Events After the Balance Sheet Date

Following the successful completion of the MVV 2020 strategy project, implementation began directly at the onset of the 2009/10 financial year. At the kick-off meeting, workgroups were set up with managers from all operating and administrative divisions at the companies involved and work schedules and a timeplan were laid down. All relevant processes and structures are being analysed and evaluated in order to identify the best solution in each case.

The title of the implementation project “Energising the Future – Once Together” underlines its objective. By pooling our resources, we can achieve a joint operating model ensuring competitive and efficient business processes based on best practice principles, as well as cost savings, at our group of companies. This way, we are laying foundations for the successful implementation of the growth strategy formulated within MVV 2020.

On 13 October 2009, the Federal Networks Agency (BNetzA) presented its 2009 Monitoring Report to the public. Accordingly, competition in the German electricity and gas markets gained further momentum in 2008, with increasing numbers of companies offering electricity as well as gas products to households outside their own regions and nationwide.

Over and above the factors outlined in the group management report, the economic and financial crisis has not had any further material implications for the net asset, financial and earnings position of the Group since the end of the financial year.