Wiener Stadtwerke Annual Report 2012

Development of electricity prices
DEVELOPMENT OF ELECTRICITy PRICES/SPOT MARKET
in EUR/MWh
63.5
50.1
42.9
53.5
Jan. 11 Jul. 11 Jan. 12
Jul. 12 Dec. 12
Peak
Base
18 Annual Report 2012 | Consolidated Management Report
53.8
35.5
Source: Base/Peak (EEx market price monthly average)
The late but severe onset of winter in Europe led to the spot
prices shooting up in February 2012 and put an abrupt end to
the downward trend on energy exchanges which had begun in
November 2011. As the cold period subsided in March 2012,
futures again returned to the level seen in January. In autumn
2012, the spot prices again rose slightly, albeit not to the level
seen in the prior year. This was followed by a sharp decline in
prices in December. The reason for this was the negative prices
on the seasonal public holidays which had a significant impact
on the average monthly price.
Development of prices for CO 2 emission certificates
DEVELOPMENT OF CO2 CERTIFICATE PRICES
in EUR/t
14.2
8.4 6.2
Jan. 11 Jul. 11 Jan. 12
Jul. 12 Dec. 12
Source: CARBIx prices for CO 2 certificates, EEx
A decline in CO 2 certificate prices began in July 2011, as a
result of which the Environmental Committee of the European
Parliament proposed withdrawing 1.4 billion certificates from
the beginning of the third trading period. It remains unclear
whether these certificates will be permanently set aside or only
temporarily withdrawn (back-loaded). The aim of this step is to
at least temporarily force certificate prices higher. Following an
increase in prices at the beginning of the year, the development
of prices became more volatile and these fell to a level
well below that of the prior year. In fact, in a year-on-year
comparison, certificate prices halved.
KEy PERFORMANCE INDICATORS
production in gWh 2012 *) 2010/11 ± ±%
Electricity 6,653.8 6,772.2 -118.4 -1.7
Heat 7,424.3 5,449.6 1,974.7 36.2
Total production 14,078.1 12,221.8 1,856.3 15.2
Distribution in gWh
Electricity 13,889.4 11,467.9 2,421.5 21.1
Gas 28,295.0 24,350.5 3,944.5 16.2
Heat 8,365.6 6,402.4 1,963.2 30.7
Total distribution
sales in gWh
50,550.0 42,220.8 8,329.2 19.7
Electricity 12,018.0 9,338.9 2,679.1 28.7
Gas 10,732.2 8,434.0 2,298.2 27.2
Heat 7,669.7 5,706.0 1,963.7 34.4
Total sales 30,419.9 23,478.9 6,941.0 29.9
Fully and proportionally consolidated companies
*) Due to the change in the balance sheet date, the 2012 figures for the energy segment
relate to five quarters
The change in the balance sheet date and the resulting
presentation of five quarters in the 2012 financial year significantly
distorts comparisons with the prior year. Due to the
unfavourable circumstances prevailing in the energy sector, the
production of electricity – restated to exclude the fifth quarter
– was considerably lower than in the prior period.
Electricity production was mainly reduced in the thermal power
stations. The production of heat and sales, however, remained
at the levels seen in the prior year.
ELECTRICITy PRODUCTION 2012*)
in percent
(energy segment incl. equities)
2.1% Forest biomass
3.8% Wind power +
Photovoltaic
11.2% Hydro power
82.9% Thermal power
*) Due to the change in the balance sheet date, the 2012 figures for the energy segment relate
to five quarters
Thermal power stations
Wien Energie operates thermal power stations at three sites.
During the 2012 financial year, these plants accounted for
approximately 82.9 percent of total electricity production.
Natural gas is mainly used as the primary energy source
Hydropower
Wien Energie operates hydroelectric power plants with a total
output of 18.3 megawatts. In 2011, Wien Energie acquired a
13-percent stake in Verbund Innkraftwerke GmbH (Germany),
which operates 13 hydroelectric power plants with a total