Economic dimension
Economic performance
GRI 201
Management approach
GRI 103
(103-1, 103-2, 103-3)
Relevance
With the company’s purpose, Alpiq is committed to contributing to a better climate and strengthening the security of supply in Switzerland and in the European markets. To this end, Alpiq pursues a sustainable, financially sound and risk-adjusted energy business model following a clear strategy. Securing long-term economic success is an essential prerequisite for this goal.
Based on the United Nations 2030 Agenda, Alpiq decided to focus on the five sustainability goals with the greatest impact over the next five years:
Management approach
The sustainability goals have been enshrined in Alpiq’s current strategy. Management approach disclosures are included in ‘Activities, brands, products and services’ (GRI 102-2).
Assessment
The key developments in the 2021 reporting year can be found in the Alpiq Holding Ltd. Annual Report 2021.
Direct economic value generated and distributed
GRI 201-1
|
|
|
|
|
|
Economic value generated and distributed |
|
|
Mio. CHF |
2021 |
2020 |
|
Economic value generated 1 |
7,223 |
4,026 |
|
Net revenue from energy transactions and related services |
7,102 |
3,911 |
|
Other operating income |
63 |
65 |
|
Income from associated companies and financial investments |
36 |
25 |
|
Income from sale of assets and subsidiaries |
22 |
25 |
|
Economic value distributed 2 |
7,489 |
3,925 |
|
to supplies opex |
6,960 |
3,460 |
|
to supplies capex |
65 |
66 |
|
to employees |
221 |
186 |
|
to capital providers |
117 |
71 |
|
to government |
125 |
141 |
|
to community |
1 |
1 |
|
Economic value retained 3 |
– 266 |
101 |
1 Net revenue from energy transactions and associated services as well as other operating income are presented on an accrual basis. Income from associated companies and financial investments as well as income from sale of assets and subsidiaries represent payments received during this reporting period.
2 The economic value that is distributed to suppliers (operating expenses), to employees and to government represents costs incurred in the reporting period and is presented on an accrual basis. The other items merely include payments that were transacted during the reporting period and are therefore not reported on an accrual basis.
3 Only continuing operations
The aforementioned financial highlights are based on the scope of consolidation of Alpiq Holding Ltd., which can be found in Note 5.2 of the 2021 consolidated (annual) financial statements of Alpiq Holding Ltd. The ‘Duties paid to the state’ line also contains the taxes paid, fees and water taxes of the associated Swiss partner power plants, as they account for a significant part of the price paid for the purchased energy. The ‘Economic value retained’ cannot be reconciled directly with the earnings after taxes from continued operations of the consolidated (annual) financial statements of Alpiq Holding Ltd., as some items only contain the part of the transactions with an impact on cash flows, meaning that certain non-cash income and expenses, such as deferred taxes or the results of associated companies, are not included.
Defined benefit plan obligations and other retirement plans
GRI 201-3
The group has various employee pension schemes in line with the statutory provisions in the respective country. The group companies in Switzerland are members of the legally independent pension fund PKE Vorsorgestiftung Energie, which is a joint institution of the energy sector. All staff employed in Switzerland are insured in a defined contribution plan, where Alpiq as the employer takes over at least 60 % of the contribution payments. As at 31 December 2021, PKE has a positive coverage ratio of 125.2 % (31 December 2020: 112.5 %). Further details can be found in Note 6.3 of the 2021 consolidated (annual) financial statements of Alpiq Holding Ltd.
Financial assistance received from government
GRI 201-4
In 2021, as in the years 2018 to 2020, Alpiq received a market premium for large-scale hydropower plants in Switzerland. Further details can be found in Note 2.3 of the 2021 consolidated (annual) financial statements of Alpiq Holding Ltd. In addition, Alpiq was able to benefit from contributions from funding programmes for power generation from renewable energy sources in Switzerland and internationally. The rules for the awarding of funds are the same for all market participants.