Annual report 2008/09 - Axpo Group

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Annual Report Axpo Holding AG 18 – 19 Editorial / 2–3 Interview with the CEO / 4–6 Strategy / 8–10 Markets and perspectives / 12–18 Success factors / 22–29 Corporate governance / 32–47 Annual report / 50–65 Domestic capacity is a clear priority for Axpo as far as supply to Switzerland is concerned. Security of supply cannot be guaranteed by imports alone. Questions regarding the future supply of electricity to Switzerland should be clarifi ed through a broad dialogue involving all sectors of society. As a company owned by the cantons of Northeastern Switzerland, Axpo will continue to play a leading role in this dialogue. Axpo is also making a great effort to ensure optimum energy effi ciency within the Group. This applies to production facilities and grids as well as to internal processes and buildings. Due to the higher residual fl ow requirements and climate change, which will lead to an irregular supply of water, hydropower output can only be expanded to a limited extent. Axpo is continually working on optimizing its existing plants to compensate for these external factors. Increasing output, as with the expansion of the Linth-Limmern power plant to create a pumped-storage plant, ensures that the growing demand for peak-load energy can be satisfi ed. Axpo has become the leading provider of renewable energies in Switzerland, thereby also diversifying its production mix. It will invest approximately CHF 3 billion in this programme by 2030. Axpo invests both abroad and in Switzerland, where it acquires shareholdings in the smallscale hydropow er and biomass sectors. With this strategy, it has already built up a strong portfolio of new renewable energy capacity. In the interests of long-term security of supply, Axpo intends to replace the nuclear power plants at Beznau and Mühleberg and the supply contracts with Electricité de France, which will start running out from 2016, with two new nuclear power plants in Switzerland. At the end of 2008, Axpo and its partners from the energy sector took the fi rst steps by submitting the relevant applications for general licences. Taking account of all approval procedures and the whole political process, it should take around 15 years before the plants are commissioned. Domestic capacity is a clear priority for Axpo as far as supply to Switzerland is concerned. Security of supply cannot be guaranteed by imports, as grid capacity for imports is limited and expensive. To this it must be added that in future many coun- tries of Europe will have to cope with power supply shortages. Dialogue with the public The “Electricity Prospects 2020” study triggered discussions on the future of power supply in Switzerland. It is well-known and the subject of much discussion in professional circles, the media and the general public. It is in Axpo’s interest to support the opinionforming process and a well-informed energy dialogue among the population. This dialogue should take place at all levels, among all interested groups and through various channels.
Bettina Baer, 19, plays in the women’s team of FC Zurich. Her dream is a permanent place on the national team. “Energy is crossing the boundaries.”
Page 1 and 2: Energy is the future Annual Report
Page 3 and 4: Key fi gures Finances 2008/09 in CH
Page 5 and 6: Table of contents Energy is the fut
Page 7 and 8: Milestones in infrastructure expans
Page 9 and 10: effi ciently. Competitors can be co
Page 11 and 12: “Energy is dreaming.” Flavia Ma
Page 13 and 14: As a company owned by the cantons o
Page 15 and 16: “Energy is there to make our live
Page 17 and 18: Energy policy Uncertain trends in f
Page 19 and 20: Energy market The global economic c
Page 21: Electricity prospects In the fi nan
Page 25 and 26: Renewable energies How we are inves
Page 27: Illustration: Geopower Basel AG Lim
Page 30 and 31: Annual Report Axpo Holding AG 22 -
Page 34 and 35: «Energie ist die Sonne.» “Energ
Page 38 and 39: PRO: ARGUMENTS IN FAVOUR The protec
Page 40 and 41: Axpo is dedicated to climate protec
Page 43 and 44: CONTRA: ARGUMENTS AGAINST Warnings
Page 45 and 46: Group structure and shareholders Gr
Page 47 and 48: Dr. Wulf Glatz, 35, won the 2009 Sw
Page 49 and 50: vis-à-vis third parties and deals
Page 51 and 52: ility, the strategic energy busines
Page 53 and 54: Axpo also has several tools on hand
Page 55 and 56: Corporate bodies and Group function
Page 57 and 58: Peter Reinhard Member of the Board
Page 59 and 60: Executive Board Heinz Karrer Chief
Page 61 and 62: Mobility What will get us moving in
Page 63: Public transport consolidates its p
Page 70 and 71: “Energy is, when I’m healthy.
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Annual Report Axpo Holding AG 56 -
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PRO: ARGUMENTS IN FAVOUR If we are
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Electricity from nuclear energy is
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CONTRA: ARGUMENTS AGAINST Nuclear e
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Balance Sheet 30.9.2009 (condensed)
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Minergie A registered quality label
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Conventional power plants • 1 KKB
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Publishing details Published by Axp
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Annual report 2008/09 - Axpo Group

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