Axpo Holding

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Axpo Holding AG

logo
legal form Corporation
founding 2001
Seat Baden , Switzerland
management Christoph Brand
( CEO )
Thomas Sieber
( Chairman of the Board of Directors )
Number of employees 4,958 (2018/2019)
sales CHF 4,856 million (2018/19)
Branch power supply
Website www.axpo.com

Axpo produces electricity in the Klöntalersee ...
... and with nuclear power

The Axpo Holding AG based in Baden , canton Aargau , together with its subsidiaries, the energy company Axpo. Axpo Holding AG was founded in 2001 and is 100 percent publicly owned.

Axpo produces, distributes and sells electricity and is active in international energy trading and in the energy services business. Internationally, the group is present in around 30 countries.

Axpo is the largest energy company in Switzerland and, according to its own statements, the largest Swiss producer of electricity from renewable energies . A large part of domestic electricity generation comes from hydropower and nuclear energy . Abroad, wind and solar energy are in the foreground. In addition, the company owns in Italy gas and steam combined cycle power plants (CCPP).

Axpo employs around 5,000 people.

The company emerged from the former Nordostschweizerische Kraftwerke AG, NOK.

history

Axpo's roots go back to the beginnings of electrification in Switzerland over 100 years ago.

In 1908, what was then Motor AG connected its low-pressure hydropower plant in Beznau , Aargau, with the storage power plant. on the Löntsch , Glarus, through a 100-kilometer 27- kilovolt (kV) line to the power network. The founder of Motor AG is Walter Boveri , co-founder of Brown, Boveri & Cie. ( Merged to ABB in 1988 ).

The secure power supply is gaining importance at an early stage and this is increasing the political pressure to transfer it from private to public hands. In 1914, the cantons of Aargau, Glarus, Zurich, Thurgau, Schaffhausen and Zug merged to found Nordostschweizerische Kraftwerke AG, or NOK for short, and took over the Beznau-Löntsch power plants. Schaffhausen and Appenzell Innerrhoden follow later. The NOK completed its first own hydropower plant near Eglisau am Rhein in 1920 . The complex has been a listed building since 1979.

In 1958 the three countries Germany, France and Switzerland are connected to a 220 kV network, which is expanded to the 380 kV voltage level in 1967. The central panel will be named "Star of Laufenburg" , set known and the basis for an international power grid operation.

Because the demand for electricity is constant and production from hydropower is reaching its limits at the same time, nuclear power is to become the second pillar of power supply. In the 1960s this demand was still broadly supported politically. SP Federal Councilor Willi Ritschard or the Naturschutzbund, the predecessor organization of Pro Natura , are in favor of nuclear power plants.

In December 1969 the first block of the was put into commercial operation after a construction period of four years. In 1971 the sister block Beznau 2 goes into operation.

In 1973, in addition to the Aare island of Beznau on Böttsteiner Boden, the NOK set up Switzerland's first energy dialogue center with the population, today's Axporama .

At the end of the 1990s, the EU initiated the gradual liberalization of the electricity market . In order to turn the NOK into a Europe-compatible electricity company, the NOK and the NOK cantons and their cantonal utilities founded Axpo Holding AG in 2001. It includes NOK, Centralschweizerische Kraftwerke AG (CKW) and EGL AG, later Axpo Solutions AG. In 2009, the traditional NOK became Axpo AG, and three years later it was renamed to today's Axpo Power AG .

In 2005, Axpo (then still known as NOK) started the major “ Linthal2015 ” project in the Glarus Alps. At the Limmernsee level, the Muttsee-Limmernsee stage is being expanded with a pumped storage plant with an output of 1000 megawatts (MW) . The planning and expansion will take around ten years. The costs amount to CHF 2.1 billion. 

In response to the nuclear accident in Fukushima , Japan , in 2011, the Swiss Federal Council decided not to build new nuclear power plants. Germany wants to phase out nuclear power by 2022 and is taking older nuclear power plants off the grid while decommissioned coal-fired power plants are being restarted. The consequence is massive falling oil and gas prices, while CO 2 certificates are too cheap due to the non-functioning trade. At the same time, Germany in particular is strongly promoting the subsidized expansion of wind and solar systems. As a result, wholesale prices collapse on the electricity exchanges . The income for electricity producing companies like Axpo is falling.

At the end of 2016, UBS lowered Axpo's credit rating to "BBB +".

In 2017, the Swiss electorate rejected the nuclear phase-out initiative at the ballot box. Nuclear power plants should be operated as long as they are safe and help bridge the gap until the federal energy strategy 2050 can take effect. However, the no is not counted as a yes to nuclear power per se.

Today, Axpo's situation has stabilized thanks to significant cost reductions and rising electricity prices (see current credit ratings).

The group has been expanding into wind and solar energy since the 2014/15 financial year.

Well-known acquisitions are the complete takeover of the German Volkswind (2015) and the French Urbasolar (2019). Axpo also holds a 24.1% stake in Global Tech I. The offshore wind farm has been in operation since 2015. According to its own statement, the group intends to further expand the area of ​​renewable energy, including the business with long-term electricity contracts ( Power Purchase Agreements, PPAs ). Processes should be increasingly digitized in order to leverage synergies and gain competitiveness.

Companies

The Axpo Group supplies around 3 million people and several thousand industrial and commercial enterprises in north-eastern and central Switzerland with energy and energy-related services. Axpo Holding is owned by the north-eastern Swiss cantons and their cantons.

Company figures

The following table shows Axpo's company figures for the financial years 2011/12 to 2018/19:

Gyear Sales (in CHF million) Weight / loss (in CHF million) Employees
2011/12 7,346 329 4,368
2012/13 7,025 364 4,430
2013/14 6,705 -838 4,435
2014/15 5'860 -867 4,312
2015/16 5'416 -1'226 4,293
2016/17 5,567 269 4,231
2017/18 4,850 131 4,441
2018/19 4,856 865 4,958

Note: The difference in net profit for 2018/19 compared to the previous year is largely due to a so-called write-up of CHF 398 million. This should take into account the rising electricity prices in the wholesale trade.

Shareholders

The shares of Axpo Holding are entirely in the hands of the north-eastern Swiss cantons or cantonal works. In detail these are:

Subsidiaries and Business Units

Axpo Holding AG forms the Axpo Group with its following subsidiaries:

The “Production & Networks” division operates the power plant park in Germany and abroad (nuclear energy, renewable energies, CCGT) and the distribution networks. The division also invests in power plant and network capacities.

The "Trading & Sales" division markets the energy from the power plant portfolio and is active in energy trading across Europe. Axpo mainly trades electricity, natural gas, biomass, CO 2 certificates and green certificates for energy from renewable sources. The group is also active in the so-called origination business, which, unlike standard products, is based on products through which the provider accepts and manages customer risks.

CKW AG supplies around 200,000 private customers in the cantons of Lucerne, Uri and Schwyz.

Avectris AG offers IT services for Axpo, the Nordostschweizer Kantonswerke as well as for third-party customers.

Sales markets

In Switzerland, Axpo supplies north-eastern Switzerland with electricity primarily in the business-to-business area. The largest customers are cantonal and municipal utilities. The subsidiary CKW supplies around 200,000 private customers and around 5,000 business customers directly and other customers indirectly in Central Switzerland.

In Italy, Spain, Portugal and Poland, Axpo has a total of around 400,000 delivery points in electricity sales and around 45,000 delivery points in gas sales, both directly and through its sales partners.

sustainability

The Axpo electricity mix is ​​climate-friendly in that it hardly emits any CO 2 in Switzerland with hydropower, nuclear energy and biomass . Due to the gas-fired power plants in Italy, however, Axpo has emitted an average of around 3 million tonnes of CO 2 per year with its own power plant fleet.

Viewed across the entire power plant park, however, the Axpo electricity mix is ​​already at the level that Europe is aiming for by 2035.

Based on the 2018/19 financial year, Axpo also achieved cumulative increases in energy efficiency of around 90 gigawatt hours (GWh) over the last six years.

Since the 2014/15 financial year until today, the company has almost doubled its own portfolio of wind and solar energy, especially abroad, as well as biomass from 350 MW to 620 MW.

Axpo sees these investments as well as the expansion of the business with long-term power purchase agreements (PPAs) for unsubsidized renewable energies as a contribution to the United Nations' sustainability goals .

As a member of the UN , Switzerland is required to help implement these goals by 2030, with the private sector and especially energy companies playing a key role.

Production facilities

Installed power plant capacities

Axpo operates more than 100 power plants and has installed power plant capacities totaling around 9,400 MW as of the end of September 2019. The majority of this is domestic hydropower.

Technology and countries Installed capacity

FY 2018/19

Installed capacity

FY 2017/18

Hydropower Switzerland, including small hydropower approx. 4,300 MW approx. 4,300 MW
Nuclear energy Switzerland, including long-term contracts approx. 1,500 MW approx. 1,500 MW
New energies Switzerland without small hydropower, mainly biomass approx. 30 MW approx. 30 MW
Nuclear energy abroad (long-term contracts in France) approx. 1,200 MW approx. 1,200 MW
Combined gas and steam power plants abroad (Italy) approx. 1,700 MW approx. 1,700 MW
New energies abroad, mainly wind power (Germany, France, Italy, Spain) and photovoltaics (France) approx. 640 MW approx. 490 MW
Total approx. 9,400 MW approx. 9,300 MW

safety

Plant safety: The Axpo Sustainability Report 2018/2019 states: "... Axpo is committed to complying with the nuclear safety standards set at the international level by the IAEA Safety Convention ( International Atomic Energy Agency ) and ratified by Switzerland. National and international authorities regularly review nuclear safety. The periodic safety checks are of great importance. (…) In addition, nuclear safety is regularly analyzed and assessed by the WANO ( World Association of Nuclear Operators ). (...). "

→ Reportable incidents at nuclear facilities, see under Axpo Power AG

Dams are also permanently monitored and regularly checked. Dams of a certain category have to withstand earthquakes, the strength of which can only be expected every 10,000 years. These systems are subject to the supervision of the Federal Office of Energy (SFOE).

Security of the energy supply: The Axpo power plant park combines systems that provide base load, peak energy and control energy. In Switzerland, it has a production capacity of around 25 billion kWh and a power grid of 2,200 kilometers.

The average duration of supply interruptions per end consumer is short. In the 2018/19 financial year, this was 0.25 min / a at Axpo Netze and 21.6 min / a at CKW.

Energy carriers and power plants

Renewable energy

In the renewables sector, Axpo has invested primarily in Swiss hydropower and biomass. The company produces more than 9.5 billion kWh of electricity from renewable energy every year.

Hydropower

Hydropower plays an important role in the planned restructuring of electricity production in Switzerland in accordance with the Energy Strategy 2050.

Axpo has an installed hydropower capacity of 4,300 MW in Switzerland. Your hydro power plant portfolio (ownership and investments) comprises around 60 systems. This makes the company the largest producer of hydropower in Switzerland.

Progress in energy efficiency: In the 2018/19 financial year, efficiency increases of around 800 MWh were achieved at the Göschenen power plant.

Axpo hydropower plants with an installed capacity of over 10 MW (selection):

(For a general list of Swiss hydropower plants, see here ).

Biomass  

Axpo has 15 biomass plants and 5 composting stations in Switzerland. The company recycles bio-waste from more than 2500 customers (cities, municipalities, industry and commerce).

Progress in energy efficiency: In the 2018/19 financial year, efficiency increases of 150 MWh were achieved in the Chavornay Kompogas plant.

Photovoltaics

Axpo entered the rapidly growing international solar business in 2019 with the complete takeover of the French Urbasolar.

The Urbasolar portfolio includes photovoltaic systems with a total output of 249 MW (as of the end of the 2018/19 financial year). Axpo puts the development pipeline at more than 1000 MW. In March 2020, the company announced that it was building solar systems for Paris' Charles-de-Gaulle, Orly and Le Bourget airports.

In Switzerland, Axpo is present in the solar business through CKW AG. The group will also use the Limmern pumped storage plant to produce solar power. At the dam of the Muttsee at around 2500 m above sea level. M. creates a large system with 6000 photovoltaic modules. Construction will start in summer 2021.

Solar systems at high altitudes have the advantage that they produce more than comparable systems in the Central Plateau, especially in winter when Switzerland is dependent on imports. The alpine solar system will generate around 50% of the electricity during the winter.

Wind energy

With the German Volkswind , which Axpo fully took over in 2015, the group is present in France and Germany in the wind energy sector. He also has a 24.1% stake in the Global Tech I offshore wind farm in the North Sea. The plant with an installed capacity of 400 MW went into operation in 2015. Since the beginning of 2020, Axpo has been responsible for the entire marketing of the electricity generated by Global Tech I, which is around 1,500 million kWh annually.

See here for market data on the wind energy sector.

Nuclear energy

Axpo participates in Swiss nuclear power plants
investment Axpo Power AG (in%) Axpo Solutions AG (in%) CKW AG (in%) Axpo Group (in%)
Beznau nuclear power plant 100.0%
Gösgen nuclear power plant 25.0% 12.5% 37.5%
Leibstadt nuclear power plant * 22.8% 16.3% 13.6% 52.7%

* AEW Energie AG, which is co-owner of the Axpo Group, holds 5.43 percent of the Leibstadt nuclear power plant. As a result, 58.1 percent of the Leibstadt nuclear power plant is indirectly owned by Axpo and companies close to Axpo.

In addition to the ownership of the nuclear facilities mentioned, Axpo has subscription rights to French nuclear power plants.

Progress in energy efficiency: No efficiency improvements were achieved in the 2018/19 financial year.

Networks

Axpo maintains its own network infrastructure in Switzerland and, with its distribution networks, connects the transmission network of the national network company Swissgrid with the customers' distribution networks.

Axpo's supraregional distribution network (110 kV / 50 kV / 16 kV) extends over 2200 kilometers and includes 8000 masts. It consists of 82 percent overhead lines and 18 percent cable lines.

With its networks, Axpo supplies the entire north-east of Switzerland, the Principality of Liechtenstein and parts of the cantons of Schwyz, Zug, Graubünden and Valais with electricity.

Systems in Germany

Mast of the Schlattingen-Thayngen line south of Bietingen on German soil
Sign on a mast of the Schlattingen-Thayngen line south of Bietingen on German land

Axpo's high-voltage line Thayngen - Schlattingen runs partly through German territory, but does not supply any transformer stations in Germany.

Energy trading

International energy trading is the traditional business of the former Axpo Trading AG (previously EGL AG) and today's Axpo Solutions AG.

Axpo is accredited on numerous energy exchanges and broker platforms across Europe. The group buys and sells electricity as well as natural gas , oil and energy derivatives.

The group links the solar and wind power business with the marketing business via so-called power purchase agreements (PPAs) .  

→ For more information, see: Axpo Solutions AG

criticism

In 2011, Axpo was nominated for the Public Eye Award , which honors corporations that, according to the initiators, behave particularly irresponsibly towards people and the environment. However, the award went to another company. According to the nomination text, the Russian Mayak plant , where the nuclear fuel elements come from, is the “most contaminated place in the world”. The Neue Zürcher Zeitung wrote: It is embarrassing that environmentalists knew better about the origin than the Axpo specialists . Axpo wanted to visit the facility, but even the inspectors of the International Atomic Energy Agency are not allowed to do so . On November 12, 2011, Axpo announced that it had “temporarily placed the order” to dispense with fuel elements made from Mayak. Axpo claimed that there was "no evidence of an inadmissible burden". The systems correspond to "internationally accepted regulations" and would meet "the legal requirements".

In 2014, the group finally announced that it would finally stop using uranium from the Russian Mayak after a temporary suspension.

Criticism of the service life of the KKB, see Axpo Power AG

Varia

Until 2012, Axpo Holding was the main sponsor of the highest Swiss football league , the Axpo Super League .

The greenhouse gas intensity for the 2018/19 financial year is 97 g CO 2 equivalents per kilowatt hour (kWh) across the group's entire power plant fleet, i.e. including the plants abroad (such as the CCGT in Italy ). For comparison: for the European electricity mix, the value is around 300 g.

In 2018, Axpo generated an average of 103 grams of CO 2 equivalents and 29 cubic millimeters of nuclear waste per kilowatt hour. Among the four largest energy groups in Switzerland - in addition to Axpo, these are Alpiq , BKW and Repower - Axpo came off in the middle with an average of 316 environmental pollution points (UBP).

The energy from nuclear waste can be recycled.

Web links

www.axpo.com

Commons : Axpo  - collection of images, videos and audio files

Individual evidence

  1. http://www.axpo.com/ch/de/ueber-uns/medien-und-politik/medienmitteilungen.detail.html/medienmitteilungen/2020/Christoph-Brand-uebernehmen-am-1-Mai-die-Ffunktion -as-CEO-von-Axpo.html
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  3. Annual Report 2018/19 Axpo Holding AG, in: axpo.com/reports&termine, accessed on April 27, 2020
  4. Axpo can finally invest again , in: NZZ, December 11, 2019, accessed on April 27, 2020
  5. Axpo website - About us , in: axpo.com / über uns, accessed on April 27, 2020
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  10. Stern von Laufenburg , in. Swissgrid.ch, accessed on April 27, 2020
  11. Der Stern von Laufenburg , in: Aargauer Zeitung, May 16, 2018, accessed on April 27, 2020
  12. A forgotten success story, in: Die Weltwoche, August 18, 2011, not available online
  13. An idea takes on the form of a company, in Aargauer Zeitung, December 19, 2000, not available online
  14. Limmern pumped storage plant , in: axpo.com / energiewissen, accessed on April 27, 2020
  15. Coal is experiencing a renaissance after the nuclear phase-out , in: welt.de, March 12, 2012, accessed on April 27, 2020
  16. What are CO2 certificates ?, In: myclimate.org , accessed on April 27, 2020
  17. Swiss “collateral damage” to German energy policy , in: NZZ, December 21, 2013, accessed on April 27, 2020
  18. ^ Every year again - Axpo with depreciation worth billions , in: NZZ, September 19, 2016, accessed on April 27, 2020
  19. handelszeitung.ch December 22, 2016: After a record minus: UBS downgrades Axpo
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  21. Georg Lutz and Florence Lebert (2017). VOTO study on the federal referendum of November 27, 2016. FORS, ZDA, LINK: Lausanne / Aarau / Lucerne , in: voto.swiss / uploads PDF
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  23. Axpo takes over German wind farm operator , in: srf.ch, July 16, 2017, accessed on April 27, 2020
  24. Axpo takes over Volkswind, in: axpo.com / medienmitteilung, July 16, 2015
  25. Global Tech I put into operation , in: n-tv.de, September 2, 2015
  26. The Rise of Corporate PPAs 2.0 an Update - July 2018 , in: Baker McKenzie 2018
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  45. Fact sheet: Safety of Dams, in: swv.ch, Swiss Water Management Association , accessed on April 27, 2020
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  56. Axpo is building solar systems for Paris airports , in: cash.ch , March 4, 2020, accessed on April 27, 2020
  57. Axpo is planning a major solar project in the canton of Glarus , in: Handelszeitung, November 18, 2019, accessed on April 27, 2020
  58. Axpo receives building permit for Muttsee solar system, in: axpo.com / media releases, April 1, 2020, accessed on April 27, 2020
  59. «Study Winter Power Switzerland» What can domestic photovoltaics contribute ? Final report, August 14, 2019, EnergieSchweiz, Swiss Federal Office of Energy, SFOE, in bfe.admin.ch/publikationen, accessed on April 27, 2020
  60. Axpo is building the first large-scale solar system in the high mountains , in NZZ: November 18, 2011, accessed on April 27, 2020
  61. Axpo takes over Volkswind, in: axpo.com / medienmitteilung, July 16, 2015
  62. German Axpo subsidiary takes over the overall marketing of wind farm GT I , in: cash.ch, January 27, 2020, accessed April 27, 2020
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  70. NZZ of September 10, 2010
  71. Aargauer Zeitung: not even the IAEA is allowed to inspect Mayak
  72. NZZ of June 20, 2011: Axpo "locked out" in Russia
  73. axpo.ch November 12, 2011: Axpo refrains from using uranium from Mayak until the necessary transparency has been established ( Memento from November 18, 2011 in the Internet Archive )
  74. No more uranium from Mayak , in: NZZ, January 27, 2014, accessed on April 27, 2020
  75. CO2-emission intensity , in: European Environment Agency , accessed on April 27, 2020
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