Annual report 2008/09 - Axpo Group

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Milestones 2008/09 The boards of directors of Axpo and KLL gave the green light for the construction of the Limmern pumped-storage power plant. A total of CHF 2.1 billion will be invested in this hydropower plant, the largest in Switzerland. Axpo is fully cognizant of its social and political responsibility as an employer. The Group is training 345 apprentices for a future career. Green light for the project of the century The boards of directors of Axpo Holding AG and Kraftwerke Linth-Limmern AG (KLL) approved the largest investment in hydropower that has ever been made in Switzerland. For CHF 2.1 billion, Axpo, in collaboration with the Canton of Glarus, will expand the power plant in the Limmernsee and Muttsee region to a pumped-storage hydropower plant providing an additional output of 1000 megawatt. Expansion of new energies Axpo is improving its expertise in the conversion of green waste into energy. Via its subsidiary Axpo AG, it acquired a majority stake in Tegra Group, the largest operator of wood-fi red power plants in Switzerland, as well as in Genesys AG, which plans and builds biogas plants, primarily for the agricultural sector. CKW renews concessions CKW renewed its concession agreements, which govern its right of way on public property for the next 25 years, with a large number of municipalities. 62 of 79 municipalities have already approved the renewal. At the beginning of September, the Competition Commission announced that it is reviewing the concession process, as it should be checked if a public tender is required. The municipalities have to wait with signing the agreement until this review has been fi nalized. EGL focuses on wind power and gas With its acquisition of a Swedish wind power developer, EGL obtained access to a number of wind power projects in Northern Europe. In Germany it acquired a 24.1% stake in Wetfeet Offshore Windenergy GmbH, which is planning to build a wind farm along the North German coast with a total capacity of 400 megawatt. It also invested in a wind farm in Italy. In addition, EGL expanded its gas business by signing a number of important supply contracts. Applications for general licences submitted Together with BKW FMB Energie AG, the Axpo Group companies Axpo AG and Centralschweizerische Kraftwerke AG submitted the applications for general licences to replace the nuclear power plants at Beznau I and II and Mühleberg in December 2008. Nuclear Power Plant Beznau (NPP Beznau) celebrated its 40th anniversary with a large public event. Since it was commissioned in 1969, the NPP Beznau has been generating safe, reliable and practically carbon-neutral power that meets ten percent of Switzerland’s electricity needs. In this time, Axpo has invested approximately CHF 1.5 billion to constantly modernize its nuclear power plant. Axpo creates around 400 new jobs Axpo is fully cognizant of its social and political responsibility as an employer. The Group is training 345 apprentices for their future careers; this number is once again higher than in the previous year. Axpo is also for the fi rst time employing more than 4000 people. The total increase of approximately ten percent took place in all the Group’s divisions.
Table of contents Energy is the future Editorial 2 Interview with the CEO 4 The way forward Strategy 8 Markets and perspectives 12 Success factors 22 Corporate governance Corporate governance 32 Management structure 41 Board of Directors 44 Executive Board 47 Annual report 2008/09 Annual report of Axpo Group 50 Annual report of Axpo AG Group 52 Annual report of CKW-Group 59 Annual report of EGL Group 62 Annual report of Axpo Informatik AG 64 Abridged fi nancial report Financial overview 68 Glossary 70 Power plant fl eet 72 Overview of publications 74 Publishing details 75 Pro/Contra Renewable energies 20 Climate protection 30 Mobility 48 Nuclear power 66
Page 1 and 2: Energy is the future Annual Report
Page 3: Key fi gures Finances 2008/09 in CH
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 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
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Corporate bodies and Group function
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Peter Reinhard Member of the Board
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Executive Board Heinz Karrer Chief
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Mobility What will get us moving in
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Public transport consolidates its p
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Annual Report Axpo Holding AG 50 -
Page 68 and 69:
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“Energy is, when I’m healthy.
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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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