Annual report 2008/09 - Axpo Group

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Electricity from nuclear energy is a supporting pillar of the Swiss electricity supply system. As this not only keeps electricity prices low but also ensures low CO2 emissions, it is clear to Axpo that these benefi ts must be secured for the future – in Switzerland and worldwide. Hybrid cooling towers for Beznau and Mühleberg The replacement nuclear power plants at Beznau and Mühleberg will have increased output. Moreover, they will no longer need river water for cooling. Instead, cooling will take place by means of hybrid cooling towers which, at a height of approximately 60 metres, are substantially lower than “traditional” cooling towers such as the 150 metrehigh tower at Gösgen. They therefore do not spoil the landscape to the same extent. The second major benefi t lies in the fact that they release hardly any visible steam because the steam is mixed with dry, warm air. From nuclear power plant to recycling When they are removed from the reactor after three to four years’ service life, spent fuel rods contain only 4 % radioactive waste, while the remaining 96 % of the fuel can still be used as nuclear fuel. The re-usable nuclear fuel is separated from the highlevel radioactive waste at reprocessing plants, such as the plant at La Hague in France, and is available again for electricity generation. The fi ve Swiss nuclear power plants have an annual output of around 25 billion kilowatt-hours of electricity, thereby cover - ing 40% of Swiss electricity production. Nuclear energy is not only extremely competitive – current production costs amount to approximately 6 cents per kilowatt-hour of electricity – but it is also very climate-friendly. If we consider the CO2 output for the whole cycle from the mining of the uranium to the disposal of the radioactive waste, nuclear energy comes second only to hydropower. If the electricity produced in Switzerland by nuclear energy were to be generated in modern gas-fi red combined cycle power plants, the same volume of CO2 would be released into the air as is currently emitted by all the car traffi c in Switzerland. Replacement nuclear power plants urgently needed Switzerland is likely to see a power supply shortage from 2020 onwards, when the oldest nuclear power plants at Beznau and Mühleberg will reach the end of their operating lives and important electricity import contracts with France will start running out. The foreseeable supply shortage can only be countered by replacing the existing nuclear power plants. As Axpo would like to secure this cost-effective and low-CO2 supply of electricity for its customers in Switzerland, it submitted the relevant applications for general licences at the end of 2008. Advanced third-generation reactors with even better safety features, greater effi ciency and operating profi tability will be used in the replacement nuclear power plants to be built on the present sites. Uranium reserves will last for a long time According to the Organization for Economic Cooperation and Development (OECD), the known uranium reserves that are commercially recoverable will last for another 100 years at current consumption rates. The map shows the distribution of these reserves. The speculative reserves for conventionally-mined uranium will last for more than 300 years. Source: OECD/IAEO, “Red Book”, 2007 329 339 Canada USA 157 Niger 243 Brazil Namibia 176 Ukraine 135 284 Kasakhstan 72 378 172 Uzbekistan 46 Mongolia 44 Jordan 49 China 49 India South Africa Australia 725 Russia
Deep geological repository disposal concept We know how we can dispose of and store radioactive waste in Switzerland. The Swiss disposal concept provides for deep geological repositories to ensure the long-term safety of people and the environment. The Federal Council recognized the feasibility of this concept in 2006, and mandated the National Cooperative for the Disposal of Radioactive Waste (Nagra) to evaluate suitable sites. The repositories will be constructed at a depth of several hundred metres in suitable rock formations. In the repository itself, a system of staged engineered safety barriers will isolate the waste. These barriers include, for example, suitable packaging of the waste and backfi lling of the disposal tunnels. Once the monitoring phase is over, the repository and access shafts will be backfi lled and sealed, although the contents must remain retrievable. Deep geological repository for highly radioactive waste Access tunnel Disposal tunnels for high-level waste and spent fuel rods Test facility/rock laboratory More information is available at www.nagra.ch Shaft Disposal question has been technically solved If nuclear energy is to be expanded in a responsible manner, deep geological repositories for radioactive waste should be built as soon as possible. Because of the relatively low volume of waste, it is technically possible and economically feasible to lock the radioactive waste away safely in a deep geological repository for long enough. In 2006, the Federal Council expressly recognized the technical feasibility of a deep geological repository. Before being committed to a deep geological repository, high-level radioactive waste must be kept at an intermediate storage site for about 40 years. In Switzerland, the waste is kept at the Zwilag intermediate storage site in Würenlingen in the Canton of Aargau, where low-grade radioactive waste is also prepared for storage in a deep repository. Part of the climate solution Like renewable energies, nuclear energy also harbours great development potential. The UN climate body, the Intergovernmental Panel on Climate Change (IPCC), lists nuclear energy alongside renewable energies as a key technology for alleviating the climate problem. The Federal Council has stated its support for nuclear energy in conjunction with the expansion of renewable energies. Axpo and its partner BKW are implementing these guidelines by investing in both renewable energies and nuclear energy. Illustration: Nagra Disposal tunnels for long-life intermediate-level waste Pilot facility Greenhouse gas emissions from European and Swiss electricity systems in g CO2-equivalent/kWh 3,04 3,0 3,9 15,9 45,4 59,8 0 432,0 500 “Imagine being able to burn coal ash ten times over. This is more or less the potential harboured by the use of existing uranium in advanced reactors.” Tony Williams, Head of Nuclear Fuel Axpo AG Baden 903,0 Beznau nuclear power plant Run-of-river power plant Storage power plant Wind power plant Geothermal power plant Photovoltaics Gas-fired combined cycle power plant Coal-fired power plant 1000 Source: EPD Beznau and environmental assessment of current and future electricity supply options. Hirschberg et al., Paul Scherrer Institute
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Energy is the future Annual Report
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Key fi gures Finances 2008/09 in CH
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Table of contents Energy is the fut
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Milestones in infrastructure expans
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effi ciently. Competitors can be co
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“Energy is dreaming.” Flavia Ma
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As a company owned by the cantons o
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“Energy is there to make our live
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Energy policy Uncertain trends in f
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Energy market The global economic c
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Electricity prospects In the fi nan
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Bettina Baer, 19, plays in the wome
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Renewable energies How we are inves
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Illustration: Geopower Basel AG Lim
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Annual Report Axpo Holding AG 22 -
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Annual Report Axpo Holding AG 24 -
Page 34 and 35: «Energie ist die Sonne.» “Energ
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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.
Page 82 and 83: PRO: ARGUMENTS IN FAVOUR If we are
Page 87 and 88: CONTRA: ARGUMENTS AGAINST Nuclear e
Page 89 and 90: Balance Sheet 30.9.2009 (condensed)
Page 91 and 92: Minergie A registered quality label
Page 93 and 94: Conventional power plants • 1 KKB
Page 95 and 96: Publishing details Published by Axp
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Annual report 2008/09 - Axpo Group

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