19 Provisions
|
CHF thousand |
Provisions for onerous contracts |
Other risks |
Total |
|
|
|
|
|
|
Carrying value at 31 December 2019 |
- |
16,071 |
16,071 |
|
thereof current |
- |
- |
- |
|
thereof long-term |
- |
16,071 |
16,071 |
|
|
|
|
|
|
Carrying value at 31 December 2020 |
20,929 |
1,812 |
22,741 |
|
thereof current |
6,702 |
736 |
7,438 |
|
thereof long-term |
14,227 |
1,076 |
15,303 |
Procurement contract risks
The decision on whether there is a threat of loss on a long-term sales or procurement contract and a provision is to be recognised essentially depends on the situation regarding the relevant contractual prices and expected procurement or sales prices.
In the 2020 financial year additions in provisions totalling CHF 21,002 thousand were recognised under energy procurement for identifiable losses on procurement contracts. Of this amount, CHF 16,469 thousand falls to procurement contracts for electricity and CHF 4,533 to guarantees of origin. The prior year the provision for procurement contracts existing on 1 January 2019 was fully reversed via energy procurement.
Other risks
The prior year, other risks had included a provision of CHF 13,228 thousand for negative replacements values of the interest rate swaps. In the year under review the interest rate swaps were closed and the provision was reversed in full via financial expenses.