Electricity company Laufenburg

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EGL AG

logo
legal form Corporation
ISIN CH0003288229
founding 1956
resolution September 2012
Reason for dissolution Takeover by Axpo Holding , transferred to Axpo Trading AG
Seat Laufenburg AG , Switzerland
management Hans Schulz
( CEO )
Martin Schwab
( Chairman of the Board of Directors )
Number of employees 803 (November 30, 2010)
sales 2.61 billion CHF (FY 2009/2010)
Branch Energy trading
Website egl.eu

The EGL AG , by 2010 electricity-Gesellschaft Laufenburg AG , was a European-wide Swiss company for energy trading based in Laufenburg in the canton of Aargau , where the operational headquarters and the Trading Center in Dietikon in the canton of Zurich was. The company employed 803 people and generated sales of 2.61 billion Swiss francs in the 2009/2010 financial year. As the majority shareholder, Axpo Holding bought the shares of the minority shareholders from summer 2011 and integrated the company into the group as Axpo Trading AG in September 2012 .

history

High-voltage lines at the Laufenburg substation

Elektrizitäts-Gesellschaft Laufenburg AG was founded in 1956 by Kraftwerke Laufenburg (KWL, today Energiedienst Holding ). It operated the Laufenburg substation in the municipality of Kaisten, in which the 220 kV extra- high voltage networks of Germany, France and Switzerland were interconnected for the first time in 1958 , which formed the basis for the European network operation . Today no less than ten long-distance lines end in the substation , known as the Stern von Laufenburg . EGL played a central role in European electricity trading.

At the end of 1999, EGL founded the subsidiary Deriwatt AG , the purpose of which was to trade in energy-related financial products. In 2002 the company was the first foreign market maker to appear on the European Energy Exchange (EEX) in Leipzig . Deriwatt AG was renamed EGL Trading AG in September 2008 and integrated into the parent company in March 2011.

Doris Leuthard was a member of the EGL Board of Directors from 2002 until her election to the Federal Council in 2006.

Old EGL logo until 2010.

In 2010 a new logo was introduced. The color gradient in the new logo is intended to visualize the multicultural orientation of the company as a strategic unique selling point .

The company was taken over by Axpo in 2012 and integrated into the group as Axpo Trading AG . The business field was taken over by the successor company.

EGL was the main sponsor for the Oberfricktaler Eisenweg .

Companies

EGL AG had a local presence in 23 European countries with its own subsidiaries. It was divided into the business areas Energy Trading & Origination , Assets and Gas Supply & Southeast Europe .

Business Unit Energy Trading & Origination

The Energy Trading & Origination division traded in physical energy and energy-related financial products. With Origination development has been structured products designated for energy trading. EGL bought and sold electricity, natural gas and energy-related financial products. For this purpose, it was admitted to trading on the important energy exchanges. EGL's trading and sales activities were geared towards major customers. For these, teams in the various countries develop Europe-wide procurement models and tailor-made contract solutions. Trading in energy-related financial products was temporarily outsourced to the Deriwatt subsidiary, which from 2008 had been known as EGL Trading. The headquarters of the subsidiary was in Dietikon.

business assets

The power plant investments in Germany and abroad were managed in the Assets division , which also managed the long-term energy supply contracts and the construction of high-voltage lines and substations. The term assets is the English term for fixed assets . EGL held stakes in nuclear and hydropower plants in Switzerland, in three gas-fired combined- cycle power plants in Italy with a total output of 1.8 GW and in a wind farm in northern Spain.

Fossil power plants

EGL's first gas-fired combined-cycle power plant in Italy went into operation in June 2007. The Calenia Energia plant in Sparanise in the province of Caserta has a capacity of 760 MW and was 85% owned by EGL; the Italian HERA group held a minority stake of 15%. In July 2008, EGL's Rizziconi Energia gas-fired combined-cycle power plant in Calabria went online. This plant also has a capacity of 760 MW, but was 100% owned by EGL. In October 2010, the SE Ferrara gas-fired combined cycle power plant (760 MW) in the Italian province of Ferrara went online. EGL held a 49% stake in this power plant. In Extremadura in Spain, EGL planned to build the 400 MW La Zarza gas-fired combined-cycle power plant in the Badajoz province , but the building permit was refused in May 2011 on the grounds that too little water was available in the Alange reservoir to cool the power plant would. The project was therefore canceled.

Renewable energy

EGL was the majority shareholder of Albula-Landwasser Kraftwerke AG in Filisur with 75% . EGL pursued regenerative power plant projects in Italy and Spain. In the spring of 2012, the 66 MW Winbis wind farm in Campania went into operation. In 2005 EGL invested in two biomass power plants and in the supplier of the biomass in Spain. In addition, since 2009 EGL has held a 24.1% stake in Wetfeet Offshore Windenergy GmbH, which was planning the construction of a wind farm with a total output of 400 megawatts off the north German coast. In Spain, EGL held a 46% stake in the La Peñuca wind farm in northern Spain about 100 km north of Burgos , where 22 NEG Micon wind turbines can generate a maximum output of 33 MW.

Procurement contracts for electricity

In addition to its own power plants and investments, EGL had long-term electricity supply contracts with power plants in France.

High voltage lines

Through its subsidiary EGL Grid AG, EGL was the owner of a 380/220 kV extra-high voltage network that stretched over a large part of Switzerland and enabled connections to all neighboring countries with cross-border lines. It owned the 380 kV Laufenburg - Gösgen line and part of the Laufenburg – Bassecourt / –Bickingen – Creux de Chippis line . Together with BKW , the community pipeline was created in the 1960s . The longest high-voltage line in Switzerland at the time ran over the Gemmi Pass

EGL was for the part of Gemmileitung jurisdiction between Frick and Eiken the Frick Valley and then the canton of Basel-Country crossed. At the time, it replaced a 220 kV line from Laufenburg to Brislach , but is not connected to the Brislach substation belonging to Industrielle Werken Basel ( IWB ). At Matzendörfer Stierenberg, a 380 kV line branches off to the Bassecourt substation. From there, the city of Basel , among others, is supplied with electricity.

Up until the 1990s, the longest high-voltage line in Switzerland was connected to BKW's Bickingen substation with three and later with all six circuits. As part of the BKW transmission network, it crosses the Bernese Mittelland and then follows the Kandertal. There are few ton and Danube masts painted with a bright red warning color. It passes the Gemmi Pass and ends in the Creux-de-Chippis substation in the canton of Valais .

EGL-Italia SpA and EGL-Polska Sp.zoo were founded in 2000, EGL Austria in 2001 and branches in Leipzig , Budapest , Oslo and Bucharest in 2003 . For electricity export to the Lower Engadine , EGL enjoys usage rights to the long-distance pipelines of the Northeast Swiss power plants (NOK) and the Albula pipeline of the Engadine power plants (EKW). For export to Italy , it is heavily dependent on the Gotthard line , the Lukmanier line and the 380 kV Sils – Soazza line . Since these three-pole energy routes were reaching their capacity limits, EGL considered building its own power plants on Italian territory. EGL also has a right of use on the 380 kV Bassecourt- Sierentz line .

NorGer

Until August 2011, EGL had a 16.67% stake in the NorGer project, which will implement and operate a high-voltage direct current transmission line (HVDC) through the North Sea between Norway and Germany. The aim of the project is to enable the exchange of electrical energy through the North Sea.

Business Unit Gas Supply & Southeast Europe

Trading in natural gas has been carried out in the Gas Supply & Southeast Europe division since 2003 , which also participated in the construction of gas pipelines , for example the Trans-Adria Pipeline , which is supposed to deliver gas from Iran and Azerbaijan to Switzerland.

Among other things, EGL 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 Sea before reaching Italy. The basic planning work for the TAP has been completed.

One day natural gas will flow from Azerbaijan through the TAP. To this end, EGL was in negotiations with the Shah Deniz natural gas field funding consortium. Previously, 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 EGL and the National Iranian Gas Export Company (NIGEC), which provides for 5.5 billion cubic meters of natural gas from Iran to be delivered to EGL annually from 2012 onwards . Part deliveries should be made earlier. The US and Israeli governments are hostile to the deal.

literature

  • Bank Sarasin & Cie AG (Ed.): Expert opinion on the assessment of the financial adequacy of the purchase offer made by Axpo Holding AG to the shareholders of EGL AG, Laufenburg . June 17, 2011 ( takeover.ch ).

Web links

Individual evidence

  1. ↑ a b c d e Commercial Register Office of the Canton of Zurich (Ed.): Axpo Trading AG . Commercial register extract. Zurich May 4, 2020.
  2. ↑ Axpo purchase offer. (No longer available online.) EGL, 2011, archived from the original on August 29, 2011 .;
  3. ↑ Network stability: The “Star of Laufenburg” changed everything. VSE, accessed May 4, 2020 .
  4. ↑ Chronik NOK / Axpo 1899 - 1914 - 2014. (PDF) (No longer available online.) Axpo Holding, archived from the original ; accessed on December 24, 2019 .
  5. ↑ a b Commercial Register Office of the Canton of Zurich (Ed.): EGL Trading AG . Commercial register extract. Zurich May 4, 2020.
  6. ↑ Deriwatt relies on EEX derivatives market. In: tarife.de. Retrieved May 4, 2020 .
  7. ↑ Showcase EGL. (No longer available online.) Green-design, archived from the original on April 5, 2014 .;
  8. ↑ Bank Sarasin, p. 10
  9. ↑ a b Asset. Calenia Energia, accessed May 5, 2020 (Italian).
  10. ↑ a b EGL has a 46% stake in a wind farm in northern Spain. In: swissinof.ch. Retrieved May 4, 2020 .
  11. ↑ moneycab: EGL connects the Rizziconi Energia gas-fired combined cycle power plant in Italy. July 14, 2008, accessed on May 5, 2020 (Swiss Standard German).
  12. ↑ EGL (Ed.): Annual Report 2009/10 . S. 16 ( geschaeftsberichte-rating.ch [PDF]).
  13. ↑ Visto bueno para la Central Térmica de La Zarza. In: hoy.es. July 23, 2010, accessed May 5, 2020 (European Spanish).
  14. ↑ Dudas también para el gas. In: hoy.es. August 25, 2013, accessed May 5, 2020 (European Spanish).
  15. ↑ Bank Sarasin, p. 13.
  16. ↑ Axpo: EGL wind farm goes online. In: ee-news.ch. Axpo, accessed on May 5, 2020 .
  17. ↑ Swiss energy producer invests in Spanish biomass projects. In: ecoreporter. September 29, 2005, accessed May 5, 2020 .
  18. ↑ La Peñuca (Spain). In: The Wind Power. Retrieved May 4, 2020 .
  19. ↑ Markus Häfliger Davos: Switzerland woos oil and gas states . In: Neue Zürcher Zeitung . January 27, 2008 ( nzz.ch ).
  20. ↑ Telepolis: Swiss energy company signs billion dollar deal with Iran March 17, 2008, accessed on March 19, 2008.
  21. ↑ EGL: Natural gas supply contract signed with NIGEC on March 17, 2008, accessed on March 19, 2008.