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Low-Carbon Electricity 99% LOW-CARBON ELECTRICITY ANNUAL REPORT OF GEN ENERGIJA AND THE GEN GROUP FOR 2020 ANNUAL REPORT OF GEN ENERGIJA AND THE GEN GROUP FOR 2020 Krško, June 2021 100% COMMITTED In 2050, Slovenia will be a climate-neutral society that is resistant to climate change and that will function on the principles of sustainable development. The achievement of such an ambitious goal will require the 100% commitment of all stakeholders. In addition to obligations, that goal also brings opportunities for individuals, society and the economy. The expected positive effects include the reduction of dependence on energy imports, new development opportunities on common energy markets, the creation of green jobs, nature conservation and the improved competitiveness of Slovenian companies. CLIMATE NEUTRALITY IS AN OPPORTUNITY The GEN Group produces 99% of electricity Structure of electricity production sources at GEN Group companies from low-carbon energy sources: nuclear in 2020 and hydro energy. Our reliable operations contribute to the stability of the electric Hydroelectric power Thermal power plant: TEB plant: SEL + HESS 1.4% power grid. We thus contribute to a 16% high standard of life and the improving competitiveness of the Slovenian economy. 99% ELECTRICITY FROM LOW- CARBON ENERGY SOURCES Structure of electricity production sources in Slovenia in 2020 Nuclear power plant: NEK 82% Hidroelectric Thermal power plant power plant 32% 26% We do not see the goal of achieving climate neutrality as simply our responsibility; we 67% ELECTRICITY see it first and foremost asan opportunity FROM LOW- for decarbonisation and the strengthening CARBON ENERGY SOURCES of the resilience of the GEN Group and Slovenian society, which we supply low- carbon electricity. Nuclear power plant 41% More information about the GEN Group’s low-carbon portfolio can be found on page 70 BALANCING THE ENERGY TRILEMMA Reliability, equity and environmental and knowledge. We pursue those values in climate sustainability. The three principles all three core activities of GEN Group of the energy trilemma that the GEN Group companies: electricity production, trading pursues in a balanced manner through its and sales, and the planning of development sustainable operations. Our core values and investments. are: reliability, safety, sustainability and PRODUCTION RELIABILITY SAFETY Vision of the GEN Group: The GEN Group is assuming a leading regional role in the reliable, safe, competitive and low-carbon supply of energy to customers. SUSTAINABILITY KNOWLEDGE TRADING DEVELOPMENT AND AND SALES INVESTMENTS More information about the GEN Group’s values and activities can be found on page 58 THE GEN GROUP AT A GLANCE The GEN Group is one of the largest and strongest business groups in investment terms in Slovenia. We manage an integrated electricity supply chain: • we produce electricity from low-carbon sources: nuclear and hydro; • we trade and sell electricity on the domestic market, and on more than 20 retail and wholesale markets across Europe; and • we channel our capital into development and investments, in particular the continuous and comprehensive maintenance of existing production facilities, and the responsible planning and construction of new, low- carbon production capacities for the purpose of supplying electricity to Slovenia. 6,300—6,800 GWh AVERAGE ANNUAL ELECTRICITY PRODUCTION OF OUR POWER PLANTS 30% SHARE OF THE SLOVENIA’S TOTAL ELECTRICITY PRODUCTION 22 EUROPEAN MARKETS WHERE WE ARE PRESENT WITH TRADING AND SALES ACTIVITIES OUR GENERATION UNITS – POWER PLANTS Nuclear power plant Hydroelectric power plant Thermal power plant Hydroelectric power plant Moste Solar power plant Hydroelectric power plant Hydroelectric power plant Mavčiče Vrhovo Hydroelectric power plant Medvode Thermal power plant Brestanica Jedrska elektrarna Krško Hydroelectric power plant Boštanj Hydroelectric power plant Hydroelectric power plant Arto - Blanca Mokrice planned Hydroelectric power plant Brežice Hydroelectric power plant Krško PRESENCE OF GROUP COMPANIES ON EUROPEAN ELECTRICITY AND NATURAL GAS MARKETS European 22 markets 16 Subsidiaries Subsidiaries Electricity Electricity and natural gas Natural gas SELF-SUFFICIENT SUPPLY IN SLOVENIA The COVID-19 pandemic brought changes On the contrary, the GEN Group ensured and uncertainty in 2020, while we were the even more reliable supply of electricity, also given a clear view of the importance and thus enhanced its contribution to the of the national self-sufficient supply of quality of life of citizens and the well-being strategic goods, such as food, water and of society as a whole. We continued to energy. Due to the adoption of timely and make investments and thus contributed to effective measures, the supply of electricity economic growth in Slovenia. to the public sector, and to household and industrial customers never came under threat. ELECTRICITY CONSUMPTION BY HOUSEHOLDS 9% 13% INCREASE IN INCREASE IN ELECTRICITY ELECTRICITY CONSUMPTION IN CONSUMPTION IN NOVEMBER 2020 RELATIVE MARCH 2020 RELATIVE TO NOVEMBER 2019 TO MARCH 2019 Relative to the same months in 2019, the most significant difference was recorded in November 2020 when consumption was up by 13% relative to November 2019, followed by March 2020 when consumption was 9% higher than in March 2019. The differences in household electricity consumption during the aforementioned months in 2020 relative to the same months in 2019 were primarily the result of the changing conditions brought about More about the investments by the COVID-19 epidemic. of the GEN Group in 2020 can be found on page 80 Source: SORS RESILIENT ENERGY SECTOR A resilient electricity supply sector requires The GEN Group proactively and decisively timely and prudent engineering, systemic, co-creates a resilient and sustainably organisational and socioeconomic oriented electric power grid for the future measures to manage and effectively supply of clean energy to Slovenia. address disruptions that could weaken or even bring a halt to the supply of energy. The measures implemented by the GEN Group to achieve resilience effectively CLEAN SOURCES 99% address all three dimensions of the AND EFFICIENT OF ELECTRICITY TECHNOLOGIES FROM LOW- electricity sector’s resilience: CARBON ENERGY SOURCES • the availability of clean energy sources, and effective and proven production technologies; • the uninterrupted, reliable and safe functioning of production facilities; and RELIABLE AND SAFE 3,674 GWh • a stable economic basis for operations, OPERATIONS OF ELECTRICITY PRODUCED trading and investments. STABLE MILLION ECONOMIC 64.2 OF PROFIT BASIS More about the functioning of our production facilities in 2020 can be found on page 70 CLEAN AND AFFORDABLE ENERGY A flexible and resilient society is required to At the national and regional levels, the GEN effectively address mutually related health, Group contributes directly and indirectly to environmental-climate and socioeconomic the achievement of goals relating to energy, challenges. Agenda 2030 for sustainable the environment and climate, economic development, which was adopted by UN growth and innovations, sustainable Member States, defines global sustainable communities, and the health and education development goals to achieve that. thereof. The focus of our attention is on sustainable development goal no. 7: providing all citizens affordable and clean energy. 17 1 16 2 15 3 Quality education 14 SUSTAINABLE 4 DEVELOPMENT Climate action 13 GOALS 5 12 6 Responsible consumption 11 and production 10 Sustainable cities Affordable and and communities clean energy Decent work and Industry, innovation and economic growth infrastructure More on the achievement of sustainable development goals can be found on page 225. PROJECTS TO ACHIEVE LOW-CARBON PRODUCTION AND RESILIENCE Despite the extraordinary conditions, • In terms of trading and sales, the we implemented planned key investment GEN-I Group responded successfully in 2020: to demanding market conditions and made an essential contribution to cost- • The NEK continued implementation effective risk management. It increased works in the scope of projects in the the volume of electricity and natural second and third phases of the Safety gas trading, and thus demonstrated its Upgrade Programme, while dry cask understanding of the adverse conditions storage was successfully set up for in which its customers in Slovenia found spent nuclear fuel and the drafting of themselves. It entered the market with environmental impact reports for the the new ‘Carbon-Free Energy’ brand. extension of NEK’s operating life began • The TEB successfully implemented the no. 7 backup gas-fired production unit project. • HESS continued with preparations for the construction of the last hydroelectric power plant in the chain, the Mokrice HPP. More about investments can be found on page 80 EUR 104.59 MILLION OF INVESTMENTS GREEN TRANSFORMATION AND DEVELOPMENT OF NEW SERVICES FOR CUSTOMERS THE GEN-I GROUP’S SHARE OF THE RETAIL MARKET EXCEEDS 25% JEK2: a much-needed, feasible and economically justified project The JEK2 is a key measure for accelerating the achievement of the goals of climate neutrality and the decarbonisation of the Slovenian electric power grid, while it will also contribute to reducing Slovenia’s dependence on energy imports. Studies of the justification of the project conducted to date have shown that JEK2 is a crucial and feasible project for the future supply of domestically produced electricity to Slovenia, and is the appropriate response
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