Stadtwerke München grapples with regulation and risk management
At Stadtwerke München, one of Germany’s largest municipal utilities, many of the issues facing risk management are different from those affecting big commercial energy firms. But concerns about the impact of financial regulation run just as high. Mark Pengelly reports
Germany has a thriving commercial energy market, serving as the home of pan-European electricity giants such as Düsseldorf-based E.on and Essen-based RWE. However, the country also harbours a thriving collection of publicly owned utilities – the Verband kommunaler Unternehmen, a Berlin-based industry group, ranks 1,400 of them among its members.
One of the largest of these is Stadtwerke München (SWM), which supplies electricity, gas and district heating to Munich and the surrounding area, as
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