1Net sales

Revenue from energy sales is recognised in the income statement when delivery of goods or services has been performed. In particular, significantly higher average energy prices during 2022 led to an increase in revenue from energy sales. The costs of energy procurement developed analogously (see Note 4).

Repower made a successful bid in the Swissgrid auction for the hydropower reserve and will retain a specific volume of water to keep energy production of 24 GWh on standby until May 2023. Repower is receiving a retention fee for the period from December 2022 to May 2023. This retention fee is recognised proportionally to the time elapsed as revenue from energy business.

Long-term contracts are recognised in accordance with the percentage of completion method. In the year under review, revenue from long-term contracts came to CHF 2,690 thousand (prior year: CHF 6,363 thousand).