Unbundling |
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| Solution area >> | Successful corporate unbundling | |
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| EU-Directive 2003/55/EU of 26 June 2003 compels most of the integrated gas corporations to be legally unbundled by the 1 July 2004 (specific transitional provisions apply). Smaller distribution network operators may be exempt from unbundling provisions by national law or be allowed an extended transition time until 1 July 2007 respectively. | ||
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Implementing unbundling provisions is a complex juridical procedure but also raises several structural questions. | |
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| Basic unbundling questions deal for example with: | ||
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 determination
of system limitations (what must be/may be/will be unbundled?) |
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| the
structural design of balance sheets of the newly founded subsidiaries |
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| calculation
of transfer prices in accordance with both compulsory regulations and
corporate targets |
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| maintaining
corporate synergies in consideration of impending tendering obligations |
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| scope
and limitations of management control over unbundled subsidiaries by the
parent company |
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| how
to fulfil unbundling criteria according to the EU directives or applicable
national law |
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| Juridical unbundling issues regard obligations of the fiscal law in connection with the re-establishment of businesses, processing (mostly necessary) spin-offs, regulations of labour legislation in connection with transition of personnel, questions emerging in connection with the transition of currently running contracts to spin-offs, etc. | ||
| Wagner, Elbling & Company promote the unbundling process by providing project management and by developing recommendations regarding the organisational structure. | ||
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| Within the first stage of project management a complete list of both structural and juridical issues, to be solved during the unbundling process is established, with the assistance of our clients and their legal department (or their legal adviser). Subsequent to this, a structured project plan based on these issues and on time limits is to be developed. Task forces are also put into place. Project progress is ensured by consistent project controlling. | ||
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| In addition to project management, we enable management to solve complex structural questions by preparing feasible decision alternatives; recommendations for the management team are compiled. | ||
| Wagner, Elbling & Company provide unbundling-specific know-how and profound project management experience, acquired in big reorganisation projects, particularly spin-offs. | ||
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