This challenging environment provides new opportunities for powerful and broadly positioned market players. The cornerstone of our current and future success is our strong, integrated business model, which adds substantial value. We cover all of the major stages of the energy value chain: In the field of electricity, we are not simply a generator, but a trader, network operator and sales company as well. We are also active at all value-creation stages in the gas sector, from the well to the end customer. Thanks to this structure, we can flexibly offset market fluctuations in individual areas.