With all that, who can wonder that the energy industry – from utilities to providers of equipment for generating renewable energy to energy consultants – has its hands full with reorienting its core business to the future.
Opportunities to profit from feeding energy into the grid and distributing it, as well as from operating the grid, must be expected to dwindle. At the same time, foreign competition has placed the renewable energy market – especially in solar energy – in a difficult position. There is some question whether the punitive customs duties introduced by the EU Commission will be enough by themselves. As a consequence, many companies will be looking into cooperative arrangements to tap new areas of the market.
To handle these challenges, they need reliable partners at their side. We’ll be happy to provide the expertise we’ve gained from advising and assisting a great many companies in the energy industry. With knowledge of concerns specific to the industry, the requirements of energy law, and the tax environment, our interdisciplinary team of accountants, auditors, attorneys, tax advisors and corporate consultants can help you find expert, practical solutions.
Our services at a glance
- Single-entity and consolidated annual financial statements under the German Commercial Code and IFRSs for companies in the energy industry
- Independent business review and financial fact books
- Financial, tax and legal due diligence
- Advising on IFRS issues specific to the industry
- Assistance with accounting reviews by the Financial Reporting Enforcement Panel (FREP) and special reviews
- Tax-optimized structuring of corporate groups in energy production
- Assistance with IPOs
- Cross-border investments
- Preparation of electric power tax returns
- Monitoring and advising on special issues concerning value added tax (e.g., direct marketing, market and flexibility bonus, reverse charging, adjustments under the Renewable Energy Act)
- Assistance with stress tests and preparation of the necessary scenario calculations
- Profitability calculations for decisions on investing in energy generating units (e.g., wind farms, solar farms)
- Reviews of applications for limits on reallocation under Sec. 41(2) of the Renewable Energy Act for companies and independent corporate units (also under Sec. 41(5) sentence 4 of the Renewable Energy Act)
- Analysis and optimization of energy and electricity tax impact for companies in the manufacturing industry, especially assistance with refund procedures for electricity and energy taxes