repower at a glance€¦ · repower’s key markets are switzerland, italy and romania. it has...
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REPoWER AT A GLANCE
Repower is an international energy company headquartered in Poschiavo (Canton Graubünden, Switzerland). The group traces its roots back more than 100 years. It operates along the entire electricity value chain, from generation and trading to distribution and sales. In Italy it is also involved in the gas business. Repower also has a New Tech unit charged with developing innovative solutions facilitating the smart integration of energy systems.
Repower’s key markets are Switzerland, Italy and Romania. It has offices and subsidiaries in Switzerland (Poschiavo, Küblis, Ilanz, Bever, landquart, zurich), Italy (Milan), Romania (Bucharest) and the Czech Republic (Prague).
Repower AG bearer shares and participation certificates are listed on the SIX Swiss exchange.
2014 FINANCIAl HIGHlIGHTS CHF m EuR m*
Total operating revenue 2,273 1,871
Earnings before interest and taxes (EBIT) 26 21
EBIT before exceptional items 39 32
Group profit -33 -27
Group profit before exceptional items -22 -18
Balance sheet total 2,104 1,750
Equity 766 637
Equity ratio 36 %
* The figures in euros are approximations. The figures in Swiss francs (CHF) are binding. Closing rate on 31 December 2014 for balance sheet total and equity: EUR 1.20240; average 2014 exchange rate for other amounts: EUR 1.21456.
PEoPLEdRIVeN By dedICATION.
Repower employs around 690 people. Added to this are more than 500 sales consultants in Italy. In Switzerland, Repower offers 30 young people basic vocational training. The group is recognised as an attractive employer providing opportunities in dozens of different trades, professions and functions.
People at Repower are guided by a set of core values: building trust, taking personal initiative and producing effect.
OwNeRSHIP STRUCTURe
Canton Graubünden
Axpo
Free float
58.3 %
33.7 %
8 %
eNeRGy BAlANCe SHeeT 2014 2013 Change
Electricity business in GWh
Trading 11,153 10,751 + 4 %
Supply/sales 5,945 5,908 + 1 %
Pumps, own use, losses 325 353 - 8 %
Electricity sales 17,423 17,012 + 2 %
Trading 14,770 14,698 0 %
Own generation 1,471 1,371 + 7 %
Energy from participations 1,182 943 + 25 %
Electricity procurement 17,423 17,012 + 2 %
Gas business in 1,000 m3
Sales to end customers 222,580 208,624 + 7 %
Trading (sales) 1,898,881 1,291,990 + 47 %
Gas sales 2,121,461 1,500,614 + 41 %
Consumption of Teverola power plant (Italy) 119,312 106,483 + 12 %
Own generation and energy from participations
Trading (electricity sold)
Trading (electricity procured) 17 TWh
approx.
Sales
HeAdCOUNT 2014Switzerland 456Italy 163Germany 19Romania 28Czech Republic 25Total 691
Apprentices 30Sales consultants in Italy 513
REPoWERPOWERED BY A CLEAR STRATEGY.
GENERATioNFUELLED BY A SMART ENERGY MIX.
PROJeCTSOne of the objectives under the Swiss Federal government’s energy Strategy 2050 is to increase the generation of hydroelectricity in Switzerland in the long term. Repower has two projects that fit perfectly into this strategy: Chlus (a 62 Mw hydropower installa-tion in the Prättigau/Graubünden Rhine Valley area) and Lagobianco (a 1050 Mw pumped-storage plant in the upper Poschiavo valley, including the refurbishment and continued operation of existing generation facilities). Nevertheless, the current economic environment makes it impossible to go ahead with delivering these projects at present. Repower will keep them in the pipeline to be able to proceed with construction as soon as the market situation allows.
PURePOweR ANd SOlARPOweRRepower works with more than 100 privately and publicly owned gener-ation facilities (mains water tur-bines, biomass and photovoltaic) to produce its two green power products, Purepo-wer and Solarpower.
RePARTNeR PROdUCTION INVeSTMeNT COMPANyRepartner Produktions AG is a vehicle created by Repower offering Swiss energy utilities an opportunity to participate in a diversified portfolio of electricity generation assets in Switzerland and abroad. The portfolio is being built up step by step. In return for their investment, shareholders in the company receive purchase rights to electricity from the facilities in the portfolio. Besides Repower, eight partners, predominantly municipal utilities, are invested in Repartner Produktions AG.
1 In the case of interests, the figure refers to Repower’s share plus any additional exploitation rights. 2 long-term average generation3 Markets electricity destined for Canton Graubünden and various concession municipalities in the Canton
Graubünden.4 From nuclear holding companies
Kernenergie*
Windkraft*
Gaskraft*
Wasserkraft*
61 % hydro*
22 % gas*
4 % wind*
13 % nuclear*
Repower has generation assets of its own in Switzerland, Italy and Germany producing electricity on the basis
of different technologies.
HydRO CAPACITy GeNeRATION RePOweR’S INTeReST own plants Mw 1 Gwh 1 2 %CH Küblis 45.6 183 100CH Schlappin 7.0 29 100CH Klosters 16.5 24 100CH Taschinas 11.5 40 100CH Papierfabrik Landqart 1.3 6 100CH Madulain 1.4 6 100CH Silvaplana 1.5 4 100CH Morteratsch 0.5 4 100CH Palü 10.0 14 100CH Cavaglia 7.0 20 100CH Robbia 27.0 107 100CH Campocologno I 45.0 199 100CH Campocologno II 1.5 5 100CH Lunschania 0.9 2 100CH Trun 0.7 4 100CH Ladral 5.5 13 100
Subtotal 182.9 660 Interests and drawing rightsCH Ferrera 4.0 17 49CH Frisal 2.3 10 10CH Hinterrhein 41.0 93 6.5CH Grischelectra 214.0 580 3
Subtotal 261.3 700 Total hydro 444.2 1,360
COMBINed CyCle GAS TURBINeInterestIT Teverola 244.0 750 61Total gas 244.0 750
wINdOwn plantsIT Corleto Perticara 9.3 12 100IT Lucera 26.0 52 100DE Prettin 10.0 17 100DE Lübbenau 16.0 35 100InterestIT Giunchetto 11.6 20 39Total wind 72.9 136
NUCleARinterestsCH Gösgen 12.0 80 4
CH Leibstadt 2.0 14 4
FR Bugey 2 + 3 22.0 160 4
FR Cattenom 3 + 4 12.0 91 4
Total nuclear 48.0 345
PHOTOVOlTAIC (SOlAR) own plantsCH Ludains, St. Moritz 0.02 0.02 100CH Piz Nair/lower terminus, St. Moritz 0.01 0.01 100 CH Repower building, Bever 0.03 0.03 100CH Itu Landa Sol, Ilanz 0.02 0.02 100CH Youth club, Samedan 0.03 0.03 100CH Works yard Landquart 0.03 0.03 100interestCH Desert da Sol, Disentis 0.04 0.04 25 Total photovoltaic 0.18 0.18
Total Repower generation 809 2,591
* 2014 figures
TRAdING MARKeTS IN eUROPe
TRADiNG POOLING RESOURCES AND EXPERTISE.
energy trading is the hub connecting the company’s generation and sales operations with the market. Repower Trading operates on the most important european energy exchanges from three offices in Poschiavo, Milan and Prague. The business focuses on asset-based trading, designed to optimise management of the company’s own portfolio. The company also offers its trading services to other energy providers.
Repower trades in electricity, gas, coal, carbon certificates and guarantees of origin. The Market Access team ensures permanent presence, serving as the main interface to partners and customers. Repower’s traders can draw on in-depth input from the Market Intelligence team (market data management, analysis and research, and tool development). And a streamlined, professional back office takes care of administrative duties and regulatory management.
energy exchanges
1. ePeX SPOT Paris
2. eeX leipzig
3. eXAA Vienna
4. Powernext Paris
5. Nord Pool Oslo
6. GMe Rome
7. PXe Prague
8. OTe Prague
9. OKTe Bratislava
10. Opcom Bucharest
11. HUPX Budapest
electricity sales 2014, trading: (own use only)11 Twh approx.
electricity sales 2014, sales:6 Twh approx.
Gas sales 2014, trading:(own use only)2 billion m3 approx.
Gas sales 2014, sales:0.2 billion m3 approx.
2
1/43 9
11
7/8
5
10
6
Repower Trading (Prague)
Repower Trading (Poschiavo)
Repower Trading (milan)
DiSTRibuTioN MOVING ENERGY ACROSS BORDERS.
AUSTRiA
iTAly
Graubünden
1
2
3
4380 kV
220 kV
50-60 kV
150 kV merchant line
110 kV/130 kV/150 kV
Repower lines
Repower supply area
downstream grid operator
Substation
Substation with feed-in point
1 Klosters 2 ilanz
3 bever 4 Poschiavo
2,185 km of cable
2,500 km of power line routes
552 km of overhead lines
24 substations
691 transformer stations
1,380 kiosks
In 2005, Repower built the 380 kV cross-border Bernina line, ownership of which was transferred to the national grid operator Swissgrid in 2013. In 2009 a 150 kV merchant line was commissioned between Tirano (Italy) and Campocologno (Switzerland) to increase transport volumes and security of supply even further. A new merchant line between Val Bregaglia (Bergell, Switzerland) and Italy is currently being planned.
Assuring a secure and reliable supply of electricity to customers means having high-capacity pan-regional and regional distribution grids. Repower owns, maintains and builds power lines with voltages ranging between 0.4 and 150 kV in the Prättigau/Rhine Valley/davos, engadine/Poschiavo, Surselva and Oberhalbstein areas of Canton Graubünden. The company also owns and operates the relevant substations and switching stations.
NEW TECH MAKING THE FUTURE HAPPEN.
Intelligent system integration, the ability to incorporate different sources of electricity, and promoting technological innovation are all rapidly gaining in importance in a radically changing energy landscape. To assure the company access to new and profitable areas of business in the future, Repower has started to build its own New Tech unit. The idea is to harness know-how from the countries and areas of expertise in which Repower itself operates, as well as fostering strategic partnerships with other companies and start-ups.
A good example of innovative technology is the Privapower tariff. Geared to owners of photovoltaic (PV) installations, this is the first true smart grid tariff for basic supply customers in Switzerland. Privapower provides attractive incentives for customers to improve energy efficiency and help achieve the federal energy targets by managing their energy use and generating electricity with their own PV installation. By matching their consumption as closely as possible to the electricity they generate, they can not only save money, but also achieve solar self-sufficiency at very low cost.
Electric mobility is another innovative area in which Repower operates. The company has worked closely with ABB to develop the Palina charging station, which following its launch in Italy is now available in Canton Graubünden as well. Repower is also working hard to formulate a strategy for the general development of electric transportation.
To optimally manage load in its regional distribution grid, Repower has created a model for flexibly managing sheddable loads. This innovative tool helps balance load, and will reduce the costs of expanding the regional distribution network without jeopardising good security of supply.
Repower’s innovation portfolio already contains numerous projects, and the development of innovative energy-related products, services and business models for the future will become even more important as time goes on.
SALES GUIDED BY THE NEEDS OF CUSTOMERS.
Repower supplies customers in Switzerland, Italy, Romania and Germany with energy.
SwITzeRlANdRepower is the leading supplier of electricity in Southeast Switzerland, with around 45,000 customers ranging from private households to industrial, commercial and public sector consumers and downstream municipal utilities. Repower’s supply area includes communities in the engadine, Prättigau, Rhine Valley and Surselva areas of Graubünden. It supplies customers in the Upper engadine, Münstertal, Poschiavo, Rhine Valley and Surselva via municipal works.
Repower’s customers in Switzerland can choose between the standard product Aquapower (Swiss hydroelectricity), the renewable products Purepower (100% Graubünden green power) and Solarpower (100% Graubünden solar power), and the low-cost Mixpower (a residual mix from europe). Owners of photovoltaic installations can also take advantage of the own-use tariff Privapower.
The Sales unit also serves as the hub between Repower Trading and large customers in both Switzerland and Germany, which Repower provides with green power and trading services. The focus here is on municipal utilities and energy providers; in Germany Repower also serves large industrial customers.
ITAlyIn Italy, Repower is one of the biggest suppliers of electricity and gas to small and medium-sized enterprises and public institutions, providing around four per cent of the electricity consumed by this segment. The company serves around 22,000 customers in Italy consuming some 3.4 terawatt hours of electricity, and supplies an additional 10,000 customers with some 220 million cubic metres of gas. Its share of the gas market is 3.6 per cent.
Repower has a reputation for high standards of customer service, fostering personal contact with consumers via an extensive network of sales consultants spanning the whole of Italy. Repower also develops innovative products tailored to the changing needs of its various customer segments. The range includes green power (Verdedentro), electric mobility solutions (Palina) and energy efficiency consulting services (eFFettiva).
ROMANIARepower is one of the four largest non-state energy utilities in Romania, working for SMes consuming between 0.5 and 20 gigawatt hours of electricity per year. Repower’s market share in this segment is almost five per cent. The company sells around 1.3 terawatt hours of electricity per year in Romania. It has developed and launched Naturepower, the country’s first TÜV Rheinland-certified green power offering.
In Romania too, Repower offers consumers customised solutions, positioning itself as a reliable, customer-driven electricity supplier with high standards of quality.
CzECH REPubLiC Vodičkova 710/31110 00 Praha 1T +420 255 73 0200
RomANiA Bd. Primăveriinr. 19-21, sector 1011972 Bucureşti T +40 21 335 0935
HEAD oFFiCE Via da Clalt 307 7742 Poschiavo T +41 81 839 7111
SWiTzERLAND Glennerstrasse 227130 IlanzT +41 81 926 2626
Bahnhofstrasse 117302 landquartT +41 81 423 7822
Kraftwerk Küblis 7240 Küblis T +41 81 423 7777
Hardstrasse 2018005 zürichT +41 81 839 7000
iTALy Via Giulio Uberti 3720129 MilanoT +39 02 764 5661
Servizio Clienti 800 903 [email protected] +39 02 581 4211
2015 edition: information in this document refers to the year 2014/end of 2014.