Q1 2022 EVN AG Earnings Call Transcript
Good morning, ladies and gentlemen, and welcome to the Conference Call on EVN's Results for the First Quarter of 2021/'22 Financial Year. (Operator Instructions)
Let me now turn the floor over to your host, Mr. Stefan Szyszkowitz.
Good morning, and welcome to the Conference Call on EVN Results for the First Quarter of the 2021/'22 Financial Year. The developments in the energy market during the past month took many energy expressed by surprise. Within an unbelievable short period of time, market prices for natural gas, CO2 emission certificates and electricity reached historic highs. Due to our diversified business model, this market distortion had different effects on our various activities, whereas renewable generation benefited from higher prices, there were negative impacts on the procurement side.
EVN KG, our Austrian supply company, already reacted to higher procurement costs and passed them on to customers. For electricity, higher end customer prices became
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