Annual report 2008/09 - Axpo Group

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Axpo is convinced of the benefi ts of renewable energies and will invest three billion Swiss francs in their development by 2030. But we need to be realistic – given their limited potential, new renewable energies can only play a supplementary role in the Swiss electricity mix for the next 50 years. Energy carriers are renewable if their resources are available in unlimited quantities. Some natural energies constantly renew themselves. Renewable energies include hydropower, biogas, solid biomass (wood), geothermal energy, wind power and solar energy. Today, 57 % of Switzerland’s electricity already comes from renewable energies, mainly from wellestablished hydropower. Power plants with an output of more than 10 megawatts are classifi ed as large-scale hydropower plants. Newly built power plants above this limit are not classifi ed as new renewable energies. In Switzerland, currently only 1 % of electricity is generated from such new renewable energies. In 2008, the Federal Council defi ned an ambitious objective in its action plans for the promotion of new energies and the increase of energy effi ciency: by 2030, about 10 % of electricity consumption in Switzerland should be covered by new renewable sources. The theoretical potential of new energies is limited Theoretical potential of new energies in Switzerland after 2050, not including costs or spatial planning considerations in billion kWh 0 1,9 3,8 5,9 4,2 5,3 10 17,5 Small-scale hydropower Geothermal energy (this technology is still at the research stage) Biogas Solid biomass Wind Photovoltaics Source: Axpo, Stromperspektiven 2020 20 The Desertec vision: giant solar power plants in the North African desert to produce electricity for Europe. Electricity from the desert This vision is as attractive as it is scintillating: an international consortium is planning to use the Sahara sun as a CO2-neutral source of energy for Africa and Europe. Known as “Desertec”, the project envisages the construction of giant solar energy plants in the North African desert to produce more or less unlimited energy, which will be transported to Europe practically without loss via modern highvoltage direct-current transmission lines. Desertec plans to be in operation by 2050. It is still unclear, however, in what countries the plants can be erected and how the project, estimated at EUR 400 billion, should be fi nanced. There is also the matter of dependence on politically unstable countries. More at www.desertec.org Geothermal energy – energy from the interior of the earth In Switzerland, the temperature at a depth of 5000 metres is around 200 degrees Celsius. Geothermal energy uses this ground heat, which is mainly produced by the radioactive decomposition of longlived isotopes, to generate energy. The underlying technology involves boring into these rock formations and setting up a water circulation system by means of a second bore hole. On the surface, the hot water and steam mixture is passed through heat exchangers to generate electricity and heat. Although the potential for geothermal electricity in Switzerland is enormous, the fi rst Swiss project in Basle was abandoned as the exploration drilling caused unexpectedly strong tremors. This shows that the technology is still at the research stage and that there are uncertainties regarding its feasibility. A second project has been in progress in Zurich since October 2009, involving exploratory drilling for the use of geothermal heat at the foot of the Uetliberg. How deep heat mining works – using a deep geothermal reservoir to generate electricity and heat. Illustration: Siemens
Illustration: Geopower Basel AG Limited domestic potential In any country, the potential harboured by new renewable energies for the supply of electricity depends on factors such as climate, topography and population density. Switzerland has traditional advantages in hydropower, while the potential for wind energy and solar energy is limited by their very nature. Biogas and solid biomass can also already be used in Switzerland. Theoretically, the potential for geothermal energy is very high, but this technology is not yet secured. A dependable assessment cannot be made until a pilot plant has been operated reliably for at least one year. Although the renewable energies generally have a great deal of appeal, the actual construction of power plants is often a problem – small-scale hydropower projects, for example, often meet with resistance from water conservation lobbies and fi sheries. Wood-fi red power plant projects are also sometimes opposed by local residents, usually because of the height of the chimney or concerns about smoke pollution, while wind power plants are often resisted by landscape protection lobbies, and the installation of solar panels on house roofs in central urban zones can also be problematic. Axpo is making a difference Axpo has been offering Axpo natural electricity (“Naturstrom”) for several years, in particular from large- and small-scale hydropower plants and from the Axpo Kompogas biogas plants. Axpo has also set up a green electricity fund to further promote its natural electricity. This fund supports innovative projects in the fi eld of renewable energies by contributing to research and development, pilot or demonstration plants and studies. Axpo is convinced of the future of renewable energies and supports the objectives of the Federal Council. In order to consolidate its market leadership in this fi eld, Axpo will invest CHF 3 billion by 2030 in the promotion of renewable energies and the associated expansion of production capacities in Switzerland and abroad. In Switzerland, the focus falls on the generation of base load energy, in particular from small-scale hydropower and biomass facilities, extending in the longer term to geothermal energy. The emphasis abroad is on wind power, small-scale hydropower and biomass projects. 4 4 5 1 2 6 1 3 8 7 District heating grid Electricity grid 1 Probe drilling at various depths 2 Injection drilling to transfer cold water to lower depths 3 Fracture in crystalline bedrock 4 Production drilling to transfer heated water to the surface 5 Heat exchangers 6 Turbine house with generator for electricity production 7 Cooling of generator cycle (water cooling) 8 Cooled water returns to the earth Sediment Crystalline 6000 m Axpo Kompogas transforms organic waste into energy Biogenic waste, whether organic matter from gardens or domestic and commercial kitchen scraps, is an excellent energy source. With the innovative Kompogas process, biomass is fermented in an anaerobic environment in an enclosed reactor, producing compost and biogas. The biogas is fed into packaged combined heat and power plants, where it is either transformed into electricity, fed into the natural gas grid or used as biofuel. Around 14 million kilowatt-hours (kWh) of electricity are produced by the Axpo Kompogas plants in Switzerland, and this fi gure is set to increase. Axpo Kompogas will soon be one of the leaders in the production of electrical energy from biomass in Switzerland and Europe. In order to consolidate its market leadership in new renewable energies, Axpo will invest CHF 3 billion by 2030 in expanding the relevant production capacities in Switzerland and abroad. Revitalization of small-scale hydropower plants Small-scale hydropower plants with an output ranging from a few kilowatts to a maximum of 10 megawatts produce climate-friendly electricity and have a negligible impact on the natural environment. Accordingly, electricity from small-scale hydropower generally meets with a high level of acceptance. While around 7000 small-scale hydropower plants were in operation in Switzerland a hundred years ago, the number has since dropped to about 1000. Axpo is committed to the revitalization of disused plants in its supply area.
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 and 22: Electricity prospects In the fi nan
Page 23 and 24: Bettina Baer, 19, plays in the wome
Page 25: Renewable energies How we are inves
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 60 -
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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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