Annual report 2008/09 - Axpo Group

Annual Report Axpo Holding AG
56 – 57
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
Read everything about the
Linthal 2015 expansion project
at www.axpo.ch under
“Hydro Energy/Knowledge/
Power plant projects”.
At the end of 2008, Axpo,
together with BKW, submitted
two applications for
general licences to replace
the Beznau and Mühleberg
nuclear power plants – a
fi rst important step towards
securing a climate-friendly
and cheap supply of electricity
for Switzerland.
Production of nuclear power
by Axpo AG in 2008/09
Beznau Nuclear Power Plant is wholly owned
by Axpo AG, while Axpo AG holds stakes of 25%
and 22.8% respectively in the partner nuclear
power plants at Gösgen and Leibstadt. Axpo AG
is also the managing partner of Kernkraftwerk
Leibstadt AG. Kernkraftwerk Leibstadt AG and
Kernkraftwerk Gösgen-Däniken AG publish their
own annual reports.
in million kWh
2716
2019
Total: 16 795
(Previous
year: 16 963)
5780
6280
EDF Park: power plant fleet
Electricité de France
KKB: nuclear power plant Beznau
KKL: nuclear power plant Leibstadt
KKG: nuclear power plant Gösgen
the output from plants with northern
catchment areas reached the long-term
average.
Axpo AG also invested in the
expansion of domestic hydropower capacity
in the 2008/09 fi nancial year.
At present, the most important expansion
project is Linthal 2015 with the
1000 MW Limmern pumped-storage
hydropower plant in the Limmernsee
and Muttsee area. After Canton Glarus
granted the building permit in July
2009, the Axpo directors and the directors
of the Linth-Limmern hydropower
plant gave the green light for the largest
hydropower project in Switzerland,
which Axpo will complete in collaboration
with Canton Glarus at a total cost
of CHF 2.1 billion.
Other projects in the reporting year:
− Pumped-storage facility at Tierfehd,
Canton Glarus: The new pumpedstorage
facility commissioned in mid-
May suffered serious damage to
its motor and generator in July 2009.
The repair work took several months.
− Rupperswil-Auenstein power plant:
The installation of the machine
groups for the weir power plant has
started. The plant will be commissioned
in spring 2010.
− Eglisau-Glattfelden power plant:
As part of the complete renovation
of the historic, listed Eglisau-
Glattfelden power plant, work on
the electro-technical systems has
started. The fi rst machine was decommissioned
in October 2008 and
removed for overhaul. A further
three machines will be overhauled
by the end of the current fi nancial
year. The overhaul of all seven machines
in the power plant will continue
until 2012. Axpo is making a
huge effort to maintain the historical
features of the old generator
casings.
To ensure reliable power plants with
high availability, Axpo Hydropower is
constantly carrying out maintenance
and renovation work on all its facilities.
The most important refurbishment
projects of the past fi nancial year include
the total overhaul of the Eglisau-
Glattfelden power plant and the Sedrun
underground machine aggregate centre
at the Vorderrhein power plant, the
replacement of the machine groups
of the Bavona plant at the Maggia power
plants, the construction of a gasinsulated
circuit breaker at Forces Motrices
de Mauvoisin, the upgrading
of the corrosion protection for the pressure
lines of ELIN SA, and the total
over-haul of the process control system
of Argessa AG.
Nuclear Energy division
At almost 17 billion kWh, the Nuclear
Energy division produced more than
half of Axpo AG’s electricity in the
2008/09 fi nancial year. With its own
nuclear power plants Beznau I and II
and shareholdings of 22.8 % in the
Leibstadt nuclear power plant and 25 %
in the Gösgen nuclear power plant,
Axpo AG owns more than one-third of
the total net nuclear power output
in Switzerland. In the 2008/09 fi nancial
year, almost one-third of the Nuclear
Energy division’s output was contributed
by electricity purchases from
French nuclear power plants.
In the reporting year, all of
Axpo’s own power plants and partner
plants achieved their usual high output
thanks to high load factors. The
Nu clear Energy division is responsible
for providing its own plants Beznau I
and II and the Leibstadt nuclear power
plant with nuclear fuel, transport and
storage con tain ers as well as the necessary
services.