofessor

This is why the Freedom Party is now calling for the immediate dismissal of all supervisory board members appointed by the state. Whether this will actually happen is doubtful. But with the legal opinions, the Blue Party should now feel vindicated ...