Consolidated Financial Statements of the Stadtwerke Leipzig Group ...

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3.2.5 Personnel risks Personnel risks are caused mainly by fluctuation among employees in key positions. These risks are assessed by regular employee surveys and staff-appraisal interviews; they are reduced by systematic medium-term competency planning and staff development. Furthermore, a strategic core measure of staff development in the Stadtwerke Leipzig Group deals with personnel marketing and retention instruments. 3.2.6 IT risks Availability risk: The failure of IT systems over a critical period of time can impair essential business processes and cause economic damage. Stadtwerke Leipzig protects itself from this risk by concluding agreements on availability with the operators of the IT systems in line with the importance of the respective IT system. Technical and organisational measures are regularly reviewed in consultation with the operators. Confidentiality risk: Stadtwerke Leipzig pro - cesses personal data in its IT systems, for example in the form of customer data. This data requires appropriate technical and organisational protection measures. These have been taken accordingly and are regularly reviewed. Integrity risk: Economic damage can be caused, for example, by the manipulation of data that is processed in IT systems. This risk can be precluded by effective authorisation concepts, among other methods. Overall, these risks are countered by regular investments in hardware and software, as well as complementary organisational measures. 3.2.7 Production risks Stadtwerke Leipzig GmbH invests in and operates complex technical plants to promote its business development. The company’s use of technological production plants exposes it to risks of equipment failure and loss of output. Permanently maintaining the high quality standard of these plants and ensuring that they are operated by qualified members of staff is of key importance for Stadtwerke Leipzig GmbH. In order to avoid potential risks in this field, the members of staff deployed there are integrated into a continuous training system to consolidate and extend their high level of qualification in the field of security-relevant measures. Furthermore, the effects of potential damage or loss are substantially limited by corresponding insurance policies. 30 | Annual Financial Statements of Stadtwerke Leipzig GmbH
Report of the Supervisory Board Management report of Stadtwerke Leipzig GmbH Business climate and general conditions Income situation, fi nancial position, net worth position Risk report Forecast report Annual fi nancial statements Notes to the fi nancial statements of Stadtwerke Leipzig GmbH List of abbreviations 04 05 05 12 25 31 36 40 64 3.2.8 Overall risk We are currently not aware of any risks that could prejudice the continued existence of Stadtwerke Leipzig GmbH. 4 Forecast report 4.1 Future economic conditions and industry outlook Climate protection at the focus of political debate: The future development of general energy policies will significantly impact on the further development of the energy industry. The German government’s energy plan for 2010 aims to lay the foundations for a clean, reliable and affordable energy supply. In particular, it is not yet clear what effects the proposed extensions of the service lives of nuclear power stations will have on the structure of power generation and competition. In addition to the political objective of continuing resolutely expanding power generation using renewable energies and maintaining the unlimited priority of renewables as a power source, the amendment of the Renewable Energies Act (EEG) is to be brought forward by a year, putting it high on Germany’s political agenda. This will mean adjustments to the statutory feedin tariffs. Potential areas for emissions-reducing targets are becoming visible both in the heating market and in the design of energy-efficient buildings, and these will have an impact in the years to come. Subdued price development on the commodity markets: The current financial crisis and associated recession fears are curbing the prices of fuels, electricity and CO 2 and, at least in the short term, easing production costs in many sectors. In the long term, electricity prices can be expected to start rising again due to the development of the prices of fuels and CO 2 certificates and the continuing shortage of generation capacity. Balancing the extra costs caused by the Renewable Energies Act: With effect from 1 January 2010, the Federal Government enacted an ordinance under the Renewable Energies Act (EEG) to replace the previous physical delivery of renewable electricity to power distributors with a system that simply reallocates the extra costs caused by the EEG via a redistribution mechanism. The idea now is that renewable energy purchased by the transmission system operators (TSOs) will be sold on the exchange. As a result, electricity suppliers no longer have to buy any more EEG power bands as from January 2010. Instead, the entire demand for electricity has to be purchased in the market. Instead of being obliged to purchase EEG power bands at the average EEG price, the electricity suppliers must pay a fixed EEG cost allocation in cents per kWh. The allocation for the following calendar year must be fixed by the TSOs by the 31 October each year. The Annual Financial Statements of Stadtwerke Leipzig GmbH | 31
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