6.2 Related party transactions
Related parties include partner power plants, other associates and major shareholders with significant influence on the Alpiq Group as well as employee pension schemes, the Board of Directors and the Executive Board. EOS Holding SA and, since December 2019, also Schweizer Kraftwerksbeteiligungs-AG have significant influence over the Alpiq Group and are referred to below as “Other related companies”. The significant influence of EDF Alpes Investissements Sàrl ended in May 2019.
Transactions between the Group and related companies
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|
|
|
||||
|
|
2020 |
2019 |
||||
|
CHF million |
Partner power plants |
Other associates |
Other related companies |
Partner power plants |
Other associates |
Other related companies |
|
Total revenue and other income |
|
|
|
|
|
|
|
Net revenue 1 |
53 |
29 |
|
50 |
32 |
– 8 |
|
Other operating income |
2 |
|
|
2 |
|
|
|
Operating expenses |
|
|
|
|
|
|
|
Energy and inventory costs |
– 452 |
– 13 |
|
– 345 |
– 16 |
– 146 |
|
Other operating expenses |
– 1 |
|
|
|
|
|
1 The negative net revenue with other related companies in the previous year is attributable to the change in the fair value measurement of energy derivatives, which are presented in net revenue. For more explanations on accounting policies, please refer to note 2.2.
Outstanding balances with related companies at the reporting date
|
|
|
|
|
|
|
|
31 Dec 2020 |
31 Dec 2019 |
||
|
CHF million |
Partner power plants |
Other associates |
Partner power plants |
Other associates |
|
Assets |
|
|
|
|
|
Other non-current assets |
1 |
7 |
1 |
3 |
|
Receivables |
11 |
2 |
5 |
1 |
|
Prepayments and accrued income |
25 |
|
70 |
|
|
Current term deposits |
47 |
2 |
65 |
1 |
|
Liabilities |
|
|
|
|
|
Accruals and deferred income |
9 |
1 |
3 |
1 |
|
Derivative financial instruments |
|
1 |
|
|
|
Accruals and deferred income |
18 |
|
4 |
|
Investments in partner power plants and other associates are presented in note 4.3. The Alpiq Group has contractual power offtake arrangements with partner power plants. Electricity is purchased according to the ownership interest, although no volumes have been agreed contractually. Power generation capacity depends on optimum utilisation of the power plants. The costs for power production at the partner power plants are assumed on a cost-plus basis.
Non-financial energy trading contracts outstanding with other associates and other related companies comprised a contract volume of 271 GWh at 31 December 2020 (previous year: 0 GWh) and a gross value of CHF 14 million (CHF 0 million).
Details of transactions between the Group and its employee pension schemes are disclosed in note 6.3.
Members of the Board of Directors and the Executive Board
The total compensation for the Board of Directors and the Executive Board breaks down as follows:
|
|
|
|
||
|
|
Board of Directors |
Executive Board |
||
|
CHF million |
2020 |
2019 |
2020 |
2019 |
|
Fixed and variable remuneration |
2.0 |
2.0 |
3.8 |
5.8 |
|
Social security contributions |
0.3 |
0.2 |
1.0 |
1.1 |
|
Total |
2.3 |
2.2 |
4.8 |
6.9 |
Detailed information on the total compensation of the Board of Directors and the Executive Board is presented in the “Corporate Governance” section of the Annual Report.