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
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|
|
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|
2023 |
2022 |
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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
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|
|
|
|
|
|
|
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:
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|
|
||
|
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.