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 Schweizer Kraftwerksbeteiligungs-AG have significant influence over the Alpiq Group and are referred to below as “Other related companies”.
Transactions between the Group and related companies
|
|
|
|
||||
|
|
2021 |
2020 |
||||
|
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 |
64 |
19 |
|
53 |
29 |
|
|
Other operating income |
2 |
1 |
|
2 |
|
|
|
Operating expenses |
|
|
|
|
|
|
|
Energy and inventory costs |
– 399 |
– 15 |
– 7 |
– 452 |
– 13 |
|
|
Other operating expenses |
– 1 |
|
|
– 1 |
|
|
Outstanding balances with related companies at the reporting date
|
|
|
|
|
|
|
|
|
|
31 Dec 2021 |
31 Dec 2020 |
||||
|
CHF million |
Partner power plants |
Other associates |
Other related companies |
Partner power plants |
Other associates |
Other related companies |
|
Assets |
|
|
|
|
|
|
|
Other non-current assets |
1 |
6 |
2 |
1 |
7 |
|
|
Derivative financial instruments |
|
|
2 |
|
|
|
|
Receivables |
21 |
1 |
|
11 |
2 |
|
|
Prepayments and accrued income |
104 |
|
|
25 |
|
|
|
Current term deposits |
8 |
2 |
|
47 |
2 |
|
|
Liabilities |
|
|
|
|
|
|
|
Current financial liabilities |
|
|
141 |
|
|
|
|
Other current liabilities |
28 |
1 |
1 |
9 |
1 |
|
|
Derivative financial instruments |
|
|
|
|
1 |
|
|
Accruals and deferred income |
8 |
|
1 |
18 |
|
|
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 49 GWh at 31 December 2021 (previous year: 271 GWh) and a gross value of CHF 5 million (CHF 14 million).
Current financial liabilities to other related companies pertain to interest-bearing loans payable to shareholders with significant influence on the Alpiq Group. The interest rate is set at 1.5 %.
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 |
2021 |
2020 |
2021 |
2020 |
|
Fixed and variable remuneration |
1.3 |
2.0 |
4.0 |
3.8 |
|
Social security contributions |
0.2 |
0.3 |
1.1 |
1.0 |
|
Total |
1.5 |
2.3 |
5.1 |
4.8 |
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.