Axpo Solutions

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Axpo Solutions AG
legal form Corporation
founding 2012
Seat Baden AG , Switzerland
management Domenico de Luca
( CEO )
Joris Gröflin
( Chairman of the Board of Directors )
Number of employees 1,084
sales CHF 3'599 billion CHF
Branch Trading and distribution of energy
Website axpo.com

Axpo Solutions AG, based in Baden, is a 100% subsidiary of Axpo Holding AG . The purpose of the company is to generate, utilize, buy, sell, exchange and trade in electrical and other energy and to provide all kinds of services in the fields of energy and the environment.

Axpo Solutions AG emerged from Axpo Trading AG (previously EGL AG, which emerged from Elektrizitäts-Gesellschaft Laufenburg AG in 2010 ).

Axpo Solutions AG employs more than 1000 people and generated sales of around CHF 3.6 billion in the 2018/19 financial year.

history

Axpo Solutions AG has its origins in the electricity company Laufenburg AG, which was founded in 1956 . The company is opened to the public one year after it was founded (see history of Energiedienst Holding AG )

In 1958 the three countries Germany, France and Switzerland are connected with a 220 kilovolt (kV) network, which in 1967 is expanded to the 380 kV voltage level. The central control panel is known as the “Stern von Laufenburg”. This laid the foundation for an international network operation that one year later, in 1968, already encompassed 17 European countries.

The way to the ownership of today's parent company, Axpo Holding AG , leads through the former German-Swiss Elektrowatt AG, which acquired a 51% stake in the Laufenburg electricity company in 1969. In 1996, Elektrowatt AG reorganized and outsourced the energy supply division to Watt AG. Nordostschweizerische Kraftwerke AG, NOK (predecessor of Axpo Power AG ), took over 31% of Watt AG one year later.

As a result, NOK gradually increased its stake in Watt AG until it finally held all of the shares in 2002 and thus also controlled the Laufenburg electricity company. In a second step, the shares in Watt AG 2003 will be transferred to Axpo Holding AG.

In 2010, Elektrizitäts-Gesellschaft Laufenburg was renamed EGL AG and Axpo increased its shares in EGL AG from 91 to 100 percent. The shares will be delisted from the Swiss stock exchange in 2012 . Axpo is combining its own trading business with that of EGL AG and is now bringing together trading competencies in the Trading & Sales division. In the same year, EGL AG is transferred to Axpo Trading AG.

As of the beginning of 2013, the part of the Swiss high-voltage grid that was previously owned and operated by Elektrizitäts-Gesellschaft Laufenburg AG or its successor companies will be transferred to the national grid company Swissgrid .

In 2018, Axpo Trading AG and Axpo Solutions AG will be renamed. In the 2018/19 financial year, the company achieved the best result in its history.

Business activity

Axpo Solutions AG markets the energy from the Axpo Group's power plant portfolio. The group includes Axpo Holding AG with its subsidiaries, namely Axpo Power AG and Axpo Solutions AG. The power plant park includes gas-fired power plants in Italy as well as wind parks in various European countries and solar systems , especially in France.


Origination

A large part of the business falls on the so-called origination, which is to be located between classic sales and trading. Axpo Solutions AG takes on the procurement and marketing of energy and the associated hedging transactions specifically for the individual customer, which usually requires the use of financial products ( derivatives ). Customers include industrial companies, energy suppliers and producers, energy traders, public utilities, banks, insurance companies, project developers and investors. For these, standard products are usually not sufficient to optimize the procurement of energy or its consumption, to market or optimize the portfolio of own systems.

As a long-standing player in the international energy markets, Axpo Solutions AG offers customers access to the relevant trading venues, be it for energy, derivatives or CO2 and green certificates. Axpo Solutions AG also takes on the marketing of wind and solar systems for the customer. The owners of the systems receive a purchase guarantee and, thanks to the use of financial derivatives, the future risk of price fluctuations can be limited. As an originator, it is advantageous to have your own power plants in order to have the knowledge and information necessary to act on the market.

In the renewables sector , Axpo Solutions AG currently markets a portfolio of around 16,000 megawatts (MW) as of March 2020, including the capacities of the German Volkswind, which was acquired in 2015, and the French Urbasolar, which was acquired in 2019 .

Power Purchase Agreements (PPA)

The company links the solar and wind power business with the marketing business via long-term electricity supply and purchase agreements, or Power Purchase Agreements (PPAs). The driving force behind the demand for PPAs for non- subsidized investments is the changing regulatory environment. More and more states are cutting subsidies for plants in the field of renewables or canceling them entirely. In the 2018/19 financial year, Axpo was able to conclude PPAs in almost all major markets.


Energy trading

In traditional energy trading, Axpo Solutions AG trades physical quantities of energy from commodities such as electricity , natural gas , biomass and energy-based financial products such as options , futures or swaps as well as CO₂ certificates and certificates for energy from renewable sources , in around 29 countries and on numerous broker platforms in all over Europe and the USA as well as directly with counterparties ( over-the-counter business ). Axpo Solutions AG is one of the leading international companies in energy trading.

In the USA, Axpo Solutions AG is active in the electricity and natural gas markets and, according to its own statements, has over 40 customers from 20 states.


Retail business

  • In the international retail business, Axpo Solutions AG primarily supplies customers with physical energy and offers services such as installation and grid connection. The main buyers are households and small to medium-sized enterprises. In Italy, Axpo Solutions AG's most important international market, the company has around 400,000 feed-in points for supplying retail customers with natural gas and electricity.

Company figures

Gyear Sales (in CHF million) Weight / loss (in CHF million) Employees
2014/15 4,622 −580 745
2015/16 3,990 −87 836
2016/17 3,950 −244 876
2017/18 3,424 150 912
2018/19 3,599 474 1,084

electricity

Electricity procurement

The production capacities and power plant investments of Axpo Solutions AG are operated by Axpo Power AG (“Production & Networks” division). This includes:

Fossil power plants

Commissioning 2007: The Calenia Energia plant in Sparanise in the province of Caserta has a capacity of 760 MW and is 85% owned by Axpo Solutions AG, the Italian HERA Group holds a minority stake of 15%. Commissioning July 2008: The Rizziconi Energia gas-fired combined cycle power plant in Calabria. This plant also has a capacity of 760 MW, but is 100% owned by Axpo Solutions AG. Commissioning October 2010: The gas-fired combined cycle power plant SE Ferrara (760 MW) in the Italian province of Ferrara, Axpo Solutions AG has a 49% stake.

Renewable energy

Global Tech 1 : Construction started in summer 2012, commissioning on September 2, 2015. The wind farm in the North Sea can theoretically supply 445,000 households with environmentally friendly electricity. Axpo has a 24.1% stake. 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.

Volkswind GmbH , German operator of wind turbines, was taken over 100% by Axpo Trading in 2015.

Albula-Landwasser Kraftwerke AG in Filisur. Axpo Solutions AG is the majority shareholder with 75%.

Regenerative power plant projects in Italy (wind parks) and Spain (wind parks and biomass).

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.

Procurement contracts for electricity

In addition to its own production capacities and investments, Axpo Solutions AG has long-term electricity supply contracts with producers in France.

natural gas

Axpo Solutions AG has been active in the natural gas market since 2003 and, according to its own information, is a medium-sized European player with a physical delivery volume of over 100 terawatt hours (TWh) both for third parties and for its own use. In the last four years (starting from the financial year 2018/19) Axpo Holding AG delivered a total of around 85 TWh liquefied natural gas , liquefied natural gas (LNG).

Among other things, she developed the Trans Adriatic Pipeline (TAP) natural gas pipeline project together with the Norwegian Statoil and the German E.ON Ruhrgas . The pipeline is intended to open a corridor for the supply of Western Europe with natural gas from the Caspian region and the Middle East. The TAP will connect to existing pipelines in Greece and Turkey and then cross parts of Greece, Albania and the Adriatic before reaching the mainland again in Italy. In June 2013, the TAP pipeline was awarded the contract to transport the gas from the “ Shah Deniz II ” field from Azerbaijan to Europe . Construction work is scheduled to start in 2016. After the successful sale of its shares to the partners, Axpo's stake in TAP is still 5%. Axpo has contracted long-term gas supplies through TAP; delivery is scheduled to begin in 2020.

Previously, the then EGL had also shown interest in natural gas from Iran, which has the world's second largest reserves of this raw material. On March 17, 2008, a contract was signed in Tehran between the then EGL and the National Iranian Gas Export Company (NIGEC), which stipulated that from 2012, 5.5 billion cubic meters of natural gas from Iran would be sent to EGL or Axpo Trading annually AG would be delivered. Part deliveries should be made earlier. The US and Israeli governments are hostile to the deal. In February 2016 it became known that the contract had been canceled. Axpo has found a new gas supplier in TAP supplies from Azerbaijan.

Web links

Individual evidence

  1. ^ Entry of "Axpo Solutions AG" in the commercial register of the Canton of Aargau
  2. ↑ a b Annual Report 2017/18
  3. ↑ Axpo Solutions AG , Commercial Register of the Canton of Aargau, accessed on April 27, 2020
  4. ↑ EGL AG, Swiss Official Gazette of Commerce , in: sahb.ch / archiv, April 1, 2010
  5. ↑ Annual Report 2018/19 , Axpo Solutions AG, in: axpo.com / reports & dates
  6. ↑ History of Axpo , in: Chronik NOK / Axpo, PDF, accessed on April 27, 2020
  7. ↑ Stern von Laufenburg , in. Swissgrid.ch, accessed on xxx
  8. ^ Barbara Bonhage: Elektrowatt , in: Historisches Lexikon der Schweiz
  9. ↑ Axpo consolidates control of Watt AG, in: NZZ (ap), May 4, 2002, not available online
  10. ↑ EGL AG, Swiss Official Gazette of Commerce , in: sahb.ch/archiv, April 1, 2010
  11. ↑ SIX Swiss Exchange , in: six-g https://www.shab.ch/#!/search/archiveroup.com / glossar, accessed on April 27, 2020
  12. ↑ Axpo Solutions AG: New name for growth businesses , in: axpo.com / medienmitteilungen, October 1, 2012
  13. ↑ Annual Report 2018/19 , Axpo Solutions AG, in: axpo.com / reports & dates
  14. ↑ Axpo is switching to growth, in: NZZ, December 12, 2019, not available online
  15. ↑ Sustainability Report 2018/19 , Axpo Holding AG, in: axpo.com / reports & dates
  16. ↑ Axpo takes over the entire marketing of the offshore wind farm Global Tech I , in: axpo.com / media releases, January 27, 2020
  17. ↑ Axpo takes over Volkswind - an important pillar for the expansion of renewable energies , in: axpo.com / medienmitteilungen, July 16, 2015
  18. ↑ Axpo takes over the photovoltaic company Urbasolar and starts a growth initiative in the solar business, in : axpo.com / medienmitteilungen, May 2, 2019
  19. ↑ Corporate PPA , in: axpo.com / energiedienstleistungen / PPA
  20. ↑ The Rise of Corporate PPAs 2.0 an Update - July 2018 , in: Baker McKenzie 2018
  21. ↑ Study on the PPA market potential: Demand is increasing rapidly - backing the right horse , in: axpo.com / magazin, accessed on April 27, 2020
  22. ↑ Energy Risk Commodity rankings , in: risk.net / commodities / down load full tables, accessed on April 27, 2020
  23. ↑ Axpo remains the world's number 1 in electricity trading - increased focus on PPAs, in: axpo.com / medienmitteilungen, March 14, 2019
  24. ↑ Annual Report 2018/19 , Axpo Solutions AG, in: axpo.com / reports & dates
  25. ↑ German Axpo subsidiary takes over the overall marketing of wind farm GT I , in: cash.ch, January 27, 2020, accessed April 27, 2020
  26. ↑ Axpo takes over the photovoltaic company Urbasolar , Axpo press release, May 2, 2019, accessed on April 27, 2020
  27. ↑ The industry association SolarPower Europe estimates the market growth for 2019 at 25% (medium scenario), in: Global Market Outlook 2019 - 2023 .
  28. ↑ Axpo builds solar systems for Paris airports , in: www.cash.ch , March 4, 2020, accessed on April 27, 2020
  29. ↑ McKinsey, Global gas and LNG outlook to 2035 , Report, September 2019: According to the consulting firm McKinsey, the demand for natural gas should increase by 0.9 percent per year by 2035, that for LNG (liquefied natural gas), 3.6 percent p. a.
  30. ↑ Annual Report 2018/19 Axpo Solutions AG, in: axpo.com / reports & dates 
  31. ↑ Annual Report 2018/19 , Axpo Solutions AG, in: axpo.com / reports & dates
  32. ↑ Telepolis: Swiss energy company signs billion dollar deal with Iran March 17, 2008, accessed on March 19, 2008
  33. ↑ EGL: Natural gas supply contract signed with NIGEC on March 17, 2008, accessed on March 19, 2008
  34. ↑ SDA report in the Neue Zürcher Zeitung of February 2, 2016