Full of Energy - Energie AG Oberösterreich

ANNUAL REPORT2007/2008GlossaryTHE GROUPGROUP MANAGEMENT REPORTTHE ENERGY SEGMENTTHE WASTE MANAGEMENT SEGMENTTHE WATER SEGMENTCONSOLIDATED FINANCIAL STATEMENTS140●●●●●●●●●Automatic Meter Management (AMM)AMM is a system for the automatic recording ofelectricity consumption data in households, with apossible extension of the automated network sys -tem, which can also integrate other media such asgas, water and heat. At Energie AG, AMM wasbuilt up with the project name of AMIS (AutomaticMetering and Information System).Base loadBase load refers to a constant performance profileover a defined period in energy trading.Bio-gas plantA bio-gas plant is used to produce bio-gas from biomass(e.g. bio-waste, slurry, sludge, fats, cereals,corn). Biogas, which is used to produce electricityand heat, is derived from these primary materialsby means of anaerobic fermentation and decomposition processes.Biomass power plantIn a biomass power plant, electric energy and/orheat is produced by burning biomass (e.g. woodchippings, wood pellets, cereals, straw, bio diesel,bio gas).Capital employedOn the asset side, capital employed is calculated onthe basis of fixed assets and current assets, minusno-interest-bearing liabilities, or – on the liabilityside – on the basis of equity, plus interest-bearingborrowed capital, minus liquid funds.Cash flow from operationsThe cash flow from operations is the inflow (outflow)of cash generated by the operating businessactivities.CNG (compressed natural gas)CNG is compressed natural gas which is also usedas a fuel for vehicles, as it is a fossil energy source.CO 2 certificates marketTrading in emission rights between countries andcompanies is one of the main instruments laiddown in the Kyoto Protocol. In this context, everyyear, the state issues a limited number of emissioncertificates, which is fixed in advance, to all companiesparticipating in emission trading so thatthe companies are induced to take modernizingmeasures, i.e. to apply production process withhigher energy efficiency, and/or to buy additionalemission rights.Co-generationCo-generation is the production of electrical energyand heat in a combined process. Co-generationhelps to obtain a higher rate of fuel utilization thanwhen only producing electricity.●●●●●●●●●●●Combined-cycle gas turbine (CCGT)power stationA combined cycle gas turbine power station is athermal power station where a gas-turbine and asteam-turbine process are connected in series inorder to increase the conversion rate. The hot fluegases from the gas turbine are used to producesteam in a steam boiler, from which electricity andheat are generated.Consolidated groupThe group of consolidated companies comprises allcompanies that are included in the consolidated financialstatements. This requires that the parent companyhas a controlling influence in these companies.EBIT (earnings before interest and taxes)The EBIT is the result of operations.EBIT adjustedEBIT adjusted is the result of operations adjusted forone-off effects.EBIT marginThe EBIT margin is the share of the EBIT (in per cent)in sales.EBITDA (earnings before interest, taxes,depreciation and amortization)The EBITDA is the result of operations before thedepreciation and amortization of tangible fixedassets and intangible assets.EBITDA adjustedEBITDA adjusted is the EBITDA adjusted for oneoffeffects.EBITDA marginThe EBITDA margin is the share of the EBITDA (inper cent) in sales.E-Control GmbHThe legislator set up E-Control GmbH on the basisof the law on energy liberalization. The companytook up its operations on 01 March 2001. E-ControlGmbH has the task of monitoring and accompanyingthe liberalization of the Austrian electricityand gas market, as well as to intervene by regulatoryaction, if necessary.Efficiency rateThe efficiency rate is the ratio between primaryenergy input and generated useful energy.Energy efficiencyEnergy efficiency refers to the relation betweenuse and input of energy = the efficiency of the useof energy. The higher the value, the lower are theenergy losses, and the more economical is the useof energy.●●●●●●●Equity ratioThe equity ratio expresses the share of equity in thebalance-sheet total.EU Energy Efficiency DirectiveDirective 2002/92 EC of the European Parliamentand Council on the energy performance of buildingsof 16 December 2002 introduced the term energyefficiency.EU Framework Directive on WasteEU Directive 75/442/EC on Waste was suspendedand replaced by Directive 2006/12/EC of the EuropeanParliament and Council of 05 April 2006.The main aspects of the Framework Directive onWaste are a uniform waste terminology, recordingand notification obligations, a hierarchical orderfor waste prevention, processing and disposal,self-suf ficiency of waste disposal in the EuropeanUnion and the preparation of waste managementplans. In the course of amending the FrameworkDirective on Waste, a major new orientation ofthe Framework Directive on Waste was adoptedon 17 June 2008 striving for a sustainable wastepolicy.FTE (full-time equivalent)FTE is a value for comparison used in human re -sources management – full-time worker. FTE ex -presses the time value of a worker within a timeperiod. Part-time workers are thus considered ona pro-rata basis.Futures marketA collective term for an institutionalized wholesalemarket, on which deals are traded and entered ona longer-term basis and/or over longer periods (e.g.month, quarter, year) on electricity and natural-gasmarkets. The futures market can be found on stockexchanges and OTC markets.GATS(General Agreement on Trade in Services)GATS is an international, multilateral agreementof the World Trade Organization which has theobjective or regulating cross-border trade in services,as well as its progressive liberalization.GDP (gross national product)GDP is a measure for the economic performanceof a country during a certain period of time. GDPis considered as the sum total of products andservices that were produced by a country’s eco n o -my within one year and are used by end consumers.GDP realReal GDP is the sum of domestic value added forwhich all goods and services are valued at the pricesof a base year.●●●●●●●●●Geothermal energyGeothermal energy is the heat stored in the accessiblepart of the earth’s crust. On the heating marketit is used both for heating and cooling; it alsoused to produce electricity, or for power and heatco-generation.Heating degree daysHeating degree days are based on the assumptionthat heating is required under a defined outsidetem perature (e.g. 15° C) in order to obtain an in -door temperature of 20° C. Heating degree daysare the sum total of the daily difference betweenthe mean room temperature of 20° C and the meanoutside temperature. A heating day is defined asa day on which the mean daily temperature is be -low a defined temperature (e.g. 15° C).HedgingHedging is a deal to secure a transaction againstrisks (e.g. exchange-rate risk fluctuations or changesin primary material prices).Incentive-based regulationIncentive-based regulation is a regulation systemof the authorities in order to implement cost re -ductions concerning the remunerations paid forelectricity and gas networks, and to thus increasethe assumed efficiency potentials of gas andelectricity network operators, as well as to passthem on to market participants in the form ofprice re duc tions. To this end, ceiling values for re -munerations or revenues are imposed upon networkoper ators.IPO (initial public offering)One speaks of an initial public offering when sharesare offered to interested investors for the first time.ISPA (instrument structurel de pré-adhésion)Next to Phare and Sapard, ISPA is a financingins trument for structural policy projects in order toprepare for EU accession.Kyoto ProtocolThe Kyoto Protocol, which went into force in 2005,is an agreement with binding objectives underin ternational law concerning the emission of greenhousegases.Maastricht criteriaThe Treaty on European Union establishes the socalledMaastricht criteria, which EU members mustmeet if they want to join the European MonetaryUnion. They include, for example, price-level stabi l-ity and the financial condition of the public sector.Net gearingNet gearing is the ratio between net indebtednessand equity.141