1Net sales

Declining energy prices have a generally curbing effect on net revenues and energy procurement costs (see Note 4). Repower’s hedging strategy of selling the majority of the electricity generated at its own power plants at hedged prices thus safeguarded margins at its generation assets from the slump in prices.

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 0 thousand (prior year: CHF 2,690 thousand).