- Annual Report
- Overview
- Foreword from the Chairman of the Board of Directors and CEO
- Market Switzerland
- Market Italy
- Other segments and activities
- Sustainability
- Corporate governance
- Basic principles
- Group structure and shareholders
- Board of Directors
- Executive Board of the Repower Group
- Shareholders' rights of participation
- Change of control and defensive measures
- Auditor
- Information policy
- Implementation of the Ordinance against Excessive Compensation in Listed Stock Companies
- Events after the balance sheet date
- Board of Directors
- Executive Board
- Compensation Report
- Financial Report
- Consolidated Financial Statements of the Repower Group
- Comments on the consolidated financial statements
- Consolidated income statement
- Consolidated statement of comprehensive income
- Consolidated balance sheet
- Changes in consolidated shareholders equity
- Consolidated cash flow statement
- Notes
- 1 Total operating revenue
- 2 Personnel expenses
- 3 Depreciation/amortisation and impairment
- 4 Financial result
- 5 Income taxes
- 6 Result per share
- 7 Tangible assets
- 8 Intangible assets
- 9 Disclosures of interests in other entities (IFRS 12)
- 10 Other financial assets
- 11 Inventories
- 12 Receivables
- 13 Securities and other financial instruments
- 14 Positive/negative replacement values for held-for-trading positions
- 15 Cash and cash equivalents
- 16 Share capital
- 17 Non-current financial liabilities
- 18 Pension fund obligation
- 19 Other provisions
- 20 Other current liabilities
- 21 Current financial liabilities
- 22 Information about net current assets for the cash flow statement
- 23 Transactions with related parties
- 24 Additional disclosures on financial instruments
- 25 Business combinations, disposals and liquidations
- 26 Assets and liabilities held for sale
- 27 Segment reporting
- 28 Contingent liabilities and warranty liabilities
- 29 Obligations under leasing arrangements
- 30 Risk assessment
- 31 Events occurring after the balance sheet date
- Notes to the consolidated financial statements
- Consolidated accounting principles
- Summary of accounting and valuation principles
- Consolidation
- Accounting and valuation principles
- Capital and enterprise value management
- Risk management and financial risk management
- Estimation uncertainty
- Report of the Auditors on the consolidated financial statements
- Financial Statements of Repower AG
- Consolidated Financial Statements of the Repower Group
- Graphics
- Organisation Chart
- Archive
- Hydropower
Market Switzerland
Record hydro production
With 747 GWh of power from 17 hydro plants in Graubünden, Repower's record in Switzerland in 2014 was impressive. But the picture is much less rosy when you consider the low energy prices that have undermined the profitability of hydropower.
Sales & Marketing
During the year under review Repower strengthened and restructured its sales organisation in Switzerland. Operating out of Zurich, the Sales team's job is to acquire new energy utilities for Repower's trading, generation and grid services. It does this in tandem with the established green power business for large customers and energy suppliers in Switzerland and Germany, previously handled by the Renewables Trading team.
In Southeast Switzerland, Repower supplies around 50,000 private and commercial customers with five power products: Aquapower, Purepower, Solarpower, Mixpower and Privapower. The standard product, Aquapower, consists of 100 per cent Swiss hydropower. Purepower is pure green power from Canton Graubünden; Solarpower is 100 per cent solar energy produced in Graubünden; and Mixpower is a low-cost residual mix from European sources. The most recent addition to the Repower offering, Privapower, is an innovative own-use tariff that is now being made available to all customers, not just the primary audience of customers with their own photovoltaic installation (see also the section on grids).
At the end of 2014 Repower announced a partnership with a customer in the liberalised large customer segment, hotelleriesuisse Pontresina. Twelve hotels in Pontresina have joined forces to create a customer pool that has signed an electricity supply agreement with Repower for 2015 and 2016. These hotels together use around the same amount of electricity per year as 1,000 average households. This agreement should be seen in conjunction with the partnership between the industry association hotelleriesuisse Graubünden and Repower, underscoring the shared commitment of creating efficient energy solutions going forward.
The political debate on full electricity market liberalisation in Switzerland is well under way. According to the current schedule, from 2018 all ultimate consumers in Switzerland should have the option of choosing their power provider on the free market. Repower welcomes these moves towards liberalisation.