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

 

 

 

 

2023

2022

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

73

3

 

59

4

– 14

Other operating income

4

 

 

2

1

 

Operating expenses

 

 

 

 

 

 

Energy and inventory costs

– 475

– 19

– 13

– 774

– 18

– 25

Other operating expenses

 

 

 

– 1

 

 

Financial result

 

 

 

 

 

 

Interest expense

 

 

 

 

 

– 1

1 Net revenue also contains changes in 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 2023

31 Dec 2022

CHF million

Partner power plants

Other associates

Other related companies

Partner power plants

Other associates

Other related companies

Assets

 

 

 

 

 

 

Other non-current assets

1

4

1

1

6

1

Receivables

14

 

 

3

1

 

Prepayments and accrued income 1

80

1

 

8

 

 

Current term deposits

4

7

 

5

2

 

Liabilities

 

 

 

 

 

 

Other current liabilities

6

1

1

6

1

2

Accruals and deferred income 1

12

2

 

236

 

 

1 Includes mainly accruals related to fund performance and annual costs for Kernkraftwerk Gösgen-Däniken AG and Kernkraftwerk Leibstadt AG.

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 are 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 31 GWh at 31 December 2023 and a gross value of CHF 1 million. In the previous year, there was no outstanding contract volume. 

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

2023

2022

2023

2022

Fixed and variable remuneration

1.9

1.8

6.6

4.5

Social security contributions 1

 

 

1.1

0.9

Total

1.9

1.8

7.7

5.4

1 Including employer contributions to AHV / IV, the company pension fund, occupational and non-occupational accident insurance, and sick pay insurance.

The total compensation for the Board of Directors and the Executive Board includes only short-term employee benefits. No share-based payments, severance payments or other long-term benefit payments were made to the members of the Board of Directors or the Executive Board.