BKW FMB Energy Ltd Annual Report 2003

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Stronger position in Italy and Germany BKW’s two sales subsidiaries, Electra Italia of Milan (I) and BKW Energie GmbH of Kelkheim (D) also posted successful results in the year under review, increasing revenue from sales to industrial customers and expanding their customer base even further. Sales to intermediaries in the Italian and German markets also increased year-on-year. The creation of a regulatory authority in Germany, scheduled to begin operations in mid-2004, is expected to result in lower network fees and improved competitition conditions. BKW eagerly awaits the launch of Italy’s energy exchange and the new procurement options this will offer. 22 Fostering partnerships BKW acts as a partner to its customers in the international business as well as in the home sales territory. In 2003, new products and energy services were added to the product portfolio for trading partners, industrial customers and resellers in international markets. BKW also activated an online service platform for e-commerce transactions. The platform supports end customers by providing a range of energy management products. BKW’s partnership model with resellers goes beyond the mere delivery of electricity and gas; it also provides additional related services designed to generate long-term benefi ts for its customers.
Sales Partnership in action – the foundation of success BKW pursues a strategy based on viable partnership models rather than cut-throat competition. The aim is to be more than a mere supplier of power, and to offer customers interesting services tailored to their individual needs. Positive growth for Youtility Created in 2000 on the initiative of BKW and the Association of Bernese Electricity Suppliers (BEV), the Youtility AG sales partnership of regional and local power supply companies in the cantons Berne, Solothurn, Jura, Fribourg and Basle Country, is gaining in importance. In the year under review the number of members increased to over fi fty. As before, the attractiveness of Youtility is based on its joint marketing of products and services under the “1to1 energy” brand. The success and dynamism of this partnership model are due in no small measure to consistent implementation of the principles adopted by all members: tailor-made customer solutions and the autonomy of partner companies. Youtility partners can draw on synergies to offer products and services developed under the umbrella “1to1 energy” brand. Simultaneously, the partnership upholds and enhances the close relationships forged between regional suppliers and their customers. Highly attractive model Attracted by a model in which partners exploit synergies arising from shared market activities while maintaining their corporate autonomy, AEK Energie AG of Solothurn and the Stadtwerke Grenchen (SWG) joined the Youtility consortium in the year under review. By acquiring new partners in the canton of Jura, Youtility also gained an important foothold on the other side of the linguistic border and, by so doing, enhanced its position as Switzerland’s leading marketing platform for power suppliers. Price benefi ts for customers In the year under review, BKW once more expanded its product portfolio with additional attractive offerings. On 1 October 2003 BKW launched “1to1 energy modulo”, a product that offers price benefi ts to small and medium-sized enterprises purchasing between 20 and 1,000 MWh. These price reductions, coupled with price benefi ts for households scheduled for 2004, amount to some CHF 50 million. BKW is also passing on to customers the benefi ts gained from optimised operating processes and related cost savings. In so doing, it strengthens the economic power of customers and partners and enhances the attractiveness of participating cantons as centres of commerce. Eco-power products As an innovative enterprise, BKW has for many years been committed to promoting renewable energies. Eco-power products such as “1to1 energy water star” and “1to1 energy wind star” have long been part of its product portfolio. The long hot summer of 2003 resulted in a notable production record for Switzerland’s largest solar power plant in the Bernese Jura. The Mont Soleil solar power plant, the Juvent SA wind power plant on Mont Crosin and the planned solar power installation on the roof of the new “Stade de Suisse” stadium in Wankdorf/Berne, will provide future access to eco-power for a growing number of private and business customers. 23
Page 1 and 2: BKW FMB Energy Ltd Annual Report 20
Page 3 and 4: Contents 2 Foreword Partnerships st
Page 5 and 6: The challenges facing energy policy
Page 7 and 8: Strategy Partnerships and continual
Page 9 and 10: Broad-based production plant Thanks
Page 11 and 12: Board of Directors (at 31.12.2003)
Page 13 and 14: Market Switzerland’s electricity
Page 15 and 16: Energy Policy Clear Federal Court r
Page 17 and 18: Future of nuclear power assured Whi
Page 19 and 20: Production Generating power by part
Page 21 and 22: BKW electricity In the year under r
Page 23: Trade BKW - a competent and reliabl
Page 27: Networks Guaranteeing network relia
Page 30 and 31: Financial Review Sales and profi t
Page 32 and 33: Consolidated Financial Statements o
Page 38 and 39: 3 Principles of accounting and valu
Page 40 and 41: interest expenses. These are fi nan
Page 42 and 43: 40 8 Financial result CHF (million)
Page 44 and 45: 11 Property, plant and equipment CH
Page 46 and 47: 13 Non-current fi nancial assets CH
Page 48 and 49: 46 16 Accounts receivable CHF (mill
Page 50 and 51: 18 Provisions CHF (million) Nuclear
Page 52 and 53: 50 22 Pension obligations The statu
Page 54 and 55: 52 25 Related parties The following
Page 56 and 57: List of Participations Subsidiaries
Page 58 and 59: Financial Statements of BKW Income
Page 60 and 61: Financial Statements of BKW Notes a
Page 62 and 63: 60 8 Bond issue in 1,000 CHF 31.12.
Page 64 and 65: Report of the Statutory Auditors 62
Page 66 and 67: 64 Appropriation of retained earnin
Page 68 and 69: 66 Signifi cant shareholders In a s
Page 70 and 71: 68 3 Board of Directors Information
Page 72 and 73: 70 AG und Genossenschaft, Jungfraub
Page 74 and 75:
72 - - - - - - - - The Audit Commit
Page 76 and 77:
74 4 Executive Board and Extended E
Page 78 and 79:
76 The members of the Board of Dire
Page 80 and 81:
78 Entries in the shareholder regis
Page 82 and 83:
Addresses BKW Head Offi ce BKW FMB
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BKW FMB Energy Ltd Annual Report 2003

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