POWERING THE FUTURE
Wien Energie Annual Review 2013 Wien Energie Annual Review 2013 Wien Energie
Wien Energie Thomas-Klestil-Platz 14 1030 Vienna
Tel: 0800 500 800 Mon. – Fri. 07:30 to 18:00 www.wienenergie.at Wien Energie, a partner of EnergieAllianz Austria.
Wien Energie meets the future challenges of the energy industry. Renewable sources of energy
CO2 emissions Energy efficiency Corporate structures Customer orientation Security of supply
WE ARE FULLY DEDICATED TO …
... THE INCREASED USE OF RENEWABLE ENERGY SOURCES. Wien Energie intends to increase the amount of energy used from renewable sources in the coming years. A range of projects was completed and launched in :
• Modernisation of the Opponitz hydropower plant • Successful continuation of the citizen solar power plant initiative with the commissions of installations in Liesing, Hietzing, Wien Mitte and other locations • Successful implementation of customer-related solar projects such as for Spar or the Trumau local authorities
WIEN ENERGIE ANNUAL REVIEW WE ARE FULLY DEDICATED TO …
… STREAMLINING THE COMPANY’S STRUCTURE Wien Energie has boosted its operational efficiency by integrating its subsidiary Fernwärme Wien GmbH. Customers benefit from energy solutions from a single source.
... ABSOLUTE CUSTOMER ORIENTATION Wien Energie ensures that each and every customer matter is handled optimally and competently at the Wien Energie advice centre (Wien Energie Haus) on Mariahilfer Strasse, at its customer services centres and the customer care centre. The high- light in was the opening of the new customer service centre at Spittelau.
… BOOSTING ENERGY EFFICIENCY AND
CUTTING CO2 EMISSIONS Innovation is the driving force. Wien Energie is involved in a unique research collaboration with Wiener Netze and Siemens at Seestadt Aspern focusing on the future issues of energy and building tech- nology (for details, see page ). And the new high-pressure heat storage facility in Simmering is the first of its kind (page ).
... SAFEGUARDING THE HIGH SECURITY OF SUPPLY Wien Energie invests in the expansion and diversification of power generation, and is set to increase the production of electricity and district heating for its own requirements in the next few years. Decen- tralised forms of production will continue to grow in importance here.
ANNUAL REVIEW WIEN ENERGIE KEY PERFORMANCE INDICATORS
Key Performance Indicators
KEY FINANCIAL AND PERSONNEL INDICATORS in EUR million (unless otherwise stated) 20133) SFY 20122) 2011/12 2010/111) 2009/101)
Turnover 1,944.0 547.5 2,049.5 2,040.1 2,496.6
EBIT -293.0 4.3 -221.2 61.5 60.1
Financial result 25.0 -12.3 -36.8 20.8 19.7
Result of ordinary business activities -268.0 -8.0 -258 82.3 79.7
Profit/loss for the period -268.3 -8.0 -259.4 80.1 78.6
Headcount (average in FTEs) 2,767 2,731 2,779 2,738 5,493
KEY OPERATIONAL FIGURES in GWh 2013 2012 2011/12 2010/11 2009/10
Electricity Production4) 3,974.2 4,793.2 4,996.9 6,772.2 7,201.1
Sales 9,526.9 9,586.6 9,511.1 9,338.9 9,456.3
Natural gas Sales 7,792.8 7,802.4 7,971.6 8,434.0 8,703.5
Heat Production4) 5,606.9 5,205.6 5,303.8 5,449.6 5,439.4
Sales 6,166.8 5,758.5 5,742.0 5,706.0 5,759.9
) In the / financial year, electricity and gas network companies were unbundled. ) Short financial year ( October - December ) ) In the financial year, the primary district heating network and part of the telecommunications division were unbundled. ª) Fully and proportionally consolidated subsidiaries
TABLE OF CONTENTS WIEN ENERGIE ANNUAL REVIEW
Interview with the General Managers Competent Advice Robert Grüneis, Thomas Irschik and Susanna Customer care centre at Spittelau Zapreva talk about the current challenges in the A reliable partner for business customers energy industry and the company’s strategy. Range of services
Wien Energie Social Responsibility Embodied Company profile Wien Energie social ombudsman Strategic investments Customer Advisory Board Milestones in the company’s history Corporate governance Energy Saving Made Easy
Business Models and Markets Production Value-added chain Production plants – electricity Supply area and power plant sites High-pressure heat storage facility The Vienna Model Heat production facilities
Report – E-mobility Report – Spittelau Waste Incineration Plant
Europe’s Energy Markets in Upheaval Sales
Corporate Strategy Pricing policy and influencing factors Strategic objectives Sales volume trend Sustainably-minded company policy Labelling the origin of electricity
Report – District Cooling Report – Energy Research for the Future
Energy Efficiency – the Watchword of our Time Strong Team Personnel strategy Increased Use of Renewable Energy Comprehensive training and further education Modernisation of the Opponitz hydropower plant Health and safety Decentralised energy production Communication and motivation Sustainable energy concept Trumau local community Analysis of Business Development Report – Citizen Solar Power Plants How do photovoltaics work? Management Bodies Spar customers solar power plant Contact Details and Glossary
ANNUAL REVIEW WIEN ENERGIE INTERVIEW WITH THE GENERAL MANAGERS Wien Energie undergoing Change The management team of Wien Energie GmbH, Robert Grüneis, Thomas Irschik and Susanna Zapreva, talk about the current challenges in the energy industry, strategic solutions and new business areas.
In the financial year, Wien Energie reported an – more service, more expertise in providing advisory annual net loss for the third consecutive year. Why? services and a greater degree of reliability. And if we ignore the negative non-cash effects on the IRSCHIK: There were a range of mainly external reasons annual result mentioned before, we were again able that ultimately led to the Group’s annual net loss of to generating a positive operating result in . -µ. million euro. In keeping with a conservative balance sheet policy, we had to take action in the form Fernwärme Wien GmbH was integrated into of non-cash impairment charges and provisions totalling Wien Energie GmbH in . What are you trying ªª.¶ million euro for Wien Energie’s thermal produc- to achieve with this? tion. In the current energy market climate, operations are not profitable due to the low electricity spot market IRSCHIK: Both companies have always been closely price together with unchanged district heating prices linked to each other; after all, nearly two-thirds of the despite higher costs for primary energy – we had to district heating produced comes from Wien Energie’s reflect these facts on the balance sheet. calorific power plants. And there was also a range of overlapping services. With the merger of the two ZAPREVA: Wien Energie has a relatively high proportion companies, we aim to harness synergies and cost of calorific power plants in its production mix, which are advantages by combining processes, becoming leaner very efficient thanks to the co-generation technology and more powerful overall. At this point, I would like they employ. We need to hold our own in market which is to express my thanks to everyone involved here – we not governed by the rules of supply of demand but which were able to complete all of the legal and organisa- is subjected to significant distortions. The high level of tional requirements in record time. The focus of the subsidies flowing into nuclear power, coal and renewa- next few years will be on growing together to become ble energy sources has triggered a fall in prices on spot a successful company in the market. markets. We really feel this fall in prices strongly. Taken as a whole, this situation has overshadowed the suc- GRÜNEIS: I think it is important to emphasis the market- cesses we were able to achieve in in many business side consequences of this merger. We have brought areas, such as renewable energies. together all services for electricity, gas, heating, cooling and decentralised solutions under one roof. GRÜNEIS: Of course, the additional competition plays a This makes us unique. The new customer service cen- key role in the development of earnings, although Wien tre at Spittelau symbolises this – here our customer Energie has been able to hold its own well here. We are are given competent advice about any energy-related certainly able to compete with low-cost providers with solution. This is where Wien Energie can be experi- our tariff models. We offer our customers so much more enced by more than µ, customers every year.
INTERVIEW WITH THE GENERAL MANAGERS WIEN ENERGIE ANNUAL REVIEW
From left to right: Thomas Irschik, Susanna Zapreva, Robert Grüneis
ANNUAL REVIEW WIEN ENERGIE INTERVIEW WITH THE GENERAL MANAGERS
Robert Grüneis (born 1968) has been involved in a num - Susanna Zapreva (born 1973) studied electrical engineer- ber of large strategic projects since he joined the Wiener ing at the Vienna University of Technology and Business Stadtwerke Group as a lawyer in 1995. These included the Administration at the Vienna University of Economics, and founding of EnergieAllianz Austria GmbH and Wien Energie was a university assistant at the Institute for Electrical Sys- GmbH in 2001. In 2003, Mr Grüneis assumed responsibility tems at the Vienna University of Technology, where she also for PR at Wien Energie and became an authorised signatory earned her doctorate. She began her career as a consultant. one year later. Since 1 February 2008, he has been General She subsequently joined Wien Energie through the former Manager of Wien Energie GmbH, responsible for the areas subsidiary Wienstrom GmbH. In March 2009, she became of communication and marketing, sales, public affairs and General Manager of Wienstrom GmbH. In April 2010, she be- telecommunications. came General Manager of Wien Energie GmbH and, in addition to this, General Manager of Fernwärme Wien GmbH in Febru- ary 2013. Since the merger of the two companies in August 2013, Ms Zapreva has been General Manager of Wien Energie and is responsible for the areas of energy industry and trade, thermal production, regenerative production and investment management, waste recycling, energy services, corporate de- velopment, and research and innovation management.
Can you name some clear synergies you want to firm to it because it enables us to combine the supply harness? of gas, electricity, heating and cooling in a very environmentally friendly way. This also includes the IRSCHIK: As has already been said, our focus is on opti- fact that we are expanding the use of renewable energy mising and reconciling processes, as well as harmonis- sources, with a particular focus on decentralised ing billing and IT systems. It is also on boosting sales, energy solutions, and that we intend to continue for which we launched a comprehensive project in . supporting our customers in efforts to improve their energy efficiency. This means that the current focus Does the Vienna Model need to be called into is to find a new balance within this model. question in view of the challenges facing thermal production mentioned before? How do you intend to promote decentralised production facilities? ZAPREVA: The Vienna Model, which has proven itself time and again over the years, is founded on several, very ZAPREVA: We are taking a number of different robust pillars. And even though current electricity approaches. For instance, the citizen solar power plants prices pose particular challenges for us, we are holding which have been well received by the population and
INTERVIEW WITH THE GENERAL MANAGERS WIEN ENERGIE ANNUAL REVIEW
or save and Wien Energie from a further diversification of the production mix.
What other action has Wien Energie taken to ensure customer loyalty?
GRÜNEIS: Wien Energie has very clear and convincing unique selling propositions. Not only do we provide energy but also innovative integrated supply concepts that bring together the best possibilities. When choos- ing between energy supply concepts, customers need to be able to rely on competent advice – and this is what sets Wien Energie apart. This also applies to our tariff models, in addition to the decentralised production facilities mentioned before – the customer can, for example, choose between a fixed price and a tariff which is linked to developments on the electricity spot markets. In order for us to be able to address varying needs in an even more individualised way in the future, we launched a comprehensive restructuring project for Thomas Irschik the sales division in , defining different customer (born 1955) started his career in sales at IBM Austria until profiles so that we can serve them even better with he became the head of Marketing, Sales and Public Affairs at Fernwärme Wien GmbH in 1995 and then an authorised tailored services. signatory in 1996. In 2002, Mr Irschik was appointed Re- gional General Manager of Wien Energie Vertrieb GmbH Let us talk now about the problems on energy & Co KG and, one year later, went on to become General markets mentioned before. What is going wrong at Manager of EnergieAllianz Austria GmbH. From 2009 until the moment in your opinion? its integration in Wien Energie GmbH on 1 August 2013, he was General Manager of Fernwärme Wien GmbH. Since ZAPREVA: The European energy market was liberalised 1 February 2013, Mr Irschik has been General Manager of more than ten years ago, and this fundamental idea was Wien Energie GmbH, where he is responsible for Commer- cial Affairs, Controlling and Risk Management, Human Re- and is the right one. The market should be able to source, Organisation and Legal Affairs, and Infrastructure determine a fair and proper price for energy and not be and IT. distorted by grants and subsidies, which is currently the case. In my opinion, the conditions for fair competi- tion arise where efficient and commercial viable meas- ures have the upper hand. This is not the case in Europe at the moment because the prevailing system of subsi- dies creates disparities in the system. For instance, co-generation plants in Germany are heavily subsidised; in Austria they are not. However, both markets are in which we expanded to include a voucher model last competition with each other. The competition is between year. We were also able to bring new, combined subsidies and not between the best energy solutions. products to the market in , which combine the Aspects relating to security of supply in particular advantages of heat pumps and photovoltaics by way receive too little attention. Secure, weather-resistant of example. Overall, the aim is to create intelligent energy production cannot have the same price as vola- holistic solutions, which we develop for residential tile production quantities from sources such as wind and business customers. and solar production facilities.
IRSCHIK: With these solutions, the customer benefits GRÜNEIS: The subsidies in question are after all to be from an all-inclusive package. For instance, in the case paid for by the customer through a range of levies. Only of so-called SolarKraft solutions, we plan, build and approximately percent of the price paid for a kilowatt operate photovoltaic installations on the buildings or hour of electricity is attributable to the actual energy land of our customers for them to supply themselves price – ¶ percent is for taxes and fees and the remain- or for the energy to be fed into the grid. These are ing amount for the powergrid charge. Wien Energie has very exciting possibilities which bring benefits to kept the energy price for electricity unchanged for more everyone involved – the customer from what they earn than four years. It was even reduced in – despite
¡ ANNUAL REVIEW WIEN ENERGIE INTERVIEW WITH THE GENERAL MANAGERS
ROBERT GRÜNEIS: SUSANNA ZAPREVA: “Not only do we provide energy “We will continue to promote but also innovative integrated increased flexibility and diversity supply concepts that bring in the portfolio, as well as together the best possibilities.” decentralised solutions.”
inflation and volatile prices for primary energy sources. production facilities, which are modernised on an This price stability is often ignored in public discus- ongoing basis and brought in line with the latest sions. Energy has a value, while the environmentally technological standards. For instance, in the case of friendly and reliable supply of energy has an added the modernisation of the Spittelau waste incineration value – in my view this must be reflected in the market plant, the high-temperature catalytic converter used design. up to now has been replaced with a low-temperature solution. This means that we save around five million How is Wien Energie handling the requirements to cubic metres of natural gas despite a higher produc- improve energy efficiency? tion volume. And the high-pressure heat storage facility opened in serves to increase the amount GRÜNEIS: Improving energy efficiency has been a core of energy generated. The investment required here is issue at Wien Energie for many years – indeed it is a key an investment in shaping the supply of energy to pillar of the Vienna Model mentioned before. We provide Vienna for the future. our customer with effective support to make savings with advisory services and in-depth information avail- What progress did you make in the district able in both the customer magazine and online. In , cooling segment in ? we set a new focus for this objective as part of our energy efficiency offensive. These “paid” advisory ser- ZAPREVA: We continue to pursue the objective of vices have also become an important part of our busi- increasing the current district cooling output of ness model in the case of complex issues and projects, around megawatts. In , we took a number particularly for business and key account customers. of key expansion steps in various projects, such as with the launch of the energy and district cooling IRSCHIK: We work hard to improve our energy efficiency project at the Vienna Main Railway Station, the com- on an ongoing basis. Using a detailed energy flow dia- missioning of the Schottenring district cooling cen- gram, we are able to analyse accurately internal con- tre, building a refrigeration centre on Renngasse in sumption flows and identify action that can be taken to Vienna’s st District or the preliminary work to supply optimise the situation. This particularly applies to our cold air to Vienna North Hospital [Krankenhaus Nord].
INTERVIEW WITH THE GENERAL MANAGERS WIEN ENERGIE ANNUAL REVIEW
portfolio. We intend to increase the proportion of energy produced from renewable sources from around per- cent at the moment to percent by , and this pro- portion is set to be increased for heat production as well. The decentralised production forms mentioned above will continue to grow in importance in the coming years. Our aim here is also to develop new business models with intelligent solutions so that we are in the position not only to recognise the opportunities presented by the market, but also to make commercially viable use of them.
IRSCHIK: In order that Wien Energie is also able to finance this forward-looking objective, we will work hard to safeguard earning power in the long term. This makes the further integration of district heating just as impor- tant as taking a close look at each and every business unit to determine how efficient they operate. The situa- tion in both the energy industry and the wider economy will, in all likelihood, remain precarious in the coming years. This makes it all the more important that we THOMAS IRSCHIK: follow a strict course of consolidation that gives us the “We will continue to work power to be able to implement the planned investments, which will amount to around µ million euro over the hard in the future to next five years. safeguard earning power GRÜNEIS: The city of Vienna is growing by more than in the long term.” ª, people every year. And we will do everything we can to ensure that we remain the number one choice for every member of the population in terms of energy What are the most important strategic goals you supply. To this end, we will boost sales, further develop will pursue in the coming years? our range of products and services, and develop inno- vative all-round concepts relating to the future supply Zapreva: As regards energy production, we will continue of energy to our markets thanks to our strength in to promote increased flexibility and diversity in the innovation.
ANNUAL REVIEW WIEN ENERGIE RUBRIKENTITEL Wien Energie – WE BRING OUR ENERGY TO THE PEOPLE.
VALUES
This is important to us. • Customer orientation: Our customers are the centre of our business.
• Sense of responsibility: Together we assume responsibility for our environment and resources. MISSION • Quality: We achieve Why we are here. commercially impressive and • We build on our sustainable results and traditional objective to actively contribute to the VISION supply electricity, gas success of the company. and district heating in an This is what we want to achieve. environmentally friendly way. • Dedication: We believe in • We are Austria’s leading motivation, dedication and energy company and impress • We rely on innovations in the confidence. our customers with our supply of energy, increase environmentally minded the use of renewable energy • Trust: Our collaboration is action, innovations and sources and improve energy based on trust, respect and service. efficiency in all areas. appreciation.
EXCERPTS FROM THE COMPANY’S HISTORY 1899 1902 1924 1934 1944/45 1964
• Company founded • Simmering steam- • The Opponitz • Natural gas used to • Heavy damage • The first waste with the name powered power hydropower plant fire boilers at the sustained by all incineration plant ‘Elektrizitätswerke’. plant entered brought online. Simmering power plants; however, at was taken into service, providing plant for the first the end of 1945, 75 service in Vienna electricity to time. percent of all plants at Flötzersteig. Vienna’s tramway were operational network for the again. first time.
RUBRIKENTITEL WIEN ENERGIE ANNUAL REVIEW
As Austria’s largest energy service company, Wien Energie safeguards the uninterrupted supply of energy and all of the associated services to the city of Vienna and the sur- rounding area around the clock.
Austria’s largest energy service provider
Wien Energie is responsible for ensuring the reliable supply of electricity, natural gas and heating to around two million people, , businesses and industrial facilities, as well as ª, farms in the Greater Vienna metropolitan area. Activities also performed by the company include waste recycling, providing energy- related advice and services, facility management and telecommunications. With a turnover of around EUR ,Àªª million in the financial year, Wien Energie is one of the top companies in Austria in terms of sales revenues and one of the largest employers in Vienna with an average of ,¶¶ employees. >
Wiener Stadtwerke Holding AG Wholly owned by the City of Vienna
Wien Energie GmbH Wiener Netze GmbH 100% 100%
In this way, we create EnergieAllianz Wien Energie Vertrieb GmbH e&t Energie Handels GmbH the basis for the Austria GmbH & Co KG 45% quality of life and 45% 100% Energiecomfort Energie- & EconGas ensure the success of Burgenland Holding AG Gebäudemanagement GmbH GmbH 6.59% our customers and of 100% 16.51% Wien Energie Please refer to page µ for a detailed list of all subsidiaries and participations. every day. You can find an overview of the structure of Wiener Stadtwerke online at: www.wienerstadtwerke.at.
EXCERPTS FROM THE COMPANY’S HISTORY 1973 1984 1997
• Block power • Wien Energie • The service centre plant 1 at customer Wien Energie Donaustadt service centre Haus opened on came online in opened on the Mariahilfer 1978. Spitalgasse. Strasse.
• First wind turbine on the Donauinsel.
ANNUAL REVIEW WIEN ENERGIE RUBRIKENTITEL
Wien Energie GmbH is a wholly owned subsidiary of Production and market orientation Wiener Stadtwerke Holding AG. Fernwärme Wien was merged with Wien Energie GmbH with effect from August Wien Energie maintains a comprehensive portfolio of , which now combines all of the business areas relat- power plants that are modernised and expanded on a ing to competition in the Energy division of Wiener regular basis to ensure the reliable supply electricity, Stadtwerke. In spring , the electricity and gas net- heat and district cooling, and to ensure the greatest works were spun off to form independent companies in degree of diversification for the purposes of spreading order to meet the legal requirements to unbundle compe- risk. In addition to calorific power plants in the Vienna tition-oriented operations from network operations. In districts of Simmering and Donaustadt, there are also , Wien Energie Gasnetz GmbH and Wien Energie several hydropower plants, wind farms and photovoltaic Stromnetz GmbH were combined to form the newly installations. The power plant portfolio includes Austria’s founded Wiener Netze GmbH. The district heating primary largest forest biomass power plant, which was opened in network was also transferred to this company. Simmering eight years ago. In addition to these large- scale power plants, Wien Energie has been increasingly turning its attention to decentralised forms of produc- tion in recent years (see page ¶).
EXCERPTS FROM THE COMPANY’S HISTORY CONTINUATION 2001 2006 2010 2011
• Wien Energie subsidiary • Austria’s largest forest • New Simmering 1 ‘Wien Energie Vertrieb biomass power plant power plant GmbH & Co KG’ was opened in Simmering, (pictured right) founded. Vienna. brought online.
COMPANY PROFILE WIEN ENERGIE ANNUAL REVIEW
KEY ENERGY FIGURES AT A GLANCE Sales volume in GWh 2013 2012 +/-% Electricity 9,526.9 9,586.6 -0.6
Natural gas 7,792.3 7,802.4 -0.1
Heat 6,166.8 5,758.5 7.1
Total sales 23,486.5 23,147.5 1.5
Production volumes in GWh1) Electricity 4,059.3 4,841.3 -16.2
of which from renewable energy sources 25.0% 18.5% 6.5 PP
Heat 6,339.0 5,947.2 6.6
of which from renewable energy sources 19.3% 20.3% -1.0 PP
) Incl. share of production from investments and Pfaffenau site. See page for output data.
The proportion of energy from renewable sources increased to . percent in over the previous year’s share of µ. percent. The aim is to increase this share to percent by .
At the end of , installed electrical output amounted Around a third of Vienna’s households and large to ,¶ MW. The proportion of energy produced by customers are supplied with district heating from renewable energy sources increased to . percent Wien Energie. in over the previous year’s share of µ. percent. The aim is to increase this share to percent by . District heating is produced in thermal waste recycling In the heating sector, around À. percent of energy plants and co-generation power plants, where electricity was produced by renewable energy sources in – and heat are produced simultaneously with a fuel utilisa- the aim is to increase this share continuously as well in tion ratio of more than µ percent (details on the Vienna the coming years. Model from page ). Not only does this intelligent com- bination conserve resources, but also the environment
Wien Energie offers heating, cooling and decentralised and the climate – it reduces the level of CO emissions products such as citizen investment models directly. by around three million tonnes per year compared to Electricity and gas are sold via the subsidiary Wien conventional forms of heating. Energie Vertrieb GmbH & Co KG. EnergieAllianz Austria GmbH is tasked with the management of this business The Wien Energie subsidiary Energiecomfort is a solu- unit in which Wien Energie holds ª percent of the tions-oriented service company with a comprehensive shares and which also operates successfully abroad, product portfolio for consulting, planning, construction, primarily in Germany. EnergieAllianz looks after key and optimisation activities in the field of energy and accounts supplied with electricity while EconGas, a facility management. The focus here is on solutions joint venture in which Wien Energie has a . percent that are aimed at achieving the highest level of energy stake, looks after those supplied with gas. efficiency to the benefit of customers.
EXCERPTS FROM THE COMPANY’S HISTORY CONTINUATION 2011 2012 2013
• Restructuring • New customer service • Fernwärme Wien GmbH and separation in centre at Spittelau integrated into Wien competitive area and (pictured right) opened, Energie GmbH. grid companies. Glinzendorf wind farm opened, the first citizen solar power plant commissioned in Vienna’s Donaustadt District.
ANNUAL REVIEW WIEN ENERGIE COMPANY PROFILE
Strategic investments EconGas Founded as a joint venture between OMV Gas & power Wien Energie focuses on strategic partnerships and (%), Wien Energie (.%), EVN (.%), EBGV cooperations in order to bundle strengths and to ensure (ª.%) and Energie Burgenland AG (.¶%), EconGas both synergies and economies of scale; such partner- is responsible for direct sales and the distribution ships have been created both for procurement and sales of natural gas from its owners. Its core business is activities. providing natural gas to local distributors and customers with an annual consumption of at least , cubic EnergieAllianz Austria (EAA) metres, as well as trading natural gas on international EnergieAllianz Austria is an alliance between Wien markets. EconGas also has activities in Croatia, Energie (ª%), EVN (ª%) and Energie Burgenland AG Germany, Italy and Hungary. (%) to bundle the sale of electricity and gas. EAA is à www.econgas.at one of the leading energy distribution companies for electricity and gas in central Europe with more than Verbund . million residential households and ª, businesses Together with its parent company Wiener Stadtwerke and industrial facilities. Holding, Wien Energie owns a .µ¶ percent stake in à www.energieallianz.at Austria’s largest electricity producer, Verbund AG. This company, which is listed on the Vienna Stock Exchange, e&t Energiehandel operates the Austrian interregional high-voltage grid While the EAA acts as a sales and distribution and is capable of meeting around ª percent of domestic organisation, e&t Energiehandel is responsible for electricity demand by means of more than power trading electricity and all associated products in the plants in Austria. domestic market, as well as in Central and South-East à www.verbund.at Europe – with the same ownership structure. The company has significantly expanded its international Burgenland Holding operations over the past few years. Currently, e&t is Wien Energie holds a .À percent stake in the listed also particularly active in Germany in addition to Austria, company Burgenland Holding AG, which in turn has a and the company is permitted to trade in electricity in stake in Energie Burgenland AG, which was the result of Czech Republic, Hungary, Italy, Slovakia and Slovenia. a merger between Burgenländische Erdgasversorgung AG It also actively promotes its services in the Serbian, (BEGAS) and Burgenländische Elektrizitätswirtschaft AG Romanian, Bulgarian and Macedonian markets. (BEWAG) in . à www.eundt.at à www.burgenlandholding.at
CORPORATE GOVERNANCE WIEN ENERGIE ANNUAL REVIEW
Corporate Governance The risk and control instruments employed by Wien Energie serve to implement the company’s strategy, taking into account all statutory and Group-internal requirements. The economic, environmental and social alignment of the company should be preserved on a sustainable basis with the auditing mechanisms and bodies in place.
Wien Energie’s risk management system is Other controlling bodies based on the internationally recognised standards of COSO (Committee of Sponsoring In compliance with the Austrian Stock Corporations Act Organizations of the Treadway Commission). The company (Aktiengesetz), Wiener Stadtwerke Holding AG has an can react to unforeseen events in a quick and appropri- internal audit department. In the course of internal pro- ate way using standardised processes based on risk cesses, all divisions are audited, including subsidiaries assessment questionnaires or a risk database. Results and majority shareholdings. The Internal Audit Division from ongoing risk evaluation are regularly forward to concentrates on commercial viability, appropriacy, safety the management team. There are risk controllers in every and the correct of work processes at Wien Energie, in corporate division who check the smooth running of risk which the auditors have access to all documents and management processes. In addition to this, they monitor receipts as a result of their passive and active right to the work of the various issue-specific risk controllers be informed. Furthermore, they must be entitled to full who are employed in the areas of finance, IT, investments access to all company facilities. and personnel, thereby ensuring an effective link between the different audit bodies. Vienna’s city constitution stipulates that all companies in which the City of Vienna holds a majority stake must be Internal control system (ICS) audited by the Audit Division of the City of Vienna. They regularly inspect a whole host of corporate aspects and ICS refers to a control system aimed at monitoring and processes at Wien Energie, ranging from monitoring the controlling the efficacy and efficiency of commercial technical functionality of facilities to auditing commercial operations, the reliability of financial reporting and proceedings. compliance with the legal requirements relevant to the Group. The ICS documentation system then serves as a The Court of Audit is another external controlling body basis for ICS internal auditing activities. which is responsible for evaluating the performance of Wien Energie. In addition to the accounting audit, the use Supervisory Board of funds is also audited to ensure economy, appropriacy and commercial viability. In accordance with Art. À of the Austrian Companies Act (GmbH-Gesetz), Wien Energie has set up a supervisory Code of conduct board that fulfils its duties as defined by law and plays a key role in determining the strategic alignment of the Both Wiener Stadtwerke and its subsidiaries have a par- company. A list of its members is provided on page µ. ticular obligation to ensure a high level of service quality as well as to safeguard integrity, reliability, transparency Four ordinary and no extraordinary Supervisory Board and accountability. In order to raise awareness of these meetings were held during the financial year. obligations, the most important fundamentals relating to The General Management fulfilled its obligation to conduct were compiled to create a code of conduct. provide information as stipulated in Art. µ of the Austrian Companies Act, obtaining the statutory or legally Wiener Stadtwerke’s code of conduct serves as a required consent of the Supervisory Board in cases where guide for each and every employee in the Wiener this approval is needed or for fundamental decisions. Stadtwerke Group. It can be accessed at In addition to ongoing strategic issues, the focus in the www.wienerstadtwerke.at/Verhaltenskodex. reporting year was on preparing the way for the upstream merger of Fernwärme Wien GmbH into Wien Energie GmbH.
ANNUAL REVIEW WIEN ENERGIE BUSINESS MODELS AND MARKETS
Business Models and Markets Wien Energie must hold its own in a volatile and highly dynamic environment and further optimise every step in the value-added chain to ensure its ability to compete.
Value-added chain and supply area
Wien Energie’s value-added chain starts with the affected by the weather conditions and the increasing procurement of primary energy sources, which are used number of buildings and heating systems being in the power plants to produce electricity, heat and renovated. cooling, and ranges from managing these power plants to supplying and looking after its customers. Price trends for third-party energy purchases and for primary energy sources play a central role on the cost The distribution networks, along with the associated side. The emphasis here is on striking a balance between infrastructure, are operated by Wiener Netze GmbH long-term procurement contracts to safeguard security and Wien Energie GmbH, both of which are wholly owned of supply and exploiting price fluctuations. At the same by Wiener Stadtwerke Holding AG. The way in which time, dependency on fossil fuels needs to be reduced, production, networks and sales interact is strictly which is why Wien Energie invests in the increased use regulated by the Austrian Electricity Act (EIWOG), the of renewable energy sources (see page ). Austrian Natural Gas Act (GWG) as well as regional laws, market regulations and the general distribution network Wien Energie does not procure or sell nuclear energy, conditions. These provisions ensure that the distribution which is also demonstrated in the certificate of origin on network operator allows unrestricted access to their page À. networks for competing energy providers. Pricing trends for primary energy sources For historical reasons, the supply area of Wien Energie and electricity extends beyond the city limits of Vienna to parts of Lower Austria and Burgenland, as the map below Pricing trends on electricity procurement markets illustrates. depend on the general level of demand, supply and price for primary energy sources such as crude oil, External influences natural gas or hard coal. At the end of , the price for Brent crude oil was around eight percent lower in The business activities of Wien Energie are affected euro terms than at the same time in the prior year. by a number of external factors. Electricity sales depend The average price of gas imports in was virtually primarily on customer consumption. In the case of unchanged over the previous year. On the other hand, business and industrial customers, the development a contrasting trend was evident on electricity spot of the wider economy and, by extension, the demand markets in . Starting at around ª euro per for their own products and services, also has an megawatt hour, the price for peak-load electricity indirect impact on energy consumption. For residential plummeted to around euro in the middle of the year, customers, demand is influenced by the increased recovering very slowly in the second half of the year. use of electrical devices, particularly those relating to The price of base-load electricity also trended with a entertainment and media. The action taken in recent great deal of volatility in . In the face of volatile years to improve energy efficiency, combined with procurement and electricity market prices, Wien Energie decentralised and privately managed production strives to achieve a balance between prices for the facilities, has led to a modest downward trend in customers which are as constant as possible and electricity sales. Sales in the heating division are profitable production activities.
BUSINESS MODELS AND MARKETS WIEN ENERGIE ANNUAL REVIEW
SUPPLY AREA AND POWER PLANT SITES
Electricity/district heating
Waste treatment Greifenstein Danube power plant: Wind power Power purchasing rights Hydropower Solar power Donaustadt 3 cogeneration power plant
Photovoltaic installations 38 solar power plants in Vienna and Lower Austria, of which 16 are citizen solar power plants (see page 38 for details of the locations) Hydroelectric power plant at Nussdorf
Spittelau waste incineration plant
VIENNA Glinzendorf wind farm
Flötzersteig waste incineration plant
Simmering cogeneration power plant Donauinsel wind farm with forest biomass power plant Hydropower station Photovoltaic installation
Freudenau Danube power plant Power purchasing rights
Pfaffenau waste incineration plant Operational management
Inn power plants: 13 hydro- power plants in Bavaria Unterlaa wind farm
Hungary Waste incineration plant Lével wind farm Simmeringer Haide
Hydropower plant, PV installation Biomass power plant at Trumau Burgenland Zurndorf and Pama Gols wind farm
Opponitz hydropower station Romania 28 hydropower stations
Gaming 1 & 2 hydropower plants
South-Eastern Europe Nine hydropower plants District heating supply, Gas supply, electricity supply Gas supply, electricity supply Electricity supply Styria Steinriegel wind farm
¡ ANNUAL REVIEW WIEN ENERGIE BUSINESS MODELS AND MARKETS
The Vienna Model
Wien Energie’s thermal production plants primarily The influences shown in the diagram demand a responsi- use natural gas to generate electricity and heat. Over ble energy supply model that optimally accounts for these the last two years, this production has been reduced factors and, at the same time, lives up to customer because it was not possible to achieve a sufficient expectations as well as possible. With the so-called margin between production costs and electricity market Vienna model, Wien Energie chose a path many years ago prices. that enjoys considerable international renown. The Vienna Model represents an innovative and, by extension, As a result of purchasing electricity and primary energy environmentally friendly approach to producing electricity sources, as well as other material and services, total and heating, offering fair prices while safeguarding expenses in the financial year amounted to excellent security of supply in the interests of customers. EUR ,ª¶¶.¶ million, which represents over ¶ percent of revenues. Correspondingly high is the importance The key aspects of this model include producing of active portfolio and procurement management, which electricity and heating together in a process known as is performed by a team of experts in close consultation co-generation, harnessing energy from waste incinera- with power plant planning departments and is subject tion, using renewable energy sources and providing to ongoing improvements. comprehensive energy advice on improving efficiency. Due to the conditions currently prevailing in the market, Increasing importance of renewable energy decentralised forms of production are growing consider- sources ably in importance. As a result, Wien Energie intensified its work to set up additional citizen solar power plants in Through the Renewable Energies Directive passed in , introducing new products for residential and busi- À, the European Union intends to increase the share ness customers (see also page µ). The range of regular of total energy produced from renewable energy sources services and advisory services available to customers to to percent by . Austria has committed itself to improve energy efficiency is enlarged on a continuous achieving ª percent. The so-called feed-in model has basis (see page ª). Wien Energie aims to increase the been adopted by the majority of Member States, in which proportion of total energy produced from renewable electricity from regenerative energies can be fed into energy sources to around percent by by means the grid for a fixed price. In order to promote these of various projects (see page ). renewable energy sources, a price is normally set that is above market prices. In Austria, this additional The cogeneration technology used by Wien Energie in its expense is funded by a flat-rate renewables charge and thermal power plants increases the utilisation ratio of the renewables contribution (Ökostrompauschale and the fuels used from around percent, which is the case Ökostromförderbetrag) which must be borne by the end for electricity produced in conventional plants, to up to consumer. µ percent. However, the electricity price developments outlined above mean that this efficient production combi- The current system of subsidies leads to significant nation is being put under increased pressure. The ability distortions on European energy markets, which also to ensure the profitability of such plants also remains to presents Wien Energie with major challenges (for be seen in the light of future pricing for district heating. details, see page ª). As a result of these developments, it was necessary to take an impairment charge on Guaranteeing security of supply Wien Energie’s thermal power plants in the amount of EUR ªª.¶ million in since these cannot be Wien Energie makes an important contribution to guar- operated in a commercially viable way as long as district anteeing security of supply by comprehensively expand- heating and electricity prices remain at their current ing and diversifying its production capacities as well as levels. by pursuing a forward-looking procurement policy in respect of primary energy sources. The high level of net- work infrastructure reliability has to be ensured by the sister company Wiener Netze.
Although the importance of renewable energies has grown considerably in Austria over the past few years, not least as a result of the generous policy on subsidies, the supply of domestic energy continues to be heavily reliant on fossil fuels.
BUSINESS MODELS AND MARKETS WIEN ENERGIE ANNUAL REVIEW
Increased use of renew- Improved energy able energy sources THE efficiency (in the (wind, water, photo- VIENNA MODEL company and for voltaics, biomass) customers) The Intelligent use of cogeneration technol- ogy (combined heat and power) and waste recycling to generate electricity and dis- Waste incineration trict heating, combined with energy-related Sound advice on the to supply district services and the increased use of renewable best possible energy heating energies solutions • 21,000 energy consultations per year
• 3 million tonnes of CO saved every year High efficiency ratios • Efficiency ratio of up to 86% thanks to thanks to the use of co- cogeneration technology Decentralised energy generation technology to • Green electricity for production produce electricity and heat , people
Approximately ª percent of gross domestic consump- consumption in relation to gross domestic product by tion is attributable to crude oil, a little more than around nine percent, adjusted for temperatures. percent to natural gas and nine percent to coal. Adjustments for weather-related variations were made in The remainder comes from renewable energy sources. the calculations. However, the trend was not constant during this time. In particular, there was a rise between Given the low level of natural gas and crude oil reserves and ; since this time, however, there has been in Austria, imports of these commodities are necessary a decrease every year. in order to meet demand. According to the energy balance compiled by Statistics Austria, approximately Wien Energie makes an active contribution to continuing À percent of total gross domestic consumption was this trend, offering its customers a range of services covered by imports of oil and around µ percent by and products to improve their energy efficiency (see imports of natural gas during the calendar year. page ª). As far as its own sphere of activity is con- cerned, Wien Energie makes use of the latest technology Wien Energie purchases the required natural gas to improve efficiency ratios and, by extension, power through the joint venture EconGas based on long-term plant energy output on a continuous basis, e.g. through supply contracts and through its own structured pro- the modernisation of the Spittelau waste incineration curement policy with internationally renowned trading plant (page ) or the construction of the high-pressure partners. heat storage facility (page ).
Improving energy efficiency END ENERGY CONSUMPTION IN AUSTRIA Due to the rising dependency on energy imports which (adjusted for temperatures, real GDP) are increasingly susceptible to uncertainties, it is 1990 becoming increasingly important to make efficient use of 100 energy. Moreover, Austria is obliged to improve energy 2000 97 efficiency by percent by as part of the EU Energy Efficiency Directive. An analysis of energy con- 2005 100 sumption in Austria clearly reveals in which application areas there is the greatest potential to make savings. 2010 95 According to Statistics Austria, a third of total energy 2011 93 consumption in was attributable to transport and another third to industrial applications, including steam 2012 91 generation. The proportion for heating, air-conditioning This image shows the development of end energy consumption and hot water increased slightly in to a little over in relation to overall economic growth, with 1990 as the percent compared with the previous year. Between reference year. ÀÀ and , Austria was able to cut end energy
ANNUAL REVIEW WIEN ENERGIE REPORT: EÆMOBILITY
The Future of Mobility
Report. Running on green electricity, e-vehicles are unbeatable options for the intelligent and environmentally friendly mobility of the future. As a partner in the Model Region Vienna and Vibrate projects, both steered by Wiener Stadtwerke, Wien Energie is a key player in the promotion of e-mobility.
E-mobility is an issue of growing importance. Stricter reg- ered by electricity by the end of . This corresponds ulation from the EU regarding vehicle CO emissions is to around , vehicles. Considering the current causing the automobile industry to place a greater degree statistics, this target can be regarded as being very of emphasis on e-vehicles. In ª alone, German manu- ambitious. At the end of , there were around ª. mil- facturers will bring new models to the market. Austria lion motorised vehicles in Austria, a mere , of these has also set itself ambitious targets: According to the powered exclusively by electricity and another , electromobility initiative of the Federal Government, five vehicles equipped with hybrid engines (petrol or diesel percent of all vehicles on Austria’s roads should be pow- combined with electricity).
Wien Energie supports the setting up of a comprehensive network of e-charging stations, which represents a fundamental requirement for the breakthrough of e-mobility.
REPORT: EÆMOBILITY WIEN ENERGIE ANNUAL REVIEW
Charging stations are the key Infrastructure plays an important role in increasing the use of e-mobility; this means that a comprehensive net- work of suitable charging stations is key to the future success of this concept. Aside from the cost of acquir- ing such vehicles, another important criterion is the range of e-vehicles. However, it is only viable to set up the infrastructure if enough e-vehicles are in use. In order to lend this development a helping hand, Wien Energie, together with cooperation partners, is building numerous charging stations which are simple and easy to use, as well as being easy to reach.
There are currently charging points available in the Vienna Model region. A further ª charging points are planned by . of these will be installed in the Vienna Model region and in the model region ‘e-commuters in Lower Austria’. By comparison, Vienna currently has around ª conventional filling stations. Together with NTT DATA and Schrack, Wien Energie will oversee the largest roll-out of e-charging stations in Numerous, easy-to-access charging stations will be built Austria. by Wien Energie together with cooperation partners. There are currently charging points available in the A further incentive to increase the use of electric-pow- Vienna Model region. ered cars is the cooperation agreement reached in between Wien Energie and Renault, the carmaker with the world’s largest range of e-vehicles. Since the launch technology available for the private charging procedure, of this project, it has been easier for buyers of Renault which is installed by Wien Energie experts or partner electric-powered vehicles to charge their cars with companies. For instance, with the so-called ‘easy box’ reliable, safe and environmentally sensitive electricity. damage can be prevented, which may occur particularly Wien Energie performs a safety check in the buyer’s in the case of older buildings during the charging pro- garage and deals with the required infrastructure. cess of the e-vehicle using conventional plug sockets as a result of the heat. Easy to use To keep barriers low, it is important to ensure that the With this integrated technology, Wien Energie and com- charging stations are quick and easy to use. These petent partners ensure that Vienna participates and is conditions have been met with the Wien Energie TANKE involved in the setting of international standards in this card. This works without the need for contact thanks to complex area. In this way, environmentally friendly a built-in chip. mobility will become even more attractive. However, there is still a long way to go before Austria can meet After registering at the desired charging point, the its ambitious targets. charging process can begin; a bill is then sent every quarter. Wien Energie’s charging stations are located Vienna – Bratislava above all in and on semi-public and private premises, for The first cross-border model region for e-mobility is example in garages and on residential estates as well as being developed in the course of the pilot project on the parking areas of partner companies such as the ‘Vibrate – Vienna Bratislava e-Mobility’. Several supermarket chain Spar. For instance, an e-vehicle can Austrian and Slovakian companies are establishing the be charged to µ percent in just minutes at the infrastructure in the Twin-City Region Vienna Bratislava, Beethovenplatz car park directly in Vienna’s city centre. consisting of standardised charging stations located at public and semi-public sites so as to facilitate The integrated software makes it possible to optimally barrier-free, cross-border use. A special roaming manage the available electrical connected load and bill solution makes it possible to bill for the electricity consumption exactly. The data are tailored to the billing used across country borders (for details, see system used by the customer. There is also a suitable www.emobility-vibrate.eu).
ANNUAL REVIEW WIEN ENERGIE EUROPE’S ENERGY MARKETS
Europe’s Energy Markets in Upheaval The principles and legitimacy of global energy markets need to be reformulated in light of the current situation. The distribution of regional demand is shifting just as is where energy is coming from, and the looming climate change requires effective measures.
How is Europe positioning itself here? What are WORLDWIDE CONSUMPTION ACCORDING the challenges posed by this to the domestic TO PRIMARY ENERGY SOURCES energy industry? (in billions of tonnes) 18 Global energy consumption continues Other renewable energies Hydropower to grow 15 Nuclear energy
In their latest forecasts, international experts anticipate 12 Coal that global primary energy consumption will increase by an average of . percent every year until . While 9 a virtually constant development is forecast for OECD Natural gas countries, the demand for energy will rise dramatically 6 in emerging markets, notably in China and India, in the coming years. Even if the use of renewable energy sources 3 is growing in importance, crude oil, natural gas and coal Crude oil will remain the main sources of energy in the next few 0 decades. According to these forecasts, the conversion of 1965 2000 2035 primary energy sources to electricity will become increas- ingly important. PRIMARY ENERGY CONSUMPTION While only percent of all primary energy was converted PER REGION into electricity in the middle of the Às, this proportion (in billions of tonnes) had increased to ª percent by and is expected to 18 rise to ª percent by . Electricity consumption levels Rest of world will be responsible for more than half of the increase in 15 total primary energy consumption over the next years. At a global level, the production of electricity in coal and 12 India gas-fired power plants will occupy a central position in the production mix for the next few decades to come. 9 China These global developments are particularly explosive in 6 nature for Europe. Around half of the gross domestic energy consumption of the µ EU Member States of around 3 .¶ billion tonnes of crude oil equivalent was imported in OECD . While the import quota in Germany was over per- 0 cent, the same value for the Czech Republic amounted to 1965 2000 2035 just percent and just above percent for Poland. Source: Energy Outlook
EUROPE’S ENERGY MARKETS WIEN ENERGIE ANNUAL REVIEW
GLOBAL PRIMARY ENERGY USE FOR PRODUCING ELECTRICITY
100% Renewable energies
75% Natural gas
Nuclear energy Crude oil 50%
Coal 25%
Hydropower 0% 1965 2000 2035
Malta is most dependent on energy imports, followed by The value for was ,À petajoule, according to Luxembourg, Cyprus and Ireland. Austria has to cover Statistics Austria, which means that the target set has around ª percent of its total gross domestic energy already been met. However, additional improvements in consumption with imports. Denmark is the only net efficiency will be required for ecological and commercial exporter of energy within the EU. reasons.
An overview of EU energy policy The discussion at a European level continues to gain momentum. The following aspects are currently on the How are EU policymakers responding to this dependency agenda or were presented in : and the wider issues of energy supply? In January ¶, the European Commission proposed an energy policy for • The completion of the internal energy market by ª Europe, the aim of which was to be able to cover future • Guidelines from the European Commission for state energy needs in a sustainable, reliable and competitive intervention in the electricity sector with a focus on way. Also in January ¶, it presented the ‘Climate and the promotion of renewable energies (published in Energy Package’, which was approved by the European November ) Parliament towards the end of µ. The ultimate pur- • The publication of a draft proposal on state energy pose of these measures is to ensure that the climate and environmental subsidies in December , taking objectives set out below are achieved by : account of potential mechanisms for capacity manage- ment • An increase in the energy supplied from renewable • The presentation of a climate and energy package for energy sources to percent of total energy con- the period after in January ª with the aim of sumption cutting climate-relevant emissions by ª percent by • An increase in energy efficiency of percent compared with ÀÀ levels and to increase the
• A reduction in greenhouse gas emissions (CO and share of gross energy end consumption met by renew- others) of percent able energy sources to ¶ percent.
• The backloading of the auction of À million CO These targets have since been substantiated in several certificates in the trading period from À instead EU directives, for example in Directive /¶/EU on of between ª and in order to bolster the energy efficiency. Member States were called upon to European Emission Trading Scheme (decided in January define national targets according to their respective ª) situation and circumstances. Austria has set a target of increasing the total amount of energy produced Just how quickly and in what form the EU Member States from renewable energy sources to ª percent by . will incorporate these new objectives in their national According to the current programme of the Federal plans and programmes remains to be seen. It is also Government, energy consumption should be stabilised at questionable just how much a solo effort on the part of around , petajoule, which corresponds to the level Europe to address these global issues will lead to com- of consumption in . petitive disadvantages for European industry.
ANNUAL REVIEW WIEN ENERGIE EUROPE’S ENERGY MARKETS
Increased use of renewable energy sources, among other things. The lack of harmo- energy sources nisation at the European level, however, has resulted in market distortions that go against the objective of a EU Member States employ widely divergent subsidy mod- European internal energy market. The current system of els and concepts to support the EU-wide objective of subsidies in Austria, which is regulated by the Green increasing the share of gross end energy consumption Electricity Act (Ökostromgesetz) leads to significant to percent by . In , the energy transition costs. The tariff for electricity fed into grid is paid irre- towards renewable energy sources was given a particu- spective of the current electricity price and is based on lar boost by the nuclear power plant disaster in the costs of the respective technology used. This com- Fukushima and the resulting change of course in pensation is funded by a flat-rate renewables charge Germany’s policy on nuclear power. With an amendment and the renewables contribution (Ökostrompauschale to its phase-out law, Germany took several nuclear and Ökostromförderbetrag) which are passed on to the power plants out of service. The German Renewable end customer. Energy Act (EEG) promoted an ecological energy transi- tion in Germany, which had an effect on the mechanisms Flat-rate charges ranging between EUR and of the entire European energy market. EUR , were levied between and ª depend- ing on the respective network levels. The renewables Austria has set a target of increasing the share of gross contribution is set every year by decree and calculated end energy consumption produced from renewable as a percentage surcharge on the system utilisation fee energy sources to ª percent and is well on track here. and network loss charge. This meant an average Vienna The value for was percent according Statistics household faced costs relating to this of around EUR Austria. The greatest production increase from to in . was seen in wind turbines and photovoltaic instal- lations (+ percent), followed by hydropower with an Customers in Germany had to pay a so-called EEG fee increase of µ percent. amounting to . cent per kilowatt hour in . This meant that, compared with the previous year, the addi- Market distorted by policy on subsidies tional costs rose from EUR to around EUR µ for an average household. Including the amount paid by indus- Markets in the European Union currently have a range trial companies, the fee generates over EUR billion of different subsidies and promotion mechanisms which from which the operators of green electricity plants are aimed at supporting the increased use of renewable benefit.
ENERGY INTENSITY OF THE ECONOMY Energy efficiency Gross domestic consumption of energy divided by the GDP (oil equivalent in kg per 1,000 euro) The energy consumption of an economy depends to a large extent on its structure and general 478 degree of development. In order to be able to 500 423 414
ensure that meaningful comparisons can be 374
400 355 made, different indicators are used. Energy 299 intensity refers to the energy consumption in 300 relation to the country’s gross domestic product. 171 161 159 158 153 200 152 143 136 136 Compared to other European countries, Austria 134 129 124 has a relatively low energy intensity and has 100 been able to improve on this even more over the past few years. As a result of how this is calcu- 0 lated, this in turn means that energy efficiency in EU 28 Spain Austria Poland terms of energy productivity is high in Austria. Germany Refer to page for details of the measures and projects Wien Energie has in place or in planning Czech Republic 2001 2006 2012 Source: Eurostat to improve energy efficiency.
Energy efficiency = gross domestic product (GDP) / Energy intensity = primary energy consumption / primary energy consumption gross domestic product (GDP)
EUROPE’S ENERGY MARKETS WIEN ENERGIE ANNUAL REVIEW
In addition to these very different subsidy systems PROPORTION OF GROSS FINAL ENERGY CONµ relating to renewable energies, there are also signifi- SUMPTION FROM RENEWABLE ENERGY SOURCES cant differences in other energy issues among EU in % Member States. For instance, the subsidy for highly 35 34 31 efficient cogeneration production plants expired in 30 28 24 Austria in , whereas it continues to exist in 25 23 Germany. In the case of a cogeneration gas-fired 20 20 18 power plant in Munich with an installed electrical out- 15 15 13 13 put of µ megawatts, the subsidy amounts to around 12 12 10 1011 10 EUR million per year. A considerable amount which 10 9 8 9 8 8 6 6 7 undeniably puts a comparable plant in Vienna at a 5 competitive disadvantage. 0
EU 28 In view of these dimensions, it is not surprising that France Austria Poland Germany existing legislation in the European energy market no longer applies. Market mechanisms controlling price Czech Republic and demand have been shut down, and aspects relat- 2005 2008 2011 Target 2020 ing to security of supply and climate protection have been ignored.
Price mechanisms DEVELOPMENT OF PROFIT MARGINS FOR GAS The examples outlined above illustrate that the cur- AND COALµFIRED POWER PLANTS rent way in which prices are set in European energy in EUR/MWh markets is not based on the full and actual costs. Electricity generated from renewable energy sources 20 depends heavily on the weather and is not linked to 15 demand – particularly regarding the feed-in tariffs. It remains to be seen the extent to which innovative 10 storage technologies are suitable for bridging the gap 5 between production and demand. In any case, calorific power plants will continue to be required in the future 0 to meet the volatile demand for energy in the course -5 of a single day. It will not be possible to provide such capacity for free on a long-term basis. The profit mar- -10 gins generated by a cogeneration gas-fired power -15 plant are already negative today when producing just electricity. And even in the case of allocating heat for -20 the generation of district heating, it is not possible for this to be done in a commercially viable way. This May 13 May July 13 Oct. 13 Oct. Feb. 13 Feb. 14 Feb. Nov. 13 Nov. Jan. 13 Jan. 14 Jan. Sep. 13 Sep. Dec. 13 Dec. explains the resurgence in coal-fired power plants, 13 Aug. April 13 June 13 which has produced an ever larger share of global 13 March Coal-fired (40%) NCG gas (55%) electricity in spite of the associated negative effects on the environment. This trend has been given an additional boost in Europe by the drop in prices in CO emission certificates over the past few years.
Fact – a new market design is urgently needed reliable underlying conditions need to be created which encourage investment in the energy industry to develop In view of the distortions and challenges set out new technologies and decentralised forms of energy above, it is imperative to redesign the mechanisms for production. the European energy market. Fundamental reforms and a harmonisation of subsidy policies across Europe are You can find out how Wien Energie is responding to the needed to promote renewable energy sources as current challenges in the Strategy section (page µ) and desired in the electricity sector. At the same time, in the interview with the General Managers (page ).
ANNUAL REVIEW WIEN ENERGIE CORPORATE STRATEGY
Corporate strategy Wien Energie is actively facing the current overall and energy-related challenges with an ambitious strategy.
After taking stock of the current and future riding objective is to defend the company’s share of the underlying conditions expected for the com- markets in the Greater Vienna metropolitan area. ing years, Wien Energie conducted an in-depth analysis of its corporate strategy in . The issues and targets Increased use of renewable energy sources derived from this were combined to define key priorities, which are set out below. For more information on the In order to achieve its objective of increasing the pro- corporate strategy, please refer to the interview with portion of energy from renewable sources used in the General Managers from page . energy production from percent today to percent by , Wien Energie is taking a number of different Customer proximity approaches. In addition to constructing more wind farms in Austria, the focus is squarely on hydropower In addition to an attractive and transparent pricing and photovoltaic installations (see page µ) The policy, particular importance is attached to providing Regenerative and Decentralised Production department extremely competent advice and focussing on service was created to house all related projects and tasks in order to preserve and improve customer satisfaction under one roof. In the area of decentralised production, in the future. Consequently, not only is Wien Energie innovative product packages were created which will be continually expanding its online services, but it also pushed to a greater extent as of ª (see page ¶). continues to set store by serving its customers on an individual basis relying on experienced Wien Energie Overall, these and other measures should make it pos- employees. In order to better address the varying cus- sible to maintain the current amount energy produced tomer requirements, they are divided into clear defined for its own requirements at ª percent in the case of groups, which reduces communication problems. The electricity. However, the structure of production will be measures relating to the training and further education diversified further in the coming years, whereby the of employees will be continued in order to safeguard focus will be on renewable energy sources and decen- know-how despite the necessary cost savings. The over- tralised forms of production.
STRATEGIC Sustainability Safeguarding value Customer proximity CORPORATE for the company for the owners TARGETS AT A GLANCE Adjacent you can see the key strategic Continuous improvement in Increased use of renewable Maintaining our priorities of customer orientation energy sources ability to compete Wien Energie
Maintain the volume of Increase the use of renewable energy produced for own needs energies in the production of electricity to around Boost profitability with greater diversification 50 percent by 2030
Increase the use of Leading position for Defend market shares renewable energies in the decentralised production production of heat facilities
CORPORATE STRATEGY WIEN ENERGIE ANNUAL REVIEW
Despite difficult conditions in the energy market, Wien Energie invests in safeguarding security of supply such as by means of building a high- pressure heat storage facility.
Expanding local and district heating Boosting profitability as well as district cooling The measures to increase operating efficiency will con- Wien Energie is actively exploiting the growth opportu- tinue to be implemented across the whole company in nities arising from urban development and the expansion the next few years. The integration of Wien Energie of the existing network. In general, the heating market Fernwärme is of particular importance here in order to will however experience a downturn due to the increas- make use of all the available synergies and potential ing number of buildings undergoing thermal renovation. cost savings. The economic viability programme Therefore, this makes it all the more important to attract launched last year to rein in debt is being continued and new customers and to develop new commercial fields expanded. The primary objective remains to achieve a such as district cooling. In the coming years, the focus level of profitability that enables the capital employed to of investment activities will also be on the modernisation benefit from attractive minimum interest rates and that and renovation of production facilities and the addition provides financial leeway to make investments that spur of decentralised forms of production with a focus on growth and create value. In doing so, it is of particular solar energy, geothermal energy and local heating. importance in times of economic instability to ensure a
¡ ANNUAL REVIEW WIEN ENERGIE CORPORATE STRATEGY
pricing policy that strikes a balance between competi- agement, the central aspects of sustainability are an tiveness, commercial viability and fairness towards the integral part of Wien Energie’s strategy. Furthermore, a customer. detailed sustainability programme is carried out in con- sultation with the parent company Wiener Stadtwerke Sustainably-minded company policy Holding AG, which is pursued every year.
Due to the area of business the company operates in and This programme is published at: a clear commitment to future and values-oriented man- www.nachhaltigkeit.wienerstadtwerke.at
In addition to promoting art, culture and sport, Wien Energie’s commitment to social responsibility also includes events and informa- tion to raise awareness on how to conserve energy.
Social commitment Energy that moves Energy that enriches Wien Energie’s approach to Wien Energie pursues two objectives Supporting art and culture has a very spe- sustainability is based on a when promoting sport: On the one cial place at Wien Energie. The company has well-developed awareness of its hand, it supports large, individual given its support to many events over the corporate social responsibility. projects and organisations such as years. The most famous of these include By way of example, Wien Energie the Vienna City Marathon, the Wien Vienna’s Donauinselfest (an annual music believes it is important to teach Energie Business Run and its cooper- festival), the Wiener Eistraum (ice skating), children how to use energy re- ation with the SK Rapid Wien football the Kriminacht (Crime Night), the Jazz Fest sponsibly through events, school club, in order to reach a large number Wien, eine STADT. Ein BUCH (one city, one projects and the children’s mag- of people. In addition, numerous book) or the Viennale (Vienna Film Festival). azine ‘Energie Express’. Young smaller sports clubs and initiatives The exhibition series ‘Hot and Cold’ (Heiß adults in the ‘Power Generation’ are also individually supported. In its und Kalt), which has been organised since programme are given access to work to promote youth participation 1997 and has had a new home in the Spit- events, activities and services programmes, Wien Energie’s sports telau customer service centre since 2012, on issues such as innovation, weeks (Sportwochen) are an annual is also very popular. Both young talent and activity and environmental highlight with numerous sporting internationally renowned artists help to awareness. events and prize draws. provide a varied programme.
REPORT: DISTRICT COOLING WIEN ENERGIE ANNUAL REVIEW
Energy – keeping cool and on track: Vienna’s new Main Railway Station (image of the station concourse) District Cooling Wien Energie is promoting the use of district cooling and, in doing so, is making an important contribution to the environmentally friendly development of air-conditioning in buildings.
Cooling buildings, particularly during the hot air conditioning, district cooling requires much less
summer months, is a challenge that is often primary energy and cuts CO emissions by more than linked with very high costs in the case of ¶ percent – advantages that are winning over more conventional solutions. According to current estimates, and more customers. the demand for air conditioning in offices in Austria will match today’s demand for heating in just years. Vienna is one the leading cities in the world when it Innovative solutions are called for. Wien Energie comes to the supply of district cooling. Wien Energie identified this market opportunity several years ago, has been investing in setting up and expanding the dis- introducing to the market an environmentally friendly trict cooling network since . The first refrigeration and convenient way of cooling buildings by means of control centre was taken into service in À at the district cooling. Compared with conventional forms of Spittelau waste incineration plant. Since this time, a
ANNUAL REVIEW WIEN ENERGIE REPORT: DISTRICT COOLING
6,000
5,000
4,000
CARBON 3,000 74% FOOTPRINT OF Savings DISTRICT COOLING 2,000
Annual CO2 emissions for cooling from a district cooling centre 1,000 compared with conven-
Conventional cold air production (data in t) District cooling tional facilities. 0 (calculated pursuant to the European norm EN -ª-) number of refrigeration control centres have been suc- they are grouped together in the cooling centre and cessfully brought online around Vienna, the most recent make use of cutting-edge technology. The third method one at Schottenring in spring . The total installed used in the district cooling centres is free cooling. output currently amounts to megawatts. This corre- sponds to the cooling power of more than ª, con- This means that, in winter, cooling is provided directly ventional refrigerators. The existing district cooling using water from the river Danube or from the cold air network will be expanded further in the coming years. outside. In all three versions, the coolant is transported to the buildings of the customers via insulated pipelines Wien Energie pursues two objectives with the supply of and fed into their air conditioning systems. In the pro- district cooling. In the case of decentralised solutions, cess of cooling a building, the temperature of the water refrigeration centres with absorption refrigeration used reaches as high as ¶ degrees before being fed back to the refrigeration control centre, where it is In comparison with conventional cooled to six or seven degrees again and fed back into the district cooling network. This creates a closed circuit air conditioning for buildings, between the district cooling centre and the customers. district cooling cuts CO emissions Vienna Main Railway Station by up to ¶ª percent. The district cooling project for the Main Railway Station is currently the most important Wien Energie project in machines are installed the customer’s building and this business segment. A refrigeration control centre is powered by energy from the district heating network. being built under the tracks, which to begin with will These solutions are offered in regions where there is have a cold air output of megawatts. This means it no district cooling network available or planned in the will be able to cool a building area of around ª, m² foreseeable future. In the second concept, cooling is via a district cooling network. Customers that have supplied from a refrigeration control centre via a district already signed on include Erste Campus, ÖBB (traffic cooling network directly to the customer’s building. station and group headquarters), the Sonnwendcenter Wien Energie currently operates refrigeration control and Hotel Five; these customers will use ¶ of the centres at Spittelau, Schottenring, the Rudolfstiftung installed megawatts. Using waste heat to power the sys- and SMZ Ost hospitals. tem, district cooling from Wien Energie is particularly
environmentally friendly and generates much lower CO Efficient use of energy emissions than conventional air conditioning units.
Cold air is generated in Wien Energie’s district cooling In addition to very efficient electrical refrigeration units, centres described above in three ways: Some of the cold absorption cooling machines are also used which air is produced via absorption machines, which are pow- harness heat produced from waste incineration. Cooling ered by waste heat. The heat produced from waste incin- towers are being built in the adjacent Schweizergarten eration or thermal electricity production is transported for the purpose of re-cooling. Customers are supplied via the district heating network to the absorbers and is via a district cooling network. The first deliveries then converted into cold air. Compression refrigeration took place in April ª. Over the past few years, machines produce a share of the cold air and are pow- Wien Energie has been already been able to install ered by electricity. These are much more efficient that a number of district cooling units; a few examples are smaller, decentralised building refrigeration systems as presented on the next page.
REPORT: DISTRICT COOLING WIEN ENERGIE ANNUAL REVIEW
OTHER WIEN ENERGIE DISTRICT COOLING UNITS
Refrigeration units in use
Renngasse – Signa to a total length of 2.4 kilometres, to customers in the nearby In 2013, a refrigeration centre with an installed output of six office, hotel and university buildings. The investment costs for megawatts was built in Vienna’s 1st District to supply cooling the Schottenring district cooling centre amounted to around to several buildings in the area near Tuchlauben, Am Hof and EUR 15 million. Renngasse. Rudolfstiftung and Juchgasse project SMZ Ost hospital The district cooling centres were taken into service at the end Since June 2010, the SMZ Ost hospital in Vienna’s 22nd District of 2012 and, following a two-step expansion phase, will have a has been supplied with district cooling from a decentralised dis- total cooling output of 7.6 megawatts by 2018. The Juchgasse trict cooling centre. It current has an installed cooling output of 22 project is currently under construction and is planned to sup- four megawatts and this is set to be increased to six megawatts. ply cooling from the middle of 2014. In the case of this project, the heat pumps will enable a dual function: On the one hand, a TownTown data processing centre will be cooled and, at the same time, the The office buildings at TownTown in Vienna’s 3rd District are heat pumps will serve to heat the medical area of the Juchgasse heated and cooled using district heating and district cooling. 22 project. A dedicated refrigeration control centre has been providing air conditioning to the buildings since 2006. In the first phase of Vienna North Hospital development, 5.3 megawatts of cooling output and one megawatt The Vienna North Hospital (Krankenhaus Nord), which is cur- of free cooling were installed. rently under construction in Floridsdorf, is due to open in 2014 and will be one of the largest and most modern hospitals in Schwarzenbergplatz Europe. As part of this innovative concept, air conditioning will A decentralised refrigeration control centre with an output of be provided via district cooling using the absorption process; 1.2 megawatts has been in operation at Vienna’s Schwarzen- the plan is to have a cooling output of 10 megawatts. bergplatz since 2007; 0.8 megawatts of its output is generated from an absorption refrigeration machine and 0.4 megawatts MGC - Fashion wholesale centre from an electrical refrigeration machine. Vienna’s 3rd district is home to a very special kind of refrigera - tion centre with a cooling output of 2.7 megawatts. Heat from Schottenring district cooling centre the re-cooling of the refrigeration unit can be stored using a The Schottenring district cooling centre was officially taken into groundwater lake in the summer. During the winter, the refrigera- service in April 2013 and is designed to generate a total output tion machines are operated in heat pump mode, using the stored of 15 megawatts, whereby all three production forms are used heat to provide heating to the building. At the same time, the (see description above). The cold air produced is transported groundwater lake is cooled again and available during the sum- along a network of pipes, which will be successively extended mer to store cooling.
A look inside the inner technical workings of a district cooling centre.
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Offensive to Improve Energy Efficiency
Wien Energie supports its customers with a range of services and information to improve their energy balance.
According to calculations by Statistics Austria, end energy consumption in Austria can be roughly broken down into three con- sumption groups: almost one third of total consumption in , amounting to . petajoule, was attributable to transportation; a further third to industry and business; energy efficiency package, which is currently being and the remaining third to indoor heating, air-condition- prepared, consists of a range of individual pieces of ing units, hot water, lighting and IT. This distribution legislation. It is based on the Directive /¶/EU of also reveals where there is greatest potential to save the European Union, which aims to cut primary energy energy: intelligent solutions to improve energy efficiency consumption across Europe by percent compared among businesses and private households, as well as with forecasts by . The obligations affect each innovative mobility concepts. Wien Energie is involved in and every participant in the energy market, from the all of the associated measures and initiatives. energy producer to the energy supplier and the end consumer. For instance, plans include making savings Energy efficiency package in Austria in the national system of obligations, introducing regulations for energy suppliers and companies, and Making more efficient use of energy is not only the order carrying out information campaigns for consumers. of the day from an environmental and economic stand- An important part of the preliminary draft includes point; it is also becoming a legal obligation. The Austrian numerous demands for energy-efficient measures.
RUBRIKENTITEL WIEN ENERGIE ANNUAL REVIEW
Wien Energie improves its own energy efficiency by building a high-pressure heat storage facility.
Energy efficiency offensive A number of goals are being pursued with the energy Wien Energie began decades ago to raise awareness efficiency offensive. On the one hand, the aim is to among customers of the need to use energy conserva- provide customers with financial support to purchase tively by means of offering competent advice and a modern, more energy-efficient electrical appliances. comprehensive range of services (see also page ª). The purchase of energy-saving electrical appliances, This commitment was expanded within EnergieAllianz the replacement of gas-fired condensing boilers and a Austria in autumn . As a regional sales company, photovoltaic or solar power installation, or the fitting of Wien Energie Vertrieb has invested seven million euro energy-efficient windows is subsidised with a voucher. of the EUR million paid into the energy efficiency Calculating an energy pass at the Wien Energie Haus is subsidy fund of Energie Allianz Austria. The subsidy rewarded with a voucher worth EUR . fund has been available to Wien Energie Vertrieb customers since October and will continue to be For more information about efficiency so until it has been fully utilised or until September measures and their advantages, go to ª at the latest. www.wienenergie.at.
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Increased Use of Renewable Energy Sources Wien Energie has set itself the objective of increasing the proportion of energy from renewable sources used in energy production to percent by . The proportion used in heat production should also be increased.
In the financial year, percent of total Modernisation of the Opponitz electricity production came from renewable hydropower plant sources, primarily hydropower plants and wind turbines, as well as photovoltaic installations and bio- The Wien Energie hydropower plant at Opponitz, which mass facilities. The reference rate for heat production has been supplying more than , households with is À. percent. hydroelectric power for around À years, will be modern- ised in the coming years. The machinery was upgraded in Over the past few years, the production capacity for the middle of the ÀÀs already: The turbines and gen- electricity from renewable sources has been succes- erators were replaced and annual production increased sively increased; since ¶ it has almost doubled to by more than percent to approximately gigawatt around megawatts. In the financial year, the hours. In the current project, a fish ladder will be built focus was on setting up more citizen solar power plants and the weir in Göstling renovated to increase the level (for details, see page µ) and on optimising and expand- of water remaining in the river Ybbs as well as to improve ing existing facilities. In addition to this, other projects flood protection. Work on building the weir began in concentrating on wind, hydro and solar power in Austria spring . The renovation work relating to the head- are evaluated and developed on an ongoing basis. race tunnel in Opponitz, which will also improve the effi-
RENEWABLE ENERGY SOURCES WIEN ENERGIE ANNUAL REVIEW
ciency of electricity production, is planned for ¶ at ity is a fee to lease the facility. This means that the the earliest. customer does not incur any set-up costs. In this way, Wien Energie supports decentralised production This project, representing an investment of around facilities directly at the point of consumption. million euro, will be accompanied by a team of expert scientists from the Institute of Hydrobiology and Aquatic In the “SolarKraft FreiRaum” option, Wien Energie plans Ecosystem Management at the University of Natural and installs the photovoltaic panels on the roof or a plot Resources and Life Sciences. The ecological improve- of land leased by the customer. Green electricity is then ments outlined above are in line with the provisions of fed into the Wiener Netze network. the EU’s Water Framework Directive. In addition to this, Wien Energie aims to increase its production capacity Sustainable Energy Concept from renewable energy sources with this ambitious Trumau Local Community project. The market town of Trumau, Lower Austria, has set itself Decentralised energy production – ambitious objectives in respect of its energy supply and new products has found in Wien Energie a competent partner who pro- vides support in the implementation of the projects Decentralised energy production facilities play an required here. In the medium term, Trumau intends to increasingly important role for a forward-looking energy produce almost twice as much energy from renewable supply policy. Local energy production facilities close to sources than the municipality and its inhabitants actu- the place of consumption are of particular interest to ally need. customers with a high energy consumption. Wien Energie makes a key contribution here with innovative products To this end, four photovoltaic facilities were installed in and solutions. In addition to the SolarKraft solutions, the local community in April . An additional installa- decentralised and renewable product combinations were tion was set up by Wien Energie as part of a citizen par- developed in and presented in spring ª. ticipation model, which uses its , panels to produce electricity for households. Carrying the name “Green heat – solar heat or geother- mal energy”, new, sustainable and decentralised energy Wien Energie has been operating a small-scale hydro- products will be offered to complement district heating. power plant in Trumau since ÀÀ; this serves around In the case of “solar heat”, heat is generated locally households and will be modernised in ª. In addi- through the combined use of solar energy and natural tion to this, the local district heating network, which is gas. In the case of “geothermal energy”, the benefits of supplied by a biomass plant, will be enlarged, ensuring photovoltaic technology to generate electricity are com- the supply of environmentally friendly heating to approx- bined with those of heat pumps to produce indoor heat- imately households. Furthermore, the first charging ing, cooling and hot water. In both cases, customers station for e-vehicles was taken into service in Trumau benefit from low investment costs, short construction by Wien Energie in April . In short, the market town times, as well as an efficient and environmentally of Trumau is well on its way to becoming a model commu- friendly source of energy. nity in terms of energy production
SolarKraft Wind power
With this umbrella brand, Wien Energie has developed a With a view to enlarging its wind power portfolio, Wien range of photovoltaic products that are aimed primarily Energie pressed ahead with the development of a range at companies and local communities. For instance, of wind farm projects in . In addition to enlarging “SolarKraft Einfach Nutzen” enables customers to have existing wind farms, new projects are also being evalu- their own photovoltaic installation on their premises to ated and developed at a fast pace. In short, a number of generate electricity. Wien Energie takes care of the sites in the sphere of influence of Wien Energie were planning, installation and running of the photovoltaic secured on which wind farm projects are set to be imple- installation. All the customer has to pay for the electric- mented from ª onwards.
ANNUAL REVIEW WIEN ENERGIE CITIZEN SOLAR POWER PLANTS
Harnessing the Power of the Sun
Report. With its citizen solar power plants, Wien Energie enables the population to get actively involved in efforts to increase the use of renewable energy sources. Numerous projects have already been realised and additional ones will follow in the coming years.
In just three hours, the sun provides Earth with enough A photovoltaic panel has a size of between . and energy to meet the entire global demand for energy for a m. This translates into almost limitless potential whole year. The majority of this energy goes unused. which Wien Energie has been working to make increased use of with the involvement of the popula- Wien Energie set itself the objective many years ago of tion since . doing what it can to change this within its area of opera- tions. Since this time, µ solar power plants have been The model is simple: Wien Energie builds and oper- built, of these as citizen solar power plants. By way of ates these turn-key photovoltaic plants, and there- example, a facility with an installed output of .µ kWp was build on the south-facing side of the Simmering power plant; two years previously, photovoltaic modules WIEN ENERGIE CITIZEN SOLAR POWER PLANTS IN VIENNA AND LOWER AUSTRIA with kWp were integrated into a noise protection wall on Margaretengürtel in Vienna.
Wien Energie citizen solar power plants Following these and other early projects, an innovative model in the form of citizen solar power plants was developed, the aim of which was to accelerate the pace at which renewable energies are used. This strategy is based on the opinion of experts, who suggested that more than half of all the roofs in Vienna would be suit- able for photovoltaic modules. This puts the potential installation area at approximately À million m.
Over the past two years, Wien Energie has built a total of citizen solar power plants with an in- stalled output of MWp. For details of individual projects, please visit the website www.buergersolarkraftwerk.at.
As a result of the enormous success, there are plans for additional projects in and around Vienna in the coming years. By the same token, the investment model is being continually developed, as the following example shows on page ª.
CITIZEN SOLAR POWER PLANTS WIEN ENERGIE ANNUAL REVIEW
WIEN ENERGIE CITIZEN SOLAR POWER PLANTS ,ªª photovoltaic panels were installed IN VIENNA AND LOWER AUSTRIA on the roof of the new train station and shopping centre at Wien Mitte and taken into service in December .
fore also bears the associated commercial risks. Lower Austria, which was commissioned in summer , Interested people in Vienna can purchase panels for the citizen solar power plant at Wien Mitte was the À euro. Wien Energie rents the panels owned by the highlight of . Since coming online at the beginning citizens and pays a rent which corresponds to a fixed of December , ,ªª photovoltaic panels with an annual compensation of the respective investment in the installed output of around kWp have been producing amount of . percent. The owners can sell their panels green electricity on the roof of the new train station and back to Wien Energie at any time at the full purchase shopping centre for around households. It is the larg- price. The initial investment is also repaid to investors at est inner city photovoltaic installation in Vienna, and it the end of the useful life of the plant. demonstrates how even in a built-up area, idle roof space can be used efficiently and in a commercially viable way. , panels provide electricity for , households Over the past two years, Wien Energie has built a total of The participation of Vienna’s population in the citizen citizen solar power plants with a total installed output solar power plants was immense from the outset. During of MWp. For details of individual projects, please visit the first project phase, µ, panels in four photovoltaic the website www.buergersolarkraftwerk.at. installations were progressively made available for sale and which were sold out in a very short space of time. The As a result of the enormous success, there are plans for first installation was built in on industrial land on additional projects in and around Vienna in the coming the premises of the Donaustadt power plant, and one on years. By the same token, the investment model is being the grounds of the gas storage facility in Leopoldau. In continually developed, as the example on page ª demon- addition to a facility in the market town of Perchtoldsdorf, strates.
¡ ANNUAL REVIEW WIEN ENERGIE CITIZEN SOLAR POWER PLANTS
HOW DO PHOTOVOLTAIC SYSTEMS WORK?
Photovoltaics refers to the direct conversion of light energy, primarily solar energy, into electrical energy.
The term is derived from the Greek word for light, phos, ducting semiconductor) in the semiconductor material. and volt, the unit of electrical voltage. Photovoltaics When these differently charged layers are put on top is a sub-area of solar technology which encompasses of each other, this produces an internal electrical field other forms of harnessing solar energy, such as solar which leads to a separation of charges of the positive power for hot water and indoor heating. and negative charge carriers released when exposed to light. This electrical voltage can be exploited and Solar cells are the lifeblood of a photovoltaic instal- used via metal contacts. An anti-reflective layer on lation, consisting of several layers of semi-conductive the cells serves to reduce reflection losses on the material. Semiconductors are materials that become surface of the cell. more electrically conductive when exposed to light or heat, and are non-conductive at low temperatures. In order to be able to provide the voltage and output required for the different areas of application, indi- The most widely used semiconductor is silicon, an ele- vidual solar cells are turned into larger modules by ment that is available in sufficient quantities and which connecting them using an aluminium or stainless steel can be processed in an environmentally friendly way. frame, and covered with glass on the front-facing side. When manufacturing cells, the semiconductor is given The typical nominal output of solar models ranges a negative or a positive charge, which means that between just a few watts and a peak load of watts, chemical elements such as boron (positive) or phos- depending on the area of application. Peak refers to phorus (negative) are added. This produces either a the maximum output what can be generated under positive excess charge carrier (p-conducting semi- standard test conditions of , watts per m of solar conductor) or a negative excess charge carrier (n-con- ray exposure and a cell temperature of °C.
DESIGN AND FUNCTION OF A SOLAR CELL
Solar cell thickness: approx. . mm
n-semiconductor thickness: approx. . mm
Contact finger
Anti-reflective layer
n-semiconductor layer
Consumer
Rear-side metal contact p-n transition
p-semiconductor
CITIZEN SOLAR POWER PLANTS WIEN ENERGIE ANNUAL REVIEW
SPAR Customer Solar Power Plant Building on the success of the citizen solar power plants model, Wien Energie has developed an investment model in cooperation with SPAR which brings advantages to everyone involved.
Wien Energie’s successful citizen the form of SPAR vouchers, which will be issued solar power plants model was turned over a period of years and amount to EUR into a tailored concept in for and every year. At the end of this period, the remain- in cooperation with the local supermarket chain ing amount of EUR ª will be paid out either in SPAR. In the first step, two photovoltaic installa- cash or in the form of additional vouchers. tions, with a total installed output of ¶ kWp, were built to supply electricity to two SPAR By means of this innovative project, SPAR and supermarkets in Vienna; they were taken into Wien Energie have made it possible for numerous service in autumn . Since this time, they private individuals to actively participate in have been supplying around a quarter of the increasing the use of renewable energy sources. total electricity needs of the two stores. Wien Energie operates the solar power installa- tions as a reliable partner and implements the SPAR customers were invited to participate in investment model for SPAR’s customers. In this these projects. They were able to purchase way, Wien Energie both helps its own customers voucher packages worth EUR À each, which such as SPAR to develop a sustainable supply were used to finance the photovoltaic panels. of energy and provides added value for its This investment accrues interest and is repaid in customers.
Competent advice comes up trumps – Wien Energie provides its customers with support in all matters relating to modern and forward-looking energy supplies.
COMPETENT ADVICE WIEN ENERGIE ANNUAL REVIEW
Competent Partner for all Energy-Related
As the country’s largest energy service Matters provider, Wien Energie has for decades been concentrating on much more than Wien Energie has positioned itself as merely supplying electricity, gas or heating. As a a reliable and competent partner in a pioneer in the domestic market, a centrally located point of contact for all energy-related matters was highly competitive environment. This created in Àµ in the form of the Wien Energie is reflected in its range of different Haus. Since this time, over , face-to-face or tariff models and products, as well telephone consultations are held every year. In addition to this, competent Wien Energie employees as in its diverse range of advisory are on hand at the five customer service centres to and information services. provide advice in all energy-related matters, and the range of services available online is also being continuously expanded. The company also communi- cates regularly with its customers through the mag- azine ‘ª Stunden Energie!’, which is sent out six times a year and was revamped in . Business customers receive the magazine ‘Energie!’ four times a year, which provides information about com- pany-relevant aspects of the energy industry.
New customer service centre at Spittelau
Wien Energie has set new standards of quality, service and advisory services with its new customer service centre at Spittelau. It was opened in after a construction period of just under one year, and this new point of contact for customers has been fully operational since the beginning of . With m of floor space, Wien Energie has cre- ated a modern information centre which offers energy advice on electricity, gas and district heat- ing. The building has been designed to be well lit and spacious, providing a total of µ consultancy areas in the form of isolated islands which guaran- All of Wien Energie’s customers receive the newly designed “ª Stunden tee the necessary degree of privacy during cus- Energie!” magazine six times a year. tomer consultations.
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The new customer service centre at Spittelau has already been enjoying a great deal of popularity since its opening.
Energy efficiency was also assigned priority during In addition, Wien Energie also uses these channels to deliver the construction of the building. The photovoltaic important energy-related advice and information to its panels installed on the roof meet a part of the build- customers. This means that social media are also used as a ing’s electricity needs. Exceptionally high levels of service tool as well as being an instrument for feedback and energy efficiency were also achieved in the areas of communication. Wien Energie and the ‘Power Generation’ heat and cold insulation as well as sound proofing and initiative targeting young customers already have more than solar protection. Thanks to these efforts, the cus- ª, fans on Facebook. More than , people follow tomer service centre at Spittelau also sets a shining Wien Energie’s posts on Twitter. These instruments help example for energy efficient construction in Vienna. ensure prompt and dynamic communication with the respective stakeholders. Online customer service Different tariff models for residential customers In addition to the range of individual advisory services provided at the Wien Energie Haus and at our A high degree of customer orientation is also reflected in the customer service centres, Wien Energie customers products on offer, which take account of various needs of can also access such advisory services online. For different customers. Existing tariff models are amended and instance, all you need to do is register for online services at www.wienenergie.at to select or change your tariff. What’s more, the two tariffs Strom Optima EasyHome Control Online and Erdgas Optima Online make it possible to manage everything online – such as reporting meter In order to help its customers in their levels, registering and cancelling accounts and efforts to improve energy efficiency, in e-billing. Wien Energie added ‘EasyHome Control’ to its portfolio of services, It is also possible to calculate your individual energy among others. This enables users to consumption and any potential energy savings that control room temperatures or electrical can be made using the website www.energiesparcheck. appliances via the internet or using at. With www.energieleben.at, Wien Energie has cre- their smartphone, with a view to cutting energy consumption. ated an information platform which enables customers The starter package on offer includes the so-called cube, to perform assessments and receive advice from the which is the centrepiece of the system, combining the various comfort of their own homes. The website also provides components with the control function. In addition to this, radi- comprehensive information about public subsidies, ator thermostats are included to regulate indoor temperatures energy-saving tips and renewable energies. individually, as well as a window contact, which triggers a reduction in the heating temperature when a window is opened. Social Media With the Eco button, which is also part of this starter pack, all As an innovative company, Wien Energie has been of the radiator thermostats included in the system can be using social media channels in its PR and information turned down with a simple click. It is possible to control all of work for years. Customers and interested parties are this from where ever you are via the internet. This package can informed about issues relating to energy, sport, cul- be expanded to include additional components such as an ture, e-mobility or about current campaign issues via adapter to control electrical appliances. You can find details of Facebook, Twitter, company blogs and YouTube. this offer and other information on Wien Energie’s website.
COMPETENT ADVICE WIEN ENERGIE ANNUAL REVIEW
OVERVIEW OF OPTIMA ELECTRICITY TARIFFS Example for Vienna) Float Online Float Cap Garant OPTIMA The flexible The internet Flexible The fixed Standard tariff tariff and secure price tariff Consumption price (cent/kWh) 6.0463 8.7799 6.6519 8.1626 9.3778
Base price (EUR/year) 38.16 13.35 38.16 34.34 15.26
Minimum term 12 months 12 months 12 months 12 months -
Price stability/interval of price adjustment monthly varies monthly with a cap 24 months varies
) Tariffs valid as of ..ª. All of the prices given relate solely to the energy price including a % consumption fee for Vienna and % VAT. They do not include the system fee, taxes or charges.
improved on an ongoing basis as a result of the find- In contrast, OPTIMA Garant is the right choice for cus- ings from consultations with customers and the cus- tomers looking for long-term planning security who do tomer advisory board. By way of example, the OPTIMA not want to be at the mercy of market price fluctuations. Float electricity tariff was introduced in . The OPTIMA Float Cap has the advantages of the tariffs men- table above, for instance, shows the wide range of tioned before – it is also based on the development of electricity tariffs available to private customers. the Austrian Electricity Price Index (ÖSPI) – but at the same time the price of electricity is capped. Wien Energie’s standard tariff is OPTIMA – both for natural gas and electricity. There are other tariffs Environmentally-minded customers can also benefit available depending on the individual needs of the cus- directly from Wien Energie’s range of ‘green’ offers. For tomer. OPTIMA Float has been developed for customers instance, owners of photovoltaic installations are able who want to have a particularly transparent view of to sell any electricity they produce which exceeds their pricing trends and the performance of electricity mar- own consumption levels to Wien Energie at an attractive kets. This flexible tariff, which is based on the Austrian feed-in tariff. Electricity Price Index (ÖSPI), is calculated on a monthly basis and reflects market price trends.
A reliable partner for business customers
Energy needs also vary according to the size, industry and structure of a company. As a result, Wien Energie has developed specialised tariffs for different customer groups in the business customer segment. There are different tariffs for small and medium-sized companies, large customers, local authorities and agricultural customers. Particular consideration is shown to changes in the company’s energy needs in the course of a day or a year. In addition to this, Wien Energie helps to make use of intra-company energy sources – for instance industrial waste heat. As is the case in the residential customer segment, the business customer segment also has a number of Float models which enable tariffs to be index-linked or fixed.
Wien Energie also actively helps companies cut their Wien Energie receives part of the actual savings made energy consumption on a lasting basis. Facilities are as a fee for these services. This means that compa- subjected to an in-depth energy-efficiency analysis to nies are not faced with cost risks; they generally ben- ascertain their specific energy consumption. Building efit from savings ranging between and percent on this, Wien Energie experts develop a comprehen- of their previous energy costs. See page ªµ for an sive package of measures to optimise the facilities. impressive example of this.
ANNUAL REVIEW WIEN ENERGIE SOCIAL RESPONSIBILITY
Social Responsibility Embodied The core operating business of Wien Energie consists of ensuring the reliable supply of electricity, gas, heat and all of the associated services. But what happens if customers are no longer able to afford the energy and they fall behind with their payments?
Energy poverty is the key word and this is an issue which is receiving an increasing amount of attention in the public domain, particularly during the cold winter months. Wien Energie wants to help here and make good on its commitment to social responsibility which is being talked about so much. Not forgetting, however, that it ultimately comes down to commercial interests that can only be met through intact customer relationships.
Wien Energie social ombudsman office
“The aim of our work is to ensure the supply of energy to people in precarious living conditions,” explains Angela Vaverka, the head of Wien Energie’s social ombudsman office which was set up in February . As a result of her many years of work at Caritas, where the qualified social worker last worked preventing evictions, Ms Vaverka is well versed in such situations. “People suffering from energy poverty are often confronted with a whole host of challenges. Long-term unemployment or Angela Vaverka and her team work at Wien Energie’s social psychological problems often prevent them from leading ombudsman’s office to safeguard the supply of energy to people in precarious situations. a normal life. Energy poverty is just a result of this,” says Ms Vaverka, explaining the reasons for these cases of hardship. In view of these complex living circum- four colleagues, Ms Vaverka maintains this network for stances, all-round solutions are needed to be able to the benefit of the customers concerned. provide long-term help. Wien Energie is not able to pro- vide these solutions by itself and therefore cooperates “We are work together on a solution that is based on very closely with social institutions in Vienna such as individual means and which the customer can therefore Municipal Department ª, Caritas or Volkshilfe. With her maintain. The majority of people affected want to make an active contribution, either by paying in instalments or taking a critical look at their energy consumption,” Ms Vaverka goes on to explain. Energy poverty Concrete, long-term help For more detailed information on the issue of energy poverty, please refer to the German-language She also describes an actual case which it was possible publication ‘The Challenge of Energy Poverty and to solve in this way. Despite an existing district heating Wiener Stadtwerke’s Contribution’ in the download connection, a family was unable to obtain district heat- area of the following link: ing for ¶ years because they couldn’t pay the bill. www.nachhaltigkeit.wienerstadtwerke.at Inefficient electric radiators were used instead for many years – with disastrous consequences and a very high
SOCIAL RESPONSIBILITY WIEN ENERGIE ANNUAL REVIEW
electricity bill. This triggered a downward spiral which, WIEN ENERGIE CUSTOMER ADVISORY BOARD thanks to the involvement of the social ombudsman office, could be stopped in the interests of those concerned. In order to complement the customer surveys carried out on “We are particularly pleased about solutions like this a regular basis, Wien Energie set up a customer advisory board at the beginning of 2012, acting as a link between because they help customers in the long term and are also Wien Energie and residential customers to improve dialogue. meaningful from a commercial standpoint,” Ms Vaverka The advisory board consists of around 20 customers. Its continues. More than , enquiries have already been members are selected according to a wide range of criteria handled since February . in order to represent the broadest cross-section of residen- tial customers as possible. Members perform their duties on a voluntary basis for a period of two years. The board meets The appreciation shown by customers, together with pub- regularly to discuss different subject areas and comes up lic recognition such as the nomination for Sozial-Marie, an with proposals which are then evaluated by the competent award for innovative social projects, constitute a valuable departments at Wien Energie to determine their feasibility. confirmation of the importance of the work done by the The customer advisory board successfully completed its employees at the social ombudsman office, as well as first functional period at the end of November. In four meet- serving to motivate them to continue dedicating them- ings, the following subject areas were discussed with the selves wholeheartedly to this task. General Management and experts from Wien Energie:
The sustainable supply of energy to low-income households • Energy and city: Ideas and suggestions for improvement were addressed in constructive talks with regard to the by means of energy-related advice and measures to improve subjects of new business segments, energy efficiency, energy efficiency and energy saving on the basis of net- renewable energy, service and advice. working and cooperation (German abbreviation: NEVK). • EasyHome Control: The members of the customer advisory board were given the exclusive opportunity to try out this Behind this long description hides another project that service to control the heating and small electrical appli- provides clear support to ensure the supply of energy ances at home, providing valuable feedback to fine-tune under the leadership of the Wien Energie ombudsman this innovative service (for details, see page 44). office. The focus of the project is free energy • Smart metering: Members of the advisory board were consultations on site for the target group, carried out given the opportunity to participate in a pilot project for by employees from the cooperation partner ‘die umwelt- the new digitalised meters. beratung’ Vienna. A key part of these consultations is • E-mobility: Following a number of test drives, members highlighting potential energy savings and tips to reduce gave constructive feedback on various e-vehicles and energy costs. charging stations.
Energy efficiency and saving measures recommended as a All of the meetings were chaired by an external person and result of the consultation are implemented using funds were characterised by a very constructive climate of discus- from the Federal Ministry of Labour, Social Affairs and sion. In addition to this, members were given interesting Consumer Protection, the Green Electricity Fund (Öko- insights into the world of Wien Energie with visits to places stromfond) and in cooperation with Municipal Department such as the forest biomass power plant in Simmering or the Spittelau district cooling centre. ª. The aim of the project is to provide people concerned with support in respect of energy-related matters and to In January 2014, the new members of the customer advisory improve their living situation by implementing energy effi- board were selected for the functional period from 2014 to ciency measures. The NEVK project has been running since 2015. December and is set to do so until December ª.
ANNUAL REVIEW WIEN ENERGIE ENERGY SAVING
Energy Saving Made Easy The cleanest form of energy is that which is never even consumed. This bit of wisdom is nothing new. But how can energy be saved without causing inconvenience or having to forgo something?
The champion of saving energy – the town of Schwechat
“There are many ways in which we can help local authorities and companies to reduce their energy con- sumption,” explains Udo Altphart, head of the energy efficiency department at Energiecomfort, a subsidiary of Wien Energie. Often it’s just a little fine-tuning that is needed, but it is also just as often that a fundamen- tal realignment of the energy supply is required. In times of such strained public budgets and high pressure to cut costs, the possibility of achieving significant energy savings which were previously not utilised has become very enticing.
The situation is different in the town of Schwechat. Wien Energie has been managing various town facilities for several years: the town hall, school buildings, sports facilities and nurseries. “It is relatively easy to explain what we do. Our technicians take a close look at how the individual energy controls or the operating times are set and check if these parameters match the structure and use of the building,” explains Mr Altphart. Udo Altphart is the head In general, the objective is to of the energy efficiency improve the efficiency ratio of department at Wien the distribution and reconcile Energie’s subsidiary, Energiecomfort. this with the needs of the customers.
Savings of to percent
The indoor temperature in schools is usually between and degrees Celsius; the optimum temperature would be around degrees Celsius. By proceeding carefully and with the right communication, a gradual reduction in indoor temperature saves money. The same applies to the optimisation of the timing. Thanks to the comprehensive advice and support from Wien Energie’s experienced experts, the town of Schwechat saves a
ENERGY SAVING WIEN ENERGIE ANNUAL REVIEW
Using electricity at home high five-figure amount every year. Although Wien In addition to the services and online services Energie is unable to guarantee the extent of potential described above, Wien Energie’s experts are savings, these usually amount to between and also on hand to answer questions relating to the percent. “In the best case, the customer does not even following areas: notice that we have worked in their building. He only has to look as his bill to see how efficient we were, because • Practical energy-saving advice on using he has to pay much less,” continues Altphart. electricity sensibly • Support in the selection of appliances for new The amount saved is split between the customer and installations and replacements Wien Energie, as contractually defined in advance – both parties benefit, and the environment as well. • Planning advice on the selection of appliances for fitted kitchens Long-term benefits • Measuring equipment lending service in order to find out how much energy existing In order to be able to achieve these benefits in the long equipment uses term as well, Energiecomfort also ensures the local man- • Advice on how to connect, and the options for agers are properly trained and also assumes responsi- connecting, your electrical appliances bility for ongoing maintenance and service work. • Energy consumption comparisons between individual appliances Energiecomfort has more than years of experience in • Tips on the selection of the right lighting for running decentralised energy facilities in an energy- your home – energy consumption, service life, efficient way. The many customers benefiting effectively light colour, etc. from these services include the university campus • Comparisons of different forms of lighting with at Oberlaa, Vienna airport, as well as many small and our ‘Light and Colour’ exhibition medium-sized enterprises throughout Austria. On only one occasion up to now have the experts from • The option of carrying out a standby energy Energiecomfort not been able to identify any potential check savings. Udo Altphart is also happy to admit this. What • Tips on overheating and how to avoid having was the reason for this? “A municipality had a really to purchase air-conditioning systems good facility operator. There was simply no room for • Estimations of the cooling load of air- improvement. In such cases, the contract makes provi- conditioning appliances sions for an easy exit scenario. If we are not able to achieve savings of at least four percent, the collabora- tion is terminated,” says Mr Altphart in conclusion. However, the customer even benefits in this very unlikely Comparing heating costs case in that he has the fact confirmed that his facility is running optimally – for free. This means that conducting You also receive competent advice on different an inspection pays off in every case. forms of heating, including: • Gas heating with or without a gas-fired Energy-saving check condensing boiler • District heating In addition to the services for business and key account customers outlined above, Wien Energie also provides • Heat pump heating using geothermal energy, residential customers with comprehensive information ground water or air on how to use energy conservatively. Besides giving • Direct electric heating individual advice at the Wien Energie Haus or at cus- • Night-time electricity storage heating tomer service centres, Wien Energie also offers an • Oil-fired boiler heating online test to evaluate your own behaviour. This test includes the areas of household, heating and hot water. • Biomass heating Your own energy consumption can be compared with the • Solar heating average values for a Viennese household, and optimisa- • Mixed systems combining different energy tion potential is also shown at the same time. For more sources details, see www.energiesparcheck.at.
¡ ANNUAL REVIEW 2013 WIEN ENERGIE PRODUCTION
Wien Energie promotes the use of renewable energy sources, such as with the construction of the Glinzendorf wind farm in Lower Austria.
50 PRODUCTION WIEN ENERGIE ANNUAL REVIEW
Production Wien Energie’s production division encompasses different types of facilities to generate electricity and heat. The cogeneration power plants produce combined electricity and heat in a highly efficient way. In addition to facilities harnessing renewable energy sources, smaller, decentralised production facilities are growing in importance as they further optimise Wien Energie’s production mix.
Wien Energie’s production strategy is based INSTALLED ELECTRICAL OUTPUT on the proven and internationally recognised in megawatt1) 2013 Vienna Model (see also page µ). Alongside Thermal power plants – condensation operation 1,927.5 producing energy efficiently in the cogeneration power Thermal power plants – cogeneration 1,736.2 plants, other key pillars of this model include the increased use of renewable energy sources, competent Hydropower, wind power and photovoltaic systems 206.5 advisory services for customers and waste incineration Renewable energy sources2) 231.0 for the supply of district heating. Cogeneration technol- Total installed output based on cogeneration operation 2,174.0 ogy, however, enables Wien Energie plants to achieve a ) No network feed-in from Spittelau waste incineration plant in due to fuel utilisation ratio of up to µ percent. Conventional reconstruction work combined gas and steam power plants only reach an effi- ) Incl. biomass and proportion of waste recycling ciency ratio of between and percent, while con- ventional thermal power plants achieve just ª percent Hydropower when producing electricity. Wien Energie operates hydropower plants in the three Lower Austrian municipalities of Opponitz, Gaming and Production plants – electricity Trumau. Wien Energie has a one-third stake in the Nussdorf hydropower plant located on the Danube on Thermal power plants the outskirts of Vienna which has a total output of By operating three thermal power plants in the ª.µ megawatts. In addition to this, Wien Energie holds financial year, Wien Energie was responsible for generat- power drawing rights to the Freudenau and Greifenstein ing around ¶ percent of total energy produced. Natural Danube power plants. In , Wien Energie acquired a gas is mainly used as the primary energy source. The cur- share of percent in Verbund Innkraftwerke GmbH in rent situation in the energy industry presents significant Germany, which operates hydropower plants along challenges for Wien Energie in operating these power the river Inn in Bavaria. plants because the price of the gas used does not reflect the price of electricity in the market (for details, see In view of the limited scope for constructing additional page ª). Simmering is the top performing power plant hydropower plants in the Greater Vienna metropolitan owned by Wien Energie. It was commissioned in À fol- area, Wien Energie is pursuing corresponding projects lowing an investment of around EUR million and is in Austria and on a very selective basis in Europe too. one of the most modern and environmentally friendly Wien Energie runs µ small-scale hydropower plants plants of its kind. The Simmering and power plants which have been modernised to a large extent over the are at the same location. The Donaustadt power plant past few years. Nine hydropower plants are operated in came online in . While an efficiency ratio of µ per- the Balkans. cent would be achieved when producing electricity alone, this ratio increases to µ percent when district heating Wind power is produced at the same time. Compared with conven- Wien Energie has been relying on wind power since ÀÀ¶ tional power plants of this type and dimension, it saves and, combining its own wind farms and its investments, around million m of natural gas. Run as a combined has a current installed output totalling megawatts. In gas and steam power plant in Leopoldau since Àµµ, the addition to sites in Vienna, Lower Austria, Styria and facility was in operation until April , having been only Burgenland, Wien Energie has operated a wind farm with used on a temporary basis over the past few years. twelve wind turbines at Lével in Hungary since µ. In
ANNUAL REVIEW WIEN ENERGIE PRODUCTION
cooperation with EVN, the Glinzendorf wind farm was Heat production facilities built in with nine wind turbines and an installed output of µ megawatts. Wien Energie supplies around , households and more than ,ª key accounts with district heating and Biomass hot water and is therefore one of the largest companies Thanks to the extensive domestic availability and the in this sector in Europe. mature electricity generating technology now existing, biomass power stations are seen as an environmentally A total of ¶ production facilities at twelve sites feed friendly (climate neutral) form of production with hot water into the district heating network. Depending considerable potential. Wien Energie harnesses this on the ambient air temperature, the variable inlet potential in Simmering, where it operates Austria’s larg- temperature ranges between À°C and °C. The base est forest biomass power plant in cooperation with the load requirements are sourced from the thermal waste Austrian Forestry Commission. This power plant supplies incineration plants at Spittelau, which is currently being around ªµ, households in Vienna with electricity modernised, Flötzersteig, Simmeringer Haide and and , with district heating using cogeneration Pfaffenau. In total, these four plants process around technology. The Wien Energie subsidiary Energiecomfort À, tonnes of waste, special waste and sewage operates additional biomass communal heating projects sludge every year. in Austria such as in Purkersdorf, Trumau, Seefeld, Tannheim and Grän as well as in Oberstaufen (Germany) Average demand is met by drawing on the cogeneration and Prešov (Slovakia). capacities of the power plants at Donaustadt, Simmering, the forest biomass power plant at Simmering Wien Energie’s total electricity production, including and the OMV oil refinery in Schwechat. The district proportional investments, was . percent below heating plants at Arsenal, Kagran, Leopoldau, the level of the previous year. The output of calorific Spittelau and Inzersdorf Süd as well as the facility at power plants fell by nearly percent as a result of Wilhelminenspital are only used to meet peak demand. the current conditions prevailing in the energy sector. In contrast, the proportion of electricity produced In the financial year and including proportions of from renewable energy sources went up by . percent, energy generated by investments, the total volume of representing a rise from µ. percent in the previous heat produced increased by . percent. The proportion year to percent of total production. of heat produced from waste and biomass declined overall from À.À percent in the previous year to Additional increase in electricity production ¶.À percent. The amount of heat extracted from the forest biomass power plant increased by À. percent. Wien Energie’s strategy is to continuously increase In contrast, the amount of heat produced from waste this proportion over the next few years with a clear incineration fell as a result of the modernisation work focus on renewable energies and decentralised forms at Spittelau. of production. The aim is to increase its proportion of total energy produced from percent now to around percent by , but by at least percent. The proportion of total electricity needs produced should reach approximately ¶ percent. Please see page for an overview of current projects.
ELECTRICITY PRODUCTION Group Division Energy incl. investments in MWh 2013 2012 +/-% Thermal power plants 3,045,626 3,945,913 -22.8%
Hydropower plants 752,820 669,229 12.5%
Wind turbines and photovoltaic systems 129,200 110,859 16.5%
Forest biomass power plants 131,676 114,576 14.9%
Waste incineration1) 0 766 -100.0%
Total electricity production 4,059,322 4,841,344 -16.2% Proportion of energy produced from renewable energy sources in % 25.0% 18.5% 35.1%
) No network feed-in from Spittelau waste incineration plant in due to reconstruction work
PRODUCTION WIEN ENERGIE ANNUAL REVIEW
FIRST HIGHµPRESSURE HEAT STORAGE FACILITY
After just 14 months of building work, a very special and innovative project was taken into service at the Simmering site: Wien Energie’s high- pressure heat storage facility. Simply put, the two cylindrical steel tanks work like a thermos flask. Surplus water with a temperature of as high as 150°C is pumped into the storage facility. When it is needed, it taken from here and pumped into the dis- trict heating network. The hot water comes primarily from the Simmering forest biomass power plant, but the Simmering and Donaustadt cogen- eration power plants have also been integrated.
This heat storage facility allows the timing of heat production and heat consumption to be decoupled, thereby making it possible to reduce the use of peak-load boilers at times of very high electricity and heat con- sumption. This reduces significantly the use of primary energy and saves as much as 11,000 tonnes of CO2 emissions every year. Around EUR 20 million has been invested in this innovative storage concept.
HIGHµPRESSURE HEAT STORAGE FACILITY SIMMERING Pressure 10 bar (tank floor) and 6 bar (tank ceiling) Storage volume water 11,000 m3 Total height 45 metres Storage capacity 850 MWh Total amount of concrete for the foundations 2,000 m3
Annual CO2 savings 11,000 tonnes Supply performance / year 20,000 households Investment volume EUR 20 million
ANNUAL REVIEW WIEN ENERGIE PRODUCTION
THE SUPPLY OF HEATING AND HEAT PRODUCTION COOLING AT A GLANCE Energy division incl. investments in MWh 2013 2012 +/-% Cogeneration 3,087,384 3,294,064 -6.3%
District heating network Waste incineration (incl. Pfaffenau) 1,359,890 1,435,994 -5.3% District heating is transported via a Biomass 405,634 344,603 17.7% primary and secondary network. In the course of the integration of Wien Other 1,486,073 872,568 70.3% Energie Fernwärme into Wien Energie Total heat production incl. investments 6,338,981 5,974,232 6.6% GmbH in , the primary network Proportion of heat produced from was transferred to Wiener Netze waste and biomass in % 27.9% 29.9% -7.0% GmbH, also a wholly subsidiary of Proportion of heat produced from Wiener Stadtwerke Holding AG. The renewable energy sources in % 19.3% 20.3% -4.9% secondary network connects to the individual buildings, where the actual heat exchange takes place in converter substations and provides heat to the building. This is respon- sibility of Wien Energie. In addition to ongoing maintenance work, the existing secondary network was fur- ther enlarged in the financial year to supply new customers.
Local heating In contrast to district heating, local heating is transported over relatively short distances and supplies mainly municipalities and traders. The local heating network of Wien Energie dis- tinguishes between two types of networks. Communal heating net- works, which are usually more than one kilometre in length, connect bio- mass power plants to customers. Local heating networks are shorter and are used in local heating cen- tres. In the financial year, a total of ¶,ÀÀ megawatt hours of local heating were produced by Wien Energie in local heating plants.
District cooling Over the past few years, Wien Energie has been successively build- ing and expanding the commercial field of district cooling. District cool- ing is a cost-effective and environ- Wien Energie employees at work for mentally sensitive alternative to air environmentally friendly and efficient
conditioning, reducing CO emissions energy solutions. by around ¶ percent compared to conventional air conditioning units. Please see page for an overview of Wien Energie’s district cooling projects, as well as how they work.
REPORT: SPITTELAU WIEN ENERGIE ANNUAL REVIEW
Spittelau Waste Incineration Plant 2.0
Report. Wien Energie sets new standards with the optimisation of the energy effi- ciency of the Spittelau waste incineration plant. The installed output of electricity production is to be tripled to megawatt and five million cubic metres of natural gas will be saved every year. Find out how this is possible by taking a look around.
When the Spittelau waste incineration came online in The internationally renowned artist Friedensreich À¶, it could not have been foreseen just how impor- Hundertwasser converted the sterile, functional build- tant it would become for Vienna’s image over the ing into a colourful work of art, attracting visitors years. It was originally built to supply district heating from all over the world. It was even the inspiration for to the Vienna General Hospital. However, after a large a power plant built in the Japanese city of Osaka. fire in Àµ¶, there was talk of tearing it down. This wasn’t to be. Not only was the plant rebuilt, but it was With a total installed output of ª megawatts and an given a complete make-over between Àµµ and ÀÀ. average production of ª gigawatt hours of electricity
Purified exhaust gases Thermal waste treatment at Spittelau
Incineration and Baghouse filter with Exhaust gas Denitrification and energy production active charcoal washer dioxin destruction Up to deliveries per day (= , tonnes per year)
Waste water cleaning µ unloading stations for the approx. ¶, m waste bunker Purified water
Landfill site on Rautenweg Chamber filter press
Walls of landfill site stabilised with ash / slag cement % slag .% ash kg / tonne of waste kg / tonne of waste
. % dry cake Slag recycling and metal extraction kg / tonne of waste Metals are recovered as a valuable resource Subterranean landfill site in Germany
This schematic plan of the most important process steps in the Spittelau waste incineration plant shows the entire electricity circuit – from the delivery of waste to the production of energy and residual waste.
ANNUAL REVIEW WIEN ENERGIE REPORT: SPITTELAU
Report. Continuation
Electricity production at Spittelau is set to be almost and gigawatt hours of heat, the three times eters of the two new boilers, which are Spittelau facility is the second largest being installed one after the other at production site in Wien Energie’s as high in great expense. “These will increase the district heating network after the the future. temperature and pressure from °C Simmering cogeneration power plant. and bar in the old boilers to ª°C Around , tonnes of waste are and ª bar,” says Ponweiser. By the thermally recycled every year; the energy produced is same token, the centrepiece of the plant, the combus- enough to supply over , households with district tion grate, is already waiting to start doing its job, heating every year. Having been in operation for more which is to optimise combustion as waste is passed than ª years, the plant has begun to show signs of through its fixed and moveable rods. More milestones its age. The current modernisation work under way, will follow until the work is competed in . The which encompasses virtually every aspect of the plant, schedule was and continues to be ambitious, as the signals the beginning of a new era for this Viennese following list demonstrates. landmark.
Optimising energy efficiency CHRONOLOGY OF THE MODERNISATION This statement according to which the modernisation work between and is being carried out also December 2011 to February 2012: Preliminary construc- encapsulates the aims of the work. Electricity produc- tion work. A construction camp and the revolving tower tion is to be tripled to around megawatts – while at crane is set up. the same time, saving five million cubic metres of natu- March to April 2012: The actual renovation work starts. ral gas. This will be made possible by the greater effi- The plant is shut down. The waste bunker is renovated and the clinker pit built over. All links between the waste ciency brought by the modernisation of individual boilers are cut to be able begin dismantling them safely. parts of the plant. For instance, the new denitrifica- tion (DeNOx) plant and a low-temperature catalytic Autumn 2012: Work to install the new boiler 2 and fabric filter including secondary units starts and due for com- converter will significantly cut the demand for gas. pletion in August 2013. Replacing the old electric filters with fabric filters will Spring 2013: Work to install the new district heating also improve the plant’s ability to remove dust parti- converter substation begins. cles. In view of the fact that the plant is an important hub for the supply of energy to the Vienna General August 2013: A new turbine and generator is delivered and installed. Hospital, as well as the northern and eastern districts of Vienna, the two combustion lines are being modern- September 2013 to February 2014: The critical stage of the building work begins. Shared parts of the plant such ised at different times to keep any interruption to as the DeNOX facility (catalytic converter for nitrogen operations as short as possible. oxide) or the ash silo are dismantled and modernised. The old boiler 1 is now dismantled and the new boiler 2 “We are on schedule,” says Ulrich Ponweiser, Wien prepared to be taken into service. Energie’s site manager. The most recent milestone March 2014: Boiler 2 is now ready for its first waste fire. reached was the completion of the new converter sub- The work to install the turbine and generator has been stations, which generate heat in a water circuit and completed. feed this into the district heating network. “The hot May 2014: Electricity production starts again; the work to water actually comes from the steam which is produced re-install boiler 1 begins. in the waste boilers and channelled to the turbine and May / June 2015: All of the modernisation, renovation the converter substation,” Mr Ponweiser goes on to and construction work – including for boiler 1 – have now explain. In addition to the two reasons given above, been completed. The Spittelau plant can now return to full service and come back online. electricity production will be nearly three times as effective in the future as a result of the steam param-
REPORT: SPITTELAU WIEN ENERGIE ANNUAL REVIEW
Report. Continuation
Efficiency technology with attractive architecture: the Spittelau waste incineration plant.
Delicate precision work: the generator and new turbine were delivered by special transporters and installed in summer .
ANNUAL REVIEW WIEN ENERGIE SALES
Sales Wien Energie is positioned in the liberalised energy markets as a reliable, fair and competent partner for all matters and services relating to the supply of energy in a modern world.
Wien Energie fulfilled the unbundling directly responsible for all sales activities relating to dis- requirements laid down by the European Union trict heating and district cooling. In , an innovative ahead of time by founding its subsidiary Wien platform was set up on the website www.wienenergie.at Energie Vertrieb GmbH & Co KG in . At that time, to allow partners and customers speedy access to all of gas and electricity sales activities were combined in the relevant information and contact details. See page ª EnergieAllianz Austria, an alliance of several Austrian for more details of Wien Energie’s portfolio of services. energy companies, so as to benefit from economies of scale. The operational core competencies of this com- Pricing policy and influencing factors pany include the general management of energy sales, the development of attractive products and pricing. As a Wien Energie pursues a responsible and sustainable general partner, EnergieAllianz Austria also manages the policy when purchasing electricity and primary energy regional sales organisations of its shareholders, includ- sources – mainly natural gas. These procurement pro- ing Wien Energie Vertrieb. cesses relate primarily to so-called futures markets, and therefore take place well ahead of actual deliveries to Wien Energie holds energy supply con- customers. This means that market price fluctuations do tracts with approximately . million pri- not have an immediate impact on the purchasing price – vate customers and supplies around there is a time delay – and therefore take time to affect , businesses and ª, farms pricing for the customers. In , the average price for in the Greater Vienna area with elec- imported natural gas was stable following a clear rise tricity and gas. Wien Energie is in the previous year. responsible for looking after the cus- tomers. EnergieAllianz Austria Higher gas sales were recorded in as a result of the looks after key accounts cold weather – the average temperature in Wien supplied with electric- Energie’s supply area was almost four percent lower than ity, while EconGas, in in the previous year. However, the volume of gas sold which Wien Energie declined overall due to the fact that Wien Energie made has a . percent less use of its gas-fired power plants. European electric- stake, looks ity markets were again characterised by a high degree of after those volatility during the financial year. After reaching a supplied with high February, prices fell to their lowest level in June. gas. Wien Prices then began to recover as the year progressed. At Energie is the end of the year, the base price was on a par with the previous year at EUR .µ per megawatt hour, while the peak price fell by more than six percent to EUR .ª.
After a constant trend in the previous year, Wien Energie Vertrieb reduced its tariffs for electricity and gas in October as part of EnergieAllianz Austria. Residential and business customers benefited from a tar- iff reduction of . percent on average for standard elec- tricity and gas products (in relation to the energy price excluding taxes, feed and network charges). Generally, however, Wien Energie has very limited room for manoeu-
SALES WIEN ENERGIE ANNUAL REVIEW
BREAKDOWN OF COSTS FOR A NATURAL GAS CUSTOMER ¼OPTIMA TARIFF½ in Vienna with an annual consumption of 10,700 kWh
1
3
2 vre when setting tariffs. For an average household, just 1 46% Energy price ª percent of the overall cost of natural gas is for the 2 26% Network charge actual commodity, and only percent in the case of 3 28% Taxes and fees electricity. The remainder is levied for taxes, duties and network charges, which are set by the regulator. In addi- tion to this reduction in tariffs, Wien Energie launched an BREAKDOWN OF COSTS energy efficiency offensive in , which is set to run FOR AN ELECTRICITY CUSTOMER ¼OPTIMA TARIFF½ until September ª (for details, see page ª). in Vienna with an annual consumption of 2,500 kWh
Electricity and natural gas sales 1 Including the proportion of direct sales generated by the EEA, sales of electrical power by Wien Energie in amounted to À,.À gigawatt hours, equivalent to . percent less than in the prior year. Sales of gas were stable at ¶,¶À.µ gigawatt hours
3 Local and district heating Sales of heating in were ¶. percent higher than in the previous year at ,.µ gigawatt hours as a result of 2 colder weather and the acquisition of new customers. 1 36% Energy price Transparent electricity labelling 2 27% Network charge 3 37% Taxes and fees Austrian energy providers are legally obliged to prove the origin of the electricity they supply to end consumers. The image opposite shows a breakdown of how Wien WIEN ENERGIE VERTRIEB ELECTRICITY LABELLING Energie Vertrieb’s power was produced in the period from Period under review: 1.10.2012 – 30.9.2013 October to September .
The impact on the environment calculated on the basis of 4 5 1 3 the outlined structure amounts to µ.¶ g/kWh of CO emissions. Electricity supplied by Wien Energie does not contain any nuclear power.
SALES VOLUMES in GWh 2013 20121) +/-%
Electricity 9,526.9 9,586.6 -0.6
Gas 7,792.8 7,802.4 -0.1 2 Heating 6,166.8 5,758.5 7.1
Total sales 23,486.6 23,147.5 1.5 1 49.13% Hydropower 2 41.08% Natural gas 4 3.56% Solid and liquid biomass ) The values for were restated as a result of the business year being brought 3 4.85% Wind power 5 1.38% Other green energy into line with the calendar year.
¡ ANNUAL REVIEW WIEN ENERGIE ENERGY RESEARCH
Energy Research for the Future
Report. Seestadt Aspern, one of Europe’s largest urban development projects, is currently being built in Vienna’s nd District. Wien Energie is working together with partners to develop forward-looking and innovative energy solutions.
Unique research collaboration • Smart citizen: The involvement of users in the issue A new district such as Seestadt Aspern, which is being of energy built in the open countryside, so to speak, provides an • Smart building: The intelligent management of build- opportunity to rethink from scratch issues relating to ings (consumption, production and storage of energy the supply of energy. As a result, Wien Energie decided • Smart grids: The intelligent management of energy in to become closely involved with the research distribution networks (integration of decentralised company Aspern Smart City Research GmbH & Co KG energy production facilities) (ASCR). ASCR began its work at the beginning of October • Smart ICT: Linking of buildings and energy distribution and, over the course of the coming years, will focus networks using information and communication tech- on core issues relating to the supply of energy in the nology (ICT) future. Innovative areas of research Around experts from different scientific areas are The research programme will focus on the issue of how directly involved in this research project. This ensures energy efficiency can be increased by taking a combined that different technologies of the various partners are look at buildings including renewable energy production used. The core issues are energy efficiency and the sources, storage technologies and flexible loads in
reduction of CO emissions across the follow- conjunction with the network. ing four focal areas:
ENERGY RESEARCH AT ASCR
A networked analysis of building and network data enables forward- looking energy solutions to be Data from the low- developed and voltage network External data e.g. tested. meteorological data
Building data Energy efficiency
Researching the future of energy CO reduction
ENERGY RESEARCH WIEN ENERGIE ANNUAL REVIEW
A new urban district arises – Wien Energie plays a key role through innovative energy concepts.
Buildings with a variety of different uses will take part in example, sensors can identify the heat stored in a build- the research programme (for instance rented apart- ing and know when the building has actually cooled down ments, nurseries, primary schools, student dormitories). and needs to be heated again. In this way, it becomes These buildings are equipped with innovative technology possible to calculate heating needs individually several and, from , will deliver data that will form the basis days in advance on the basis of weather forecasts and of research work. The data are analysed by ASCR and to manage the building in an energy-efficient way. used for simulation calculations. The aim is to optimise This intelligent management ultimately reduces peak the building’s demand for energy and thereby cut energy demand and energy consumption is cut considerably. costs. Consequently, with its participation in this research collaboration, Wien Energie makes a key contribution to To begin with, clear applications are defined which serve Vienna becoming a ‘smart city’. as the basis for the overall technical concept. This con- cept includes the required technical infrastructure such Safeguarding data protection as heat pumps, solar installations, thermal and electrical Safely handling the data of participants is a key condi- storage facilities, as well as the basic architecture of tion for implementing this unique research project. the information and communication technology relating The data required to carry this research project in the to hardware and software. One of the aims here is to best way possible are only collected and analysed with combine energy-relevant subsystems into an optimised the written consent of the tenants. Moreover, master system. How can the peak load of buildings be comprehensive information events are reduced or how can buildings be used as storage facili- planned that will serve to provide a clear See also ties in the electricity and heating network? These are picture of what the research is doing. www. two of the core issues. smartcity. wien.at Connected overall solutions Fact box for ASCR Integrating buildings and networks using information and communication technology create the basis for • Location: Aspern IQ Technology Centre, Seestadtstrasse 27, 1220 Vienna brand new serves: as a provider of flexible energy sup- • Shareholders: Siemens AG Österreich (44.1%), plies in the future, the building will be able to partici- Wien Energie GmbH (29.95%), Wiener Netze pate actively in the energy market, either by selling GmbH (20%), Vienna Business Agency (4.66%), standard products to energy dealers or selling balancing Wien 3420 Aspern Development AG (1.29%) energy to the network operators. Combining the techni- • Research budget: EUR 38.5 million for the next cal solutions of the various systems makes it possible to five years regulate them for all buildings according to market or • Further information: www.ascr.at network parameters. What this means is that, by way of
ANNUAL REVIEW WIEN ENERGIE STRONG TEAM Strong Team
The situation in the energy industry presents significant challenges for Wien Energie and, by extension, its ,¶¶ employees. These challenges are met with a combination of customer orientation, commitment to performance and team spirit.
PERSONNEL STRATEGY Performance-oriented personnel strategy Wien Energie pursues a personnel strategy with the following key objectives:
• Positioning ourselves as an attractive and reliable employer • Increasing operating efficiency • Continuous improvement to customer orientation • Comprehensive training and further education • Performance-based pay • Promoting identification with the company and motivation
The central HR department is responsible for implementing this strategy, which is coordinated closely with the parent company, Wiener Stadtwerke, particularly with regard to training and further education.
Wien Energie employed an average of ,¶¶ people in the financial year. This inte- gration is aimed primarily at boosting opera- tional efficiency and to make use of synergies. A number of departments, especially those with operational tasks such as accounting or law, have been or will be merged to avoid having duplicate structures. The employees concerned were informed well in advance about the potential impact of such integration on their duties. Part of the former district heating team moved to Wien Energie’s head office at TownTown in the reporting year.
Other areas of work and interfaces run separately up to now will be subject to reconciliation and merging in the years to come to streamline and improve operations.
Comprehensive training and further education
Wien Energie endeavours to tap the full potential of its employees as far as possible, and therefore invests extensively in promoting their individual talents and opportunities. This potential is identified in the course of regular staff appraisals. These meetings then serve Careers with an apprenticeship – Wien Energie gives young people as a basis for specific development steps agreed in a solid start to technical and order to fine-tune and enhance these skills. The focus commercial professions.
RUBRIKENTITEL WIEN ENERGIE ANNUAL REVIEW
here is on employee’s taking responsibility for their own further development. This also includes identifying internal change and career opportunities, which will continue to grow in importance in a dynamic setting.
Careers are planned transparently in consultation with direct supervisors and supported by the HR department, all of which is intended to ensure that the future demand for highly qualified workers is met.
In addition to specialised individual qualifications and general training measures, Wien Energie’s employees also have access to the wide range of training and qualification courses offered by the Wiener Stadtwerke Group. These range from management and specialist training courses to subject-specific training events, safety courses, coaching, specialist lectures and seminars in the areas of personal development, team building and working methods. Depending on the exist- ing level of education and employees’ willingness to learn, Wien Energie also supports employees who wish to complete an apprenticeship, their high school graduation or a degree programme.
Supporting junior employees
Furthermore, Wien Energie encourages scientific research in relevant business areas conducted by stu- dents and, thereby, creates a bridge between academic research and the world of work. This exchange is pro- moted through collaborative work, notably with the University of Vienna and the Vienna University of With ,¶¶ employees, Technology. On the basis of this, special courses are held and participation in university summer programmes Wien Energie is one of enabled, something which is to be intensified in ª. the largest employers Wien Energie makes it possible for trainees to identify their own professional interests through a comprehen- in Eastern Austria. sive training programme. Pupils and students are also offered interesting summer jobs, work placements and taster opportunities. One of the main focuses in the area of human resources at Wien Energie is the training and support of apprentices and trainees. At the end of , a total of ¶ apprentices and trainees were employed and receiving in-depth training in various commercial and technical positions.
Health and safety
Due to the area of business the company operates in, the employees of Wien Energie are exposed to a number of different hazards, particularly in the area of produc- tion. Wien Energie undertakes numerous steps to pre- vent accidents and promote health. Campaigns to raise awareness and regular safety training courses are regu-
ANNUAL REVIEW WIEN ENERGIE STRONG TEAM
The successful combination of sport and energy: The annual Wien Energie half marathon. larly organised in order to minimise risks. As a result of Communication and motivation standardised safety clothing and frequent emergency and fire drills, it has been possible to continuously Wien Energie attaches considerable importance to reduce the number of accidents in recent years. transparent and regular communication with its person- nel. This relies on a variety of different information In the interests of their health, the Wien Energie team channels. Since ÀÀÀ, the Wiener Stadtwerke staff can take advantage of a wide-ranging programme magazine, published six times a year, has been informing covering sport, anti-smoking seminars and nutritional employees about internal developments and issues. advice. The Wien Energie Business Run is an annual A regular flow of information is also communicated via highlight, in which more than ¶ Wien Energie took the intranet and topic-specific newsletters. Infoscreens part in . In , a new energy centre was opened are also on hand at every location providing up-to-date which was initiated by the Wien Energie personnel information and developments relating to the company. representative and which offers a comprehensive health In and at the beginning of ª, a number of infor- programme. The existing programme in the field of health mation events were also organised, in the course of and safety was recently complemented by the addition of which the General Management presented and explained work psychology training courses to prevent bullying and the company’s strategy and the required structural burnout, for instance. changes.
STRONG TEAM WIEN ENERGIE ANNUAL REVIEW
Wien Energie supports equality by means of flexible working models and promotion efforts.
Wien Energie has set up a performance-based remunera- Promoting equal opportunities tion system based on agreed targets and bonuses for exceptional performance as the key to motivating The energy sector is generally characterised by a employees and increasing their identification with the relatively low proportion of female employees. company and its objectives. In , a market-oriented Wien Energie is striving to support change in this salary system was introduced which ensures fair and area and is therefore focussing on ensuring equal performance-based remuneration while at the same time opportunities for women. For example, flexible work- allowing for a high degree of transparency for career- ing-time and flexi-time models are aimed at allowing planning purposes. Personnel also have the option of employees to more easily combine their professional finding out about other positions within the Group by and family roles as well as to integrate back into the means of a job rotation scheme. Development options company after being on parental leave. Moreover, and promotion prospects are regularly defined in meet- Wien Energie is also attempting to stimulate the ings with the relevant managers. During the finan- interest of women in technical professions through a cial year, the so-called Welcome Day events of Wiener series of programmes such as participation in the Stadtwerke continued. These were aimed at all subsidiar- so-called Vienna Daughter’s Day event. At the end of ies and gave participants an insight into the various , ª.µ percent of all employees in the Wien business divisions. Energie Group Division were female.
ANNUAL REVIEW WIEN ENERGIE STRONG TEAM
Wien Energie offers its ,¶¶ employees exciting areas of work, demanding a high degree of performance and an above-average level of commitment.
Wien Energie has also set up employment models in The change processes do not just relate to professional order to meet the requirements of employees with special ambition: “The attitude of having a job has changed very needs as well as possible. For instance, two visually much for the better.” This is ultimately reflected in the impaired people have already been working on the quality, both in terms of performance in the company and switchboard for a number of years. The number of in the professional college,” says Meszaros. The number employees at Wien Energie with special needs stood of applicants coming from a business school or academy at ¶ª at the end of . who want to do an apprenticeship seems to be on the rise: “This often means an enormous head start in terms From apprentice to manager of knowledge,” she says, also seeing the general affinity of young people for computers as a significant starting Elisabeth Meszaros sees every day at work just how advantage. much has changed in admissions to apprenticeships. As the apprenticeship and trainings officer in Wien Even though apprenticeships still have to contend with Energie’s commercial division, she has been looking after their image, Meszaros has noticed that attitudes are junior employees in the company for more than ten years. also changing here: “Many career paths at Wien Energie have already demonstrated that it is possible to work your way up in a company from being an apprentice to becoming a manager.
STRONG TEAM WIEN ENERGIE ANNUAL REVIEW
INTERVIEW An interview with Birgit Fiala About her daily work, the most common customer enquiries and how she keeps calm even in stressful situations.
Could you briefly outline How many employees Is there a particular your professional work here? conversation that has background? FIALA: There are currently stuck in your mind? FIALA: Before I joined Wien around colleagues FIALA: There are many BIRGIT FIALA Energie in what was then working in the customer stories that I could tell Team leader at the commercial customer care telephone centre. here, from gentle attempts Wien Energie’s customer service department almost Because our lines are to flirt and callers who care telephone centre years ago, I had worked open from ¶: am to demand advice although for many years in retail, pm, Monday to Friday, they are not even our cus- “In-depth which meant that I was we work in shifts. In addi- tomers. I particularly like already very familiar with a tion to this, around ª to remember one customer knowledge and whole host of customer employees handle the who I was able to help in a understanding issues. When I started my written enquiries we non-bureaucratic way and career at Wien Energie, receive from our custom- who then brought a small are a must for the industry environment ers by post or email. bunch of flowers the next providing our was very different; after day to say thank you. all, energy markets were And how many enquiries customers with only liberalised ten years are handled every day? What special tasks are competent ago or so. At that time, FIALA: It can be as many as associated with your energy providers effec- telephone enquiries or position as team advice.” tively had a monopoly and more per employee on busy leader? the level of customer care days, although each con- FIALA: Every team consists bore no comparison to the versation lasts between of ª employees. My job standards we have today. three and four minutes on as team leader includes average. On top of this ensuring that these What has changed comes the forwarding of colleagues receive regular specifically since then? enquiries to other depart- training, helping new FIALA: In my view, the ments as well as documen- colleagues to settle in, general attitude towards tation work. as well as ensuring quality customers has changed and handling complaints – dramatically. Since , How do you keep a cool which are thankfully very my department has been head here? rare. known as the ‘customer FIALA: The most important care centre’ – we take thing in this work is, quite care of the requests of simply, that you like people our customers. When we and that you can put your- say ‘take care of’, we self in their position. And mean offering specific of course that you have a solutions quickly. This good level of knowledge ranges from providing which you can call on information about various quickly. In this respect, we tariff models to providing receive regular training. support in case of techni- Being integrated into a cal breakdowns or helping good team should not be our customers to register underestimated either. or change address. All of these conditions have been met at Wien Energie – I wouldn’t have been here for such a long time otherwise (laughs).
ANNUAL REVIEW WIEN ENERGIE ANALYSIS OF BUSINESS DEVELOPMENT Analysis of Business Development For the financial year from January to December
The following analysis of business development during represents a voluntary overview of the financial management of Wien Energie division which, besides Wien Energie GmbH, also includes its subsidiaries and holdings (see List of Holdings on page ).
An audit was conducted by an auditor in the course of the preparation of the financial statements of Wiener Stadtwerke. The underlying audited financial statements of the individual companies have been submitted to the register of companies.
In order to increase insight and transparency, Section includes an abridged version of the Profit and Loss Account and the Balance Sheet from the audited Management Report of Wien Energie GmbH.
Table of Contents . Operations . Legislative environment
. Development of commercial environment, demand and prices
. Factors influencing financial results . Revenue and earnings position . Investments . Personnel
. Development of business in and financial position of Wien Energie GmbH
. Environment, quality and safety . Research, technology and innovation . Internal control and risk management system . Outlook . Events after the balance sheet date
ANALYSIS OF BUSINESS DEVELOPMENT WIEN ENERGIE ANNUAL REVIEW
ANALYSIS OF BUSINESS DEVELOPMENT
. Operations
The company provides more than two million people, approximately , businesses, industrial facilities and public buildings, as well as around , farms in Vienna, Lower Austria and Burgenland with electricity, natural gas, heat and high quality energy-related ser- vices. Wien Energie produces electrical power and heat both centrally and decentrally using renewable energy sources, thermal waste recycling and highly efficient cogeneration facilities. In addition, Wien Energie is also active in the telecommunications sector and in the provi- sion of services. Wien Energie GmbH is a wholly owned subsidiary of Wiener Stadtwerke Holding AG.
The energy division of Wiener Stadtwerke was subject to fundamental restructuring in the financial year. Fernwärme Wien GmbH, formerly a subsidiary, was fully merged into Wien Energie GmbH to create a division which is entirely competition-oriented. The primary networks of the district heating division and that of the telecommuni- cations division (particularly the passive glass fibre net- work) have been transferred from Wien Energie GmbH to its sister company Wiener Netze GmbH which, in addition, is also responsible for the power and gas grids.
. Legislative environment
Global influencing factors In late autumn , the th UNO Climate Change Con- ference took place in Doha, the capital of Qatar, with the declared aim of agreeing an extension to the Kyoto Proto- col which expired in December . Several participating countries, including Australia and the member states of the European Union were able to reach agreement on the extension of the Kyoto targets for the period to and
aim to reduce their CO emissions by to percent by this time. Contrary to the first commitment period, New Zealand, Russia, Japan and Canada did not sign up to this extension. The nations with the highest levels of
CO emissions, the USA and China, have never acceded to the Kyoto Protocol.
The conference also defined a roadmap for an interna- tionally binding climate protection treaty which is intended to be negotiated with all countries from . It was not possible to reach agreement on the funding of the Green Climate Fund which aims to provide developing countries with financial means to adapt in response to
ANNUAL REVIEW WIEN ENERGIE ANALYSIS OF BUSINESS DEVELOPMENT
climate change. The relevant negotiations continued manipulation are to be subjected to sanctions under at the UNO Climate Conference in Warsaw in November appropriate national legislation. The Austrian regulator, . At this conference, agreement was reached E-Control, has also been assigned comprehensive inves- regarding the signing of a climate protection treaty tigatory powers with which to monitor energy wholesale which aims to define the CO targets for limiting global markets. The amendments also revised the terms and warming. Furthermore, the industrialised nations conditions for changing energy providers. also agreed in principle to extend funds amounting to USD bn per year to developing countries in order to Moreover, these legislative amendments to both acts ameliorate the effects of climate change. also introduced changes relating to switching energy providers. The maximum duration of a change in supplier On July , the European Parliament decided to is now limited to three weeks and it is no longer permit- temporarily reduce (backload) the supply of emissions ted to apply a cut-off date for a switch. trading certificates. Accordingly, million CO emis- sion certificates which have not been allocated in the The Austrian Electricity Act also prescribes a mandatory current trading period will be retired (removed from the labelling of power in the case of all energy delivered market) in several phases. The intention here is to put to customers. With regard to smart meters, the amend- an end to the excess of CO emission certificates from ments to both acts and additional ordinances introduced the nd Trading Period and counter the resulting drop comprehensive rules with regard to the capturing, in prices. A legally binding amendment of this ordinance storage and transmission of data. is expected in the course of . On February , the Energy Emergency Powers Act Regulatory influencing factors in Europe (Energielenkungsgesetz ) replaced the previous and The European energy market is currently in a state of often amended legislation promulgated in , whereby fundamental change. The rising importance of renewable the content-based revisions were limited. The Federal sources of energy is posing new challenges for energy Minister of Science, Research and Economy retains the providers due to their volatility in terms of production authority to avert impending or existing disruption to the volumes – challenges which need to be overcome in order supply of energy to Austria by means of directly issuing to safeguard security of supply. At the same time, the directives to energy companies. This relates to gas, aim is also to cut CO emissions and support customers power and now also the supply of heating to the country, to achieve improvements in terms of energy efficiency. whereby cogeneration facilities or district heating companies with a calorific generating capacity of at least In June , the EU Member States reached agreement MW or annual heat production exceeding GWh on an action plan to increase energy efficiency which was are covered by the legislation. clarified in a directive in October. As a result, Member States are committed to define a suitable method for . Economic environment, demand and price ensuring an increase in energy efficiency of percent developments by the year . Specific steps were also named which should be taken in order to reach these targets. These Economic factors include the renovation of three percent per year of all Following difficult earlier years, saw an increase in public sector buildings and the introduction for all stability in terms of the global economic situation, albeit energy supply companies of a system of commitments with major regional differences. While, according to the with an annual reduction target of . percent. As an World Bank, economic growth in the USA declined from alternative to such a system of commitments, the Mem- . percent in the prior year to . percent, the GDP of ber States are also permitted to adopt suitable alterna- China remained robust with a year-on-year increase of tive forms of action. Controversy was triggered by the . percent. Following a recession in the prior year, the proposal of the European Commission relating to cogen- economy of the European Union grew only very slug- eration technology which should become compulsory for gishly, improving somewhat in the second half of the all new thermal power stations with a total calorific year. Despite a slight downturn in economic growth from capacity of over MWh. . percent to . percent in , Germany remained an important economic driver and is forecast by the Euro- Energy policy in Austria pean Commission to play a similar role in with GDP Amendments to the Austrian Electricity Act (ElWOG) and growth of . percent. the Austrian Natural Gas Act (GWG) came into effect in early August . These amendments also served to ensure compliance with the so-called REMIT regulation of the EU according to which insider trading and market
ANALYSIS OF BUSINESS DEVELOPMENT WIEN ENERGIE ANNUAL REVIEW
DEVELOPMENT OF OIL PRICES Temperature developments in USD/bbl. and EUR/bbl. 1.37 Measured in terms of the total heating degree days, 1.29 US$/€ the standard parameter for temperature-related energy 1.31 requirements, the temperatures prevailing in the core Brent USD/bbl. 110.8 supply area of Wien Energie during the reporting period 115.1 110.6 were . percent lower than the trend value of recent years and around . percent lower than in the previous year. The colder winter in generally had a positive 87.7 Brent EUR/bbl. impact on the revenues of Wien Energie. 80.9 85.7 Development of crude oil prices Higher oil imports by China and lower production levels 2012 2013 in the OPEC states kept crude oil prices above USD Source: Thomas Reuters (ICE) per barrel until the middle of February . This was followed by a gradual decline in prices in the period until DEVELOPMENT OF GAS PRICES April due to weaker economic data from the USA. The in ct/kWh period until June was characterised by stagnation at a price of around USD per barrel, with demand easily Imported gas 2.86 2.78 3.09 being matched by supply. Around the middle of June there was a rise in prices due to unrest in Libya and 2.77 Egypt which culminated in an average price of USD . 2.76 per barrel in September. After a slight drop in prices NCG in October and November, there was a further increase 2.22 towards the end of the year. The fact that the euro was strong relative to the USD (see development of exchange rates) however had a major stabilising effect on the price of oil. 2012 2013 Prices for imported natural gas, source: Statistics Austria, Development of natural gas prices January , Nov. and Dec. : Wien Energie estimates, The average price of imported gas in the financial Source NCG price: Thomson Reuters (EEX NCG) year was around . percent higher than in the prior year. The price of HUB-indexed gas (NetConnect According to estimates issued by the European Commis- Germany, NCG) trended below the price of imported sion, economic development in Austria in amounted gas, although the gap between the two prices closed to . percent after . percent in the prior year, with an considerably. This trend was attributable to generally economic upturn forecast for . Falling energy and high prices in Germany. NCG prices increased markedly food prices led to a sharp slowdown in terms of inflation in March in particular as gas storage facilities based on the consumer price index (CPI) which, according were empty at this time as a result of the cold winter and to estimates issued by the Austrian central bank (OeNB) had to be filled (at short notice). This had an impact on for the entire period, fell from . percent to . spot prices, which rose to four cent per kilowatt hour. percent. The situation on the Austrian employment mar- ket in was mixed. Despite an increase in the number This was followed by a downward trend. In the third of employed individuals, the unemployment rate calcu- quarter of , the NCG price was at a high level and lated by Eurostat rose from . percent in the prior year trending upwards slightly. In the fourth quarter, heavy to . percent in . The unemployment rate in Austria snowfall in the Alps triggered a rise in day-ahead is nonetheless among the lowest in the European Union. market rate to over . cent per kilowatt hour. Although temperatures rose significantly from the middle of Besides necessary budgetary consolidation and funda- October and record highs were achieved during the mental structural reforms, which represented challenges autumn in contrast to forecasts, the price remained mainly for the southern and south-eastern member states virtually unchanged at a level above . cent per kilowatt of the EU, the economic situation was characterised by hour. It was the warmest autumn since records began the pursuit of the low-interest-rate policy by the Euro- across almost the whole of Europe. Despite this, prices pean Central Bank. The ECB cut the base lending rate in increased at the start of the heating period in November May and November by basis points respectively and December. to a level of . percent and again restated its long- term commitment to an expansive monetary policy.
ANNUAL REVIEW WIEN ENERGIE ANALYSIS OF BUSINESS DEVELOPMENT
Development of electricity prices Development of prices for CO emission certificates
The price of electricity continued to decline in January The decline in CO certificate prices which began in , a trend which was largely attributable to the con- middle of continued in the financial year. siderable expansion of photovoltaic and wind power in Starting at a price of around six euro per tonne at the Germany. The slight improvement in prices at the begin- beginning of the financial year, price fell to below ning of February was due to the set-aside and backload- EUR . per tonne by the end of January. The volatility ing discussions held by the EU with regard to the of price development in the course of the year was temporary withdrawal of CO certificates. Shortly after- driven by EU policy to reform how CO emission certifi- wards, prices began falling again. As of the middle of cates are traded. Optimistic rumours regarding back- June, prices began to rise again which was the result of loading led to temporary price increases as of February a positive decision on backloading. In September, the . However, a negative decision by the EU parliament peak price reached the level of the previous year, with with regard to a reduction in CO certificates in April the base price only just falling short of this. The final caused prices to dip below EUR . per tonne. Only quarter of was marked by comparatively mild tem- once a positive decision was made in July did prices peratures and high network injections from wind power. for CO emission certificates recover, which continued Despite a brief cold snap at the end of November, the to trend at a level between EUR . and EUR . per average base and peak prices were more than percent tonne until the end of the year. below those of the previous year in both October and November. In spite of much higher prices around Christ- The Third Trading Period, which started in , will only mas, the base price in December was only able to match involve a lower free allocation of certificates for CHP the (low) level of the previous year. generating facilities. The majority of the requirements will have to be met by means of auctions or in the market.
. Factors influencing financial results DEVELOPMENT OF PRICES FOR Besides the changes in the legal structure mentioned CO2 EMISSION CERTIFICATES in EUR/t under Section above, there was also a change in the timing of the financial year (formerly from . . to ..) 7.0 to coincide with that of the calendar year. The compara- bility of the revenue and earnings figures of and for the year with those of the short fiscal year . . to 6.2 . . is therefore limited. In the case of the vol-
4.4 umes of energy sourced, generated and sold, a compari- son is made with the full prior year in order to increase comparability. The development of earnings in the financial year is heavily influenced by the impairment NAP II EZG 2011 charges taken against energy production facilities. The 2012 2013 somewhat colder winter period, on the other hand, had a Source: Thomas Reuters (ICE) positive impact on revenues.
. Turnover and earnings position
DEVELOPMENT OF ELECTRICITY PRICES OPERATIONAL KEY PERFORMANCE INDICATORS OF in EUR/MWh THE WIEN ENERGIE DIVISION in GWh1) 2013 2012 +/- +/-% Peak Production Electricity 3,974.2 4,793.2 -819.1 -17.1 50.6 50.4 Heat 5,606.9 5,205.6 401.3 7.7 53.8 Total 9,581.1 9,998.8 -417.8 -4.2 Sales 39.9 Electricity 9,526.9 9,586.6 -59.7 -0.6 Base 35.5 35.8 Gas 7,792.8 7,802.4 -9.6 -0.1 Heat 6,166.8 5,758.5 408.3 7.1 2012 2013 Total 23,486.6 23,147.5 339.0 1.5 Source: Base/Peak (EEX market price, monthly average), e&t 1) Fully and proportionally consolidated subsidiaries
ANALYSIS OF BUSINESS DEVELOPMENT WIEN ENERGIE ANNUAL REVIEW
Due to the unfavourable circumstances prevailing in the result of the more favourable level of availability, it was energy sector, the overall volume of energy generated by possible to increase the utilisation of heat from the for- the Wien Energie division during the reporting period, est biomass power station at Simmering by . percent ,. GWh, was . percent lower than in the prior compared to the prior year. year. PROPORTION OF WASTE AND BIOMASS The production of electrical power by all fully and pro- USED TO PRODUCE HEAT portionally consolidated subsidiaries within the Wien in GWh 2013 2012 +/- +/-% Energie division amounted to ,. GWh, . percent Heat production below the level of the prior period. Taking into account Consolidated 5,606.9 5,205.6 401.3 7.7 the proportional volumes of energy produced by invest- + Heat production ments in affiliated but unconsolidated entities and those of affiliated companies not consolidated 216.4 229.9 -13.5 -5.9 in which Wien Energie can exercise a controlling inter- est, power generation amounted to , . GWh follow- + Heat production of investments 98.1 96.3 1.8 1.9 ing ,. GWh in the preceding year. The share of electrical power generated from renewable sources of = Total heat production Group incl. energy, . percent, is well above the figure for the investments (1) 5,921.5 5,531.7 389.7 7.0 prior period. In absolute figures, the generation of elec- of which heat production trical power from renewable energy sources increased by from waste incineration and . percent to , . GWh. biomass plant (2) 1,348.0 1,365.2. -17.1. - 1.3 Share of heat production POWER FROM RENEWABLE ENERGY SOURCES from waste incineration and biomass Group incl. in GWh 2013 2012 +/- +/-% investments ((2) / (1)) 22.8% 24.7% -1.9 -7.8 Electricity production Consolidated 3,974.2 4,793.2 -819.1 -17.1 + Electricity production With volumes of , . GWh and , . GWh respec- of affiliated companies tively, sales of electrical power and gas remained close not consolidated 43.1 21.3 21.8 102.3 to the levels of the prior year. The volume of heat sold in + Electricity production the financial year, on the other hand, rose by . of investments with a controlling interest 42.0 26.8 15.3 57.0 percent to ,. GWh. = Total electricity production Group incl. Notes to the Profit and Loss Account of the investments (1) 4,059.3 4,841.3 -782.0 -16.2 Wien Energie division of which electricity production from renewable sources of The Profit and Loss Account of the Wien Energie division energy (2) 1,013.7 895.1 118.6 13.2 includes the results of Wien Energie GmbH as well those Share of electricity production of its investments as summarised in the current list of from renewable sources of energy Group incl. holdings. investments ((2) / (1)) 25.0% 18.5% 6.5 35.1 ABRIDGED PROFIT AND LOSS ACCOUNT in EUR million 2013 The generation of district heating by all of the compa- nies consolidated within the Wien Energie division during Revenues 1,944.0 the financial year amounted to , . GWh or Other own work capitalised 4.5 . percent more than in the prior period. Including the Other operating income 81.1 shares accrued by investments, the entire production of Cost of materials and other services -1,477.7 heat amounted to , . GWh, equivalent to . percent Personnel expenses -248.4 more than in the prior year. The generation of heat from Depreciation and amortisation of non-current intangible assets waste and biomass amounted to , . GWh, . per- and tangible assets -355.2 cent less than in the prior period, as a result of which Other operating expenses -241.3 the proportion of this form of generation to total gener- ation fell from . percent to . percent. This devel- EBIT -293.0 opment is attributable primarily to the interruption of Financial result 25.0 operations at the Spittelau waste incineration plant due Result on ordinary activities (EBT) -268.0 to the modernisation work currently in progress. Heat Profit/loss for the period -268.3 production from heating plants increased by percent due to reduced reliance on cogeneration facilities. As a Differences as a result of rounding figures have not been eliminated
ANNUAL REVIEW WIEN ENERGIE ANALYSIS OF BUSINESS DEVELOPMENT
Revenues EBT The revenues of the Wien Energie division amounted For the financial year, the Wien Energie division to EUR , million during the financial year. reports earnings before tax (EBT) in the amount of Following its restructuring, the Wien Energie division EUR - million. Due to the unfavourable business now generates the majority of its revenues from power, environment, impairment charges and provisions were gas, heat and cooling sales, the in-house production of respectively taken and set up with regard to power sta- electrical power, waste disposal, telecommunication tion facilities (including power drawing rights) amounting and facility management services. to EUR . million. Positive extraordinary items, on the other hand, amounted to only EUR million. Excluding Other own work capitalised these extraordinary items, the EBT would have amounted The own work capitalised relates primarily to the waste to EUR . million. incineration plant at Spittelau. ADJUSTED EBT Other operating income in EUR million 2013 This position recognises EUR . million in and EBT as per Profit and Loss Account -268 includes, inter alia, income from the provision of per- Impairments of calorific power stations (incl. power drawing rights) 344.7 sonnel, income from the recognition of building grants Other extraordinary items -28.0 and the reversal of associated provisions as well as Adjusted EBT 48.8 income from the disposal of fixed assets.
Cost of materials and services Consolidated net loss for the year These expenses predominantly relate to costs incurred Following the deduction of income taxes as well as the through the procurement of gaseous and liquid fuels, share in the net result accrued by minority shareholders, expenses for third-party power and heating as well as the consolidated net loss for the financial year the expenses charged by Wiener Netze GmbH for amounted to EUR - . million. access to and the use of the district heating primary network. Moreover, this position also recognises the HEADCOUNT°RELATED KPIS costs incurred in connection with the contracts relating in TEUR 2013 to power drawing rights. Revenue per employee 702.5 EBITDA per employee 22.5 Personnel expenses This position recognises wages and salaries as well as expenses for severance payments, pension fund In the financial year, every employee generated contributions, statutory social expenses and other average revenues of TEUR . or a share in EBITDA social expenses. amounting to TEUR ..
Depreciation and amortisation . Capital investments Amounting to EUR . million, this position recognises not only scheduled depreciation and amortisation but The investments undertaken by the Wien Energie division also the impairment charges taken against calorific in the financial year are broken down as follows: power stations. INVESTMENTS Other operating expenses in EUR million 2013 This position recognises mainly maintenance and third- Intangible assets 8.2 party expenses, waste disposal expenses, advertising Tangible assets 127.8 expenses, IT, legal and consultancy expenses as well as Financial assets 16.0 insurance-related expenditure, taxes and other charges. Total 152.0
Financial result The financial result of EUR million reported includes Of the investments in intangible assets, percent financial income, particularly that derived from invest- represent the usufructuary rights to the tangible assets ments in companies in the area of renewable energy of the telecommunications division assigned to the new sources as well as interest-related income and network operator as well as own work capitalised in expenses. connection with software developments undertaken by WienIT and/or third parties.
ANALYSIS OF BUSINESS DEVELOPMENT WIEN ENERGIE ANNUAL REVIEW
The capital investments in tangible assets relate, inter gradual consolidation of the business areas covered by alia, to heat storage facilities and the district heating Wien Energie at the head offices located at the Town- three-pass boiler at Leopoldau, the construction work at Town complex in Vienna’s Third District. The legal inte- the weirs in Göstling/Opponitz as well as citizen solar gration of Fernwärme Wien GmbH in represented a power plants and other photovoltaic installations. In further step in the direction of leveraging synergy addition, there were also capital investments related to effects. the efficiency optimisation of the waste incineration plant at Spittelau, the construction of the district heat- Wien Energie has introduced a performance-oriented ing plant at Arsenal, the further expansion of the dis- remuneration system consisting of negotiated targets, trict heating supply network as well as the construction bonus systems and bonuses for exceptional achieve- of district cooling and heating centres. ments in order to increase motivation and the identifica- tion of personnel with the Company. A market-oriented The investments in financial asserts relate to equity salary scheme ensures fair and performance-based investments and loans associated with hydropower pro- remuneration and simultaneously creates a high degree jects abroad, the research company Seestadt Aspern as of transparency with regard to an employee’s future well as a grant in favour of Ortswärme Oberstaufen which career planning. Employees also have the possibility to was converted into a loan. discover new areas of work in the course of a job rota- tion scheme. Investments in intangible and tangible assets amounted to EUR . million of revenues totalling EUR ,. . Development of business in and million. This is equivalent to a CAPEX ratio of . financial position of Wien Energie GmbH percent. Supplementary to the above developments of the Wien . Personnel Energie division, there follow a series of financial key performance indicators for Wien Energie GmbH relating The average headcount of the Wien Energie division dur- to the financial year. Due to their limited compara- ing the financial year amounted to , full-time bility to those of the short fiscal year ( October to equivalents (FTE). December ), no reference figures are provided here. AVERAGE HEADCOUNT 2013 NOTES TO THE PROFIT AND LOSS ACCOUNT Wage earners 816 OF WIEN ENERGIE GMBH Profit and Loss Account in EUR million 2013 Salaried employees 1,951 Revenues 921.7 Total 2,767 Other own work capitalised 3.7
Other operating income 73.4 The calculation of the average headcount is equivalent to the total number of FTEs at year-end; trainees and Cost of materials and services -607.8 apprentices were not taken into account. Personnel expenses -226.6 Depreciation and amortisation of non-current intangible assets The personnel policy of Wien Energie is based on the and tangible assets -330.0 primary objective of safeguarding the competitiveness Other operating expenses -192.9 and, therefore, the commercial success of the Company. Earnings before interest and tax (EBIT) -358.5 A key element of personnel management is a development concept which offers all personnel a challenging working Financial result 98.0 environment. At the same time, the employees benefit Result on ordinary activities (EBT) -260.6 from an occupationally oriented training programme Profit/loss for the period -260.6 which fosters professional development. The wide range of specialist courses, safety training and seminars in the areas of personal development, team building and Revenues improving working practices was taken advantage of by The revenues of Wien Energie GmbH, amounting to nearly every employee in the Group during the reporting EUR . million, reported for the financial year period. consist primarily of income from the sale of electricity, gas, heat and cooling as well as from waste disposal, In order to tap synergies and ensure the effective design from the area of telecommunications and other services of working processes, the last few years have seen a rendered within the Group.
ANNUAL REVIEW WIEN ENERGIE ANALYSIS OF BUSINESS DEVELOPMENT
Other own work capitalised extraordinary items, the EBT would have amounted to The own work capitalised relates primarily to the waste EUR . million. incineration plant at Spittelau. ADJUSTED EBT OF WIEN ENERGIE GMBH Other operating income in EUR million 2013 This position recognises EUR . million in and EBT as per Profit and Loss Account -260.6 includes, inter alia, income from the provision of person- Impairments of calorific power stations (incl. power drawing rights) 344.7 nel, income from the recognition of building grants and Other extraordinary items -28.1 the reversal of associated provisions as well as income Adjusted EBT 56.1 from the disposal of fixed assets.
Cost of materials and services Annual losses These expenses predominantly relate to costs incurred Taking into account income taxes, the net loss for the through the procurement of gaseous and liquid fuels, period amounts to EUR - . million. expenses for third-party power and heating as well as the expenses charged by Wiener Netze GmbH for access NOTES TO THE BALANCE SHEET OF WIEN ENERGIE to and the use of the district heating primary network. GMBH Moreover, this position also recognises the costs Abridged balance sheet in EUR million 2013 incurred in connection with contracts relating to power Fixed assets 1,629.4 drawing rights. Current assets 286.6 Accrued income and prepayments 124.8 Personnel expenses Total assets 2,040.7 This position recognises wages and salaries as well as Shareholders equity incl. investment grants 383.7 expenses for severance payments, pension fund contri- butions, statutory social expenses and other social Non-current borrowings 1,373.5 expenses. Current borrowings 283.5 Total equity and liabilities 2,040.7 Depreciation and amortisation Amounting to EUR . million, this position recognises BALANCE SHEET KPIS not only scheduled depreciation and amortisation but in % 2013 also impairment charges amounting to EUR . million Equity ratio 18.1 taken mainly against calorific power stations.
Other operating expenses Fixed assets This position recognises in large part the use of system The fixed assets of Wien Energie GmbH consist predom- charge, maintenance and third-party services, advertis- inantly of its own power stations for the generation of ing expenses, legal and consultancy fees, rental and electricity and heat, waste incineration plants, heating leasing expenditures as well as the expenses associated plants, the secondary district heating network with intra-group charges. (including transformer substations), customer facili- ties, cooling centres as well as equity investments and Financial result securities. The financial result of nearly EUR million reported relates predominantly to the payment of dividends by Current assets Wien Energie Vertrieb GmbH & Co KG, investments in This position primarily recognises the heating oil and companies in the area of renewable energy sources as gas supplies stored in power station tanks as well as well as interest-related income and expenses. accounts receivable. The accounts receivable relate foremostly to the provision of heat, receivables for EBT waste and special waste treatment, building grants as For the financial year, Wien Energie GmbH reports well as the provision of other services to Group earnings before tax (EBT) in the amount of EUR - . companies. million. Due to the unfavourable business environment, impairment charges and provisions were respectively Accrued income and prepayments taken and set up with regard to power station facilities The accrued income and prepayments mainly result from (including power drawing rights) amounting to EUR . the differential amounts of provisions for pension fund million. Positive extraordinary items, on the other hand, contributions which have not yet been recognised in amounted to only EUR . million. Excluding these income as well as various short-term accruals.
ANALYSIS OF BUSINESS DEVELOPMENT WIEN ENERGIE ANNUAL REVIEW
Shareholder’s equity including investment grants contribution towards the associated costs in the form of Shareholder’s equity consists predominantly of capital energy-efficiency vouchers or a discount in the Wien stock, retained earnings and investment grants. Energie online shop. This promotional package from Wien Energie helps its customers achieve long-term money Non-current borrowings and energy-related savings. The non-current earnings relate primarily to provisions for personnel expenses, liabilities vis-a-vis affiliated Reliance on cogeneration technology in order to simulta- companies, liabilities related to intra-group loans, liabil- neously produce electricity and heat leads to a signifi- ities to banks and those arising out of building grants. cant reduction in the need for primary energy and
This position also recognises provisions for replace- considerably lower CO emissions. The action planned in ments in connection with facilities leased from the City the areas of renewable energy sources, energy effi- of Vienna and the subsidiary Energiecomfort GmbH. ciency and district heating are aimed at achieving addi- tional savings. Wien Energie also plays an important role
Current borrowings in reducing CO emissions by means of supporting This position recognises, inter alia, liabilities arising out numerous development projects involving natural-gas of cash pooling, intra-group liabilities and accounts pay- powered vehicles and electromobility. Natural-gas-pow- able – trade vis-a-vis third-party companies. ered vehicles are also being increasingly relied upon in the Group’s own vehicle fleet. Through the expansion of . Environment, quality and safety district cooling, the key to energy-efficient air condi- tioning, Wien Energie is also making a significant contri- The principles of sustainability are integrated into, and bution to climate protection. District cooling reduces taken into account in, the development of the corporate electricity consumption relative to decentralised A/C strategy of the Wiener Stadtwerke Group and its subsid- facilities, frees up space in buildings and does not iaries. A key element here is represented by the Group’s require that cooling towers are installed on the roofs of five guiding principles on sustainability in which the buildings. As at November , Wien Energie was oper- underlying objectives are defined in detail. ating refrigeration centres with an installed output of . MW. The sustainability programme, which is updated annually and approved by the Management Board, documents the The declared target of Wien Energie is to significantly objectives and action to be taken by the entire Wiener expand the share of the use of renewable sources of Stadtwerke Group. Clearly structured sustainability man- energy in energy production. The Group has been relying agement ensures that all Group entities are involved in on new business models and citizen participation models the sustainability process. The progress made in terms since . The new offerings are proving very success- of specific action points is evaluated and published ful. Wien Energie’s citizen solar power plants offer cus- every year. tomers the opportunity of investing directly in the use of renewable energy sources and, as a result, accelerate The key environmental aspects addressed by Wiener their proliferation. In early December , the largest Stadtwerke are climate-relevant emissions attributable to ever roof-mounted solar power plant in the inner dis- the production of fossil fuels as well as the direct and tricts of Vienna came online, on the roof of the Wien indirect emissions associated with its own use of electric- Mitte railway station. With a capacity of KWp, this ity, gas, heat and fuels. During the implementation of facility can supply households with solar power. steps to protect the environment, it is vital that the Austria’s largest roof-mounted solar power plant is energy consumption and emissions of Vienna are regarded installed in the municipality of Traiskirchen, where Wien in their entirety. In this context, the Wiener Stadtwerke Energie has been producing environmentally friendly Group makes major contributions by means of energy effi- power since the end of . ciency projects relating not only to its own energy genera- tion and use, but also to that of its customers (mobility, Wien Energie also took another step in the direction of energy efficiency and advice). Further environmental ben- cooperation and direct customer benefits in by efits are achieved by means of continuously expanding the means of its citizen participation models. Together with use of renewable sources of energy. the supermarket chain Spar, a voucher-based model has been developed. Customers invest in the photovoltaic The issue of energy efficiency is particularly important systems installed on the roof of their local Spar super- to Wien Energie. Besides cutting the prices of power and market and receive shopping vouchers in return. This gas, Wien Energie also launched an energy efficiency win-win situation benefits the environment through the offensive in October . When purchasing energy-effi- production of electrical power from solar energy, Spar cient products and services, private customers receive a customers through attractive shopping benefits, and,
ANNUAL REVIEW WIEN ENERGIE ANALYSIS OF BUSINESS DEVELOPMENT
for its part, Wien Energie also supports the expanded lishment of the mobility cluster in . A further key use of renewable energy sources. and internationally recognised research project is SMILE. The aim here is to develop a prototype for a In , Wien Energie divested its investments in estab- public multi-modal, information, booking and ticketing lished and ongoing wind power projects abroad to com- platform (time frame: / - / ). In the mean- panies active in the relevant markets, namely Poland and time, over mobility partners are now working in close Romania. cooperation to establish the organisational, legal and technical preconditions. A broad-based pilot will be Wien Energie has also been active in the gas trading launched in autumn . Parallel to this is also the sector since . ‘e-Mobility on demand – Vienna Model Region’ project funded by the Environment and Energy Fund. This Environmental management systems have been and are involves making e-vehicles and charging station being introduced in order to facilitate operational envi- available at locations where the former can be used for ronmental protection. For example, it was possible to journeys otherwise made using fossil fuels and therefore complete the certification on the basis of ISO and ensure mobility in cases where the use of bicycles, OHSAS of the entire power station site at Simmer- public transport or walking will also not be plausible ing in March . The plan is now to also have this site alternatives for citizens in the future. certified according to EMAS (EU environmental manage- ment system) in . The numerous and varied activities of the FTI Coordina- tion Office, established in , highlight that it is Wien Energie is acutely aware of its responsibility vis-a- increasingly possible to improve the management of vis the inhabitants of Vienna and the surrounding areas. complex innovation issues and to bolster the innovation- Besides sponsoring numerous cultural and sporting friendly atmosphere within the Group. events and institutions, the awareness of its corporate social responsibility also applies to customers in dis- Besides the above projects, Wien Energie is also con- tress. The team at the Wien Energie Ombudsman’s Office ducting research into various close-to-market solutions works together with social services to support custom- in the areas of energy supply, energy efficiency and ers who do not have access to energy supplies on the services. In recent years, the continuous expansion of grounds of poverty. The establishment of a customer power generation from renewable sources, in particular advisory board, which plays an active role in key energy wind power, photovoltaic and hydropower, has grown in supply issues, represents an important step to further importance. improve customer orientation. The safe, secure and sustainable supply of energy is one . Research, technology and innovation of the most important future-oriented questions we face. The research company Aspern Smart City Research In its second year, the FTI Fund of Wiener Stadtwerke & Co KG (ASCR), in which Wien Energie holds nearly was bolstered by EUR . million. The companies of the percent), was founded in July in order to conduct various divisions of Wiener Stadtwerke had all but focussed and practice-oriented research. The remaining exhausted the funds by drawing on these for a range of shareholders are Siemens AG (Austria), Wiener Netze innovative and pioneering projects. These range from GmbH and Wirtschaftsagentur Wien. Over the course of innovative plans in the area of renewable sources of the coming years, this research programme, unique energy to analyses of the usage of public transport within Europe, will investigate the issues of energy effi- based on novel data evaluation methods in order to ciency and CO reductions on the basis of real buildings define planning criteria. in the urban expansion area and the Seestadt Aspern development. The aim is to optimise the use of energy In the context of the WSTW-TU Wien cooperation with and to exactly align energy production, distribution, Technical University of Vienna, the management of storage and consumption. A total of EUR million will Wiener Stadtwerke also established the URBEM doctoral be invested in the period to . college in urban energy and mobility systems in the win- ter semester /. This involves Wiener Stadtwerke In May , work began on the world’s first ever high- supporting PhD students who will be preparing an pressure thermal storage plant on the site of the power energy and mobility strategy for ‘Vienna - Smart City’ by station in Simmering. This facility was commissioned in . . This heat storage facility means that it is possible to separate the timing of the production from that of the The issue of integrated mobility has been an important consumption of heat, thereby reducing reliance on peak- research focus for Wiener Stadtwerke since the estab- load boilers at times of high demand. This makes it pos-
ANALYSIS OF BUSINESS DEVELOPMENT WIEN ENERGIE ANNUAL REVIEW
sible to generate savings of around , tonnes of CO Wien Energie is also an active member of the European per year. technology platform ‘district heating and district cooling DHC+’ which, in turn, is part of the European platform A further focus of Wien Energie is on the issue of elec- ‘renewable district heating RHC’. tromobility. Wien Energie is also working, as a member of the Austrian Mobile Power association and alongside Besides these cooperations, Wien Energie also relies on other Austrian energy providers and leading Austrian an internal improvements and development model. technology companies in the fields of vehicle develop- Employees are actively involved in this process and are ment, system development, infrastructure and research, rewarded for their efforts. on an overall system of electromobility. The declared objective of this association is to make electromobility . Internal control and as user-friendly as possible. risk management system
In the area of district heating and cooling, and in addi- In coordination with the Wiener Stadtwerke Group, Wien tion to the ongoing development of technologies used in Energie has implemented a comprehensive system of risk the power stations, the transformer substations and the management which makes it possible to identify opportu- refrigeration centres to boost efficiency and reduce nities and risks at an early stage. Risks and opportuni- emissions, Wien Energie is also relying increasingly on ties are defined as the possibility of negative and the use of renewable sources of energy. For example, it positive deviations from expected outcomes. is being investigated the extent to which innovative high temperature heat pumps in combination with district In accordance with the internationally recognised princi- heating return pipes as a source of heat can be used in ples of COSO (Committee of Sponsoring Organizations of order to acquire additional customers in areas with bot- the Treadway Commission), the implemented risk manage- tlenecks in the district heating network. The plan is to ment process covers the identification, recording and build a pilot plant of a district heating transformer sub- assessment of the risks faced by all Group companies. station in as part of the District Boost research Adhering to this process ensures that appropriate miti- project (FTI Fund). gation steps can be initiated in order to tackle important risks in good time. In order to conduct an in-depth investigation of thermal solar power, a test facility has been set up to experiment A series of steps were introduced during the period with various solar technologies and test their suitability under review in order to establish a more in-depth for feeding this into the district heating network. The understanding of the key issues covered by the risk main focus here is on the optimisation and the investiga- management system. For example, a risk and opportunity tion of solar yields in the spring and autumn months of review was performed for the first time, which involved a the year. In , a test facility involving photovoltaic comparison of the original assessment of risks and modules and an air heating pump was expanded and a opportunities in recent years with the actual outcomes. comparison of photovoltaic and thermal solar power was The findings of this process are now being integrated performed (FTI Fund). Further steps will be taken in into the further development of the risk management as the basis for investigating additional optimisation system. options relying on system control strategies. In addition, the discussion and coordination of the most Wien Energie is also playing an active role in the discus- important opportunities and risks was included in the sion processes and projects related to the issues of annual business planning meeting of every Group sub- future energy systems, urban energy, smart cities and sidiary in order to be able to discuss, based on a holistic optimised system integration of decentralised sources of view, which opportunities and risks can be anticipated in energy and energy storage facilities. the coming years and which, as a result, need to be sub- jected to close monitoring. In the course of its ongoing research activities, Wien Energie is also involved in two projects funded by the A risk controller function, established at every Group Environment and Energy Fund: Next Generation Heat subsidiary, is responsible for ensuring compliance with (low-temperature district heating based on various the defined risk management process. This position regions in Austria with low density heating requirements) reports regularly and directly to the relevant general and Urban Cascade (optimising energy cascades in urban manager. energy systems in order to maximise overall system effi- ciency and the proportion of energy from renewable The risk landscape of Wien Energie is broken down into sources). six risk groups, presented below:
ANNUAL REVIEW WIEN ENERGIE ANALYSIS OF BUSINESS DEVELOPMENT
Technical risks nies aimed at monitoring and controlling the efficacy and Technical risks include damage to all plant and efficiency of commercial operations, the reliability of equipment forming part of the power generation and financial reporting and compliance with the legal distribution infrastructure. These operational and sys- requirements relevant to the Group. tem failure risks are addressed by Wien Energie by means of detailed schedules for maintenance and quality Wiener Stadtwerke has extensive documentation of the control testing in addition to regular maintenance and ICS-relevant rules and processes evaluated by the con- investment programmes. In addition, risks are minimised sultancy firm Ernst & Young. In its findings report, Ernst by means of appropriate insurance policies. & Young established that Wien Energie documents its ICS in a way which is appropriate for a company of its Price-related risks in terms of primary energy size and complexity. The few areas for potential and electricity improvement identified in the report have been the The impacts of volatility in oil, gas and electricity prices focus of ameliorative action. are countered by Wien Energie, in the interests of pro- fessional risk management, by means of appropriate The entire ICS documentation system now serves as a hedging transactions such as derivative financial instru- basis for ICS internal auditing activities. The aims here ments traded on buying and selling markets. Forwards, are to ensure that the ICS remains effective, on the one futures and swaps are used for these purposes. The hand, and to continuously develop the instruments used development of financial instruments over time is largely on the basis of the audit results, on the other. dependent on developments in the relevant commodities markets. At . . , no risks were identifiable which, either independently or in combination with other factors, Weather risk could represent a risk or risks to the future existence of Weather risk management assesses the financial impact Wien Energie. of lower district heating sales due to unseasonably warm weather. Fluctuations in seasonal temperatures lead to . Outlook higher or lower sales volumes in the heat and gas divisions and therefore have significant influences on The European energy market is currently in a state of earnings. radical change. One of the main reasons for this is the extent to which coal-fired and nuclear power stations Default risk of receivables are being subsidised in the production of electricity and The risks of customers defaulting on amounts owed are heat as well as the use of renewable sources of energy mitigated by means of constantly monitoring outstanding throughout Europe. As a result, prices on electricity amounts and associated dunning procedures. exchanges have been falling for years. At the same time, the price of natural gas, converted into electricity and Country risk heat in highly efficient cogeneration facilities, has been Wien Energie is involved in several foreign projects (in rising continuously and has currently stabilised at a high selected energy segments). Appropriate internal guide- level. lines have been put into place which, in combination with a firm commitment to good corporate governance, ensure The financial year is again expected to be charac- that the associated risks are regularly monitored. Any terised by low or negative margins between the costs of possible currency-related effects are countered by using primary energy and electricity trading prices. means of the close monitoring of foreign exchange and Due to this dynamic environment, forecasts for are financial markets. marked by a high degree of uncertainty.
Investment risk In order to be able to master the challenges described A Group-wide treasury system is in place to monitor the above and in addition to the efficiency programme development of these investments over time. This system started at the Wiener Stadtwerke Group back in May employs appropriate risk analysis concepts such as , the Megawatt programme has also been launched. value-at-risk, allows suitable action to be taken in good The aim of this new programme is to optimise processes time, and also provides a basis for regular reports to and reduce the costs of materials. Solutions are also Management. being worked on in order to more efficiently deploy human resources. The idea here is to create a Group- Internal Control System (ICS) internal job market and to promote internal personnel At Wiener Stadtwerke and Wien Energie, ICS refers to all development even more than has been the case in the action and processes implemented at all Group compa- past.
ANALYSIS OF BUSINESS DEVELOPMENT WIEN ENERGIE ANNUAL REVIEW
Investments in production facilities and infrastructure are continuing in order to ensure the existing high level of security of supply. The main focus in the finan- cial year will be on the expansion of production capacity of facilities relying on renewable energy sources such as citizen solar power plants and additional photovoltaic projects, wind farms and hydropower stations. In the area of production, the focus will also be on the energy- efficient optimisation of the waste incineration plant at Spittelau and on the construction of the new district heating facility at Arsenal.
Yet another focus area will be that of decentralised production, as was already the case in . New and innovative products in the area of decentralised energy production and solutions for facilities owned by Wien Energie customers will also remain in focus.
With regard to district heating sales, we expect to see gains as a result of new customer connections and an increase in market shares. Due to the change in terms of the realities prevailing in the energy market and as a result of the already dense market coverage, this growth is not expected to be on a par with that achieved in recent periods.
We will forge ahead with the expansion of the infrastruc- ture for electromobility and in the telecommunications sector, with the main investments being in the areas of telephone services, the Wiener Bildungsnetz and dark fibre. The expansion of the passive components in the case of dark fibre is being undertaken by the sister company Wiener Netze GmbH.
The well balanced customer base of Wien Energie in the Greater Vienna Metropolitan Area, as its home and growth market, and the high degree of customer satisfaction remain the key success factors which need to be safeguarded in the years ahead.
. Events after the balance sheet date
No events of any note are known to have occurred since the balance sheet date which would have had a material impact on the asset, financial or earnings positions detailed in these financial statements.
Vienna, March
General Management Robert Grüneis Thomas Irschik Susanna Zapreva
ANNUAL REVIEW WIEN ENERGIE INVESTMENTS
Investments
FULLY CONSOLIDATED COMPANIES Wien Energie Wien Energie Interest in % GmbH Division
1. Wien Energie GmbH, Thomas-Klestil-Platz 14, 1030 Vienna 100.00 100.00
2. Energiecomfort Energie- und Gebäudemanagement GmbH, Thomas-Klestil-Platz 15, 1030 Vienna 100.00 100.00
3. Wien Energie Bundesforste Biomasse Kraftwerk GmbH, 1. Haidequerstraße 1, 1110 Vienna 66.66 66.66
4. Wien Energie Bundesforste Biomasse Kraftwerk GmbH & Co KG, 1. Haidequerstraße 1, 1110 Vienna 66.66 66.66
5. Windnet Windkraftanlagenbetriebs-GmbH, Thomas-Klestil-Platz 14, 1030 Vienna 100.00 100.00
6. Windnet Windkraftanlagenbetriebs-GmbH & Co KG, Thomas-Klestil-Platz 14, 1030 Vienna 100.00 100.00
7. Vienna Energy Természeti Erö KFT, Andrássy út. 100, 1062 Budapest, Hungary 100.00 100.00
COMPANIES CONSOLIDATED UNDER THE EQUITY METHOD Wien Energie Wien Energie Interest in % GmbH Division
1. e&i EDV Dienstleistungsgesellschaft m.b.H., Thomas-Klestil-Platz 6, 1030 Vienna 50.00 50.00
2. e&t Energie Handelsgesellschaft m.b.H., Wienerbergstraße 11, 1100 Vienna 45.00 45.00
3. EPZ Energieprojekt Zurndorf GmbH, Kasernenstraße 9, 7000 Eisenstadt 42.40 42.40
4. Kraftwerk Nußdorf Errichtungs- und Betriebs GmbH & Co KG, Am Hof 6a, 1010 Vienna 33.33 33.33
5. EconGas GmbH, Donau-City-Straße 11, 1220 Vienna 16.51 16.51
PROPORTIONALLY CONSOLIDATED COMPANIES Wien Energie Wien Energie Interest in % GmbH Division
1. WIEN ENERGIE Vertrieb GmbH & Co KG, Thomas-Klestil-Platz 14, 1030 Vienna 100.00 100.00
2. ENERGIEALLIANZ Austria GmbH, Wienerbergstraße 11, 1100 Vienna 45.00 45.00
3. PAMA-GOLS Windkraftanlagenbetriebs GmbH & Co KG, Kasernenstraße 9, 7000 Eisenstadt 50.00 50.00
COMPANIES NOT INCLUDED IN THE SCOPE OF FULL CONSOLIDATION Wien Energie Wien Energie Interest in % GmbH Division
1. Wienstrom Naturkraft GmbH, Thomas-Klestil-Platz 14, 1030 Vienna 100.00 100.00
2. Wienstrom Naturkraft GmbH & Co KG, Thomas-Klestil-Platz 14, 1030 Vienna 100.00 100.00
3. SERVISKOMFORT s.r.o., Volgogradska 88, Prešov 080 01, Slovakia 0.00 100.00
4. MHC Calinesti Rau S.R.L., Street Sf. Vineri, no.29, Bectro Center, 030203 Bucharest, Romania 100.00 100.00
5. Hauscomfort GmbH, Thomas-Klestil-Platz 15, 1030 Vienna 0.00 100.00
6. Energiecomfort Hungary Energetik, Régi Vámház tér 12, 9200 Mosonmagyarovar, Hungary 0.00 100.00
7. Vienna Energy Forta Naturala S.R.L., Street Sf. Vineri, no.29, Bectro Center, 030203 Bucharest, Romania 100.00 100.00
8. Geothermiezentrum Aspern GmbH, Spittelauer Lände 45, 1090 Vienna 100.00 100.00
9. Spravbytkomfort a.s., Volgogradská 88, Prešov 080 01, Slovakia 0.00 55.00
10. WIEN ENERGIE Bernegger Wasserspeicherkraftwerk Pfaffenboden GmbH, Gradau 15, 4591 Molln 100.00 100.00
INVESTMENTS WIEN ENERGIE ANNUAL REVIEW
COMPANIES NOT CONSOLIDATED UNDER THE EQUITY METHOD Wien Energie Wien Energie Interest in % GmbH Division
1. Köszegi Távhözolgáltató Korlátolt Felelösségü Társaság, 9730 Köszeg, Deak Ferenc u.2., Hungary 0.00 50.00
2. Ortswärme Seefeld GmbH, Rosshütte 865, 6100 Seefeld 0.00 50.00
3. Polska Sila Wiatru SP.z.o.o., ul. Sienna 73, 00-833 Warsaw, Poland 50.00 50.00
4. PAMA-GOLS Windkraftanlagenbetriebs GmbH, Kasernenstraße 9, 7000 Eisenstadt 50.00 50.00
5. TT Komfort s.r.o., Frantiskanska 16, 917 32 Trnava, Slovakia 0.00 50.00
6. Ortswärme Oberstaufen GmbH, Schloßstraße 8, D-87534 Oberstaufen, Germany 0.00 50.00
7. Ortswärme Oberstaufen GmbH & Co KG, Schloßstraße 8, D-87534 Oberstaufen, Germany 0.00 50.00
8. Energy Eastern Europe Hydro Power GmbH, Hans-Klöpfer-Straße 28-30, 8750 Judenburg 49.00 49.00
9. Bytkomfort s.r.o., SNP 9, 94060 Nové Zamky, Slovakia 0.00 49.00
10. Kraftwerk Nußdorf Errichtungs- und Betriebs GmbH, Am Hof 6a, 1010 Vienna 33.33 33.33
11. Ortswärme Tannheim GmbH, Unterhöfen 18, 6675 Tannheim 0.00 24.86
12. Ortswärme Grän GmbH, Dorfstraße 1, 6673 Grän 0.00 24.86
13. Procomfort GmbH, Salurner Straße 11, 6020 Innsbruck 0.00 50.00
14. EVN-WIEN ENERGIE Windparkentwicklungs- und Betriebs GmbH, Thomas-Klestil-Platz 14, 1030 Vienna 50.00 50.00
15. EVN-WIEN ENERGIE Windparkentwicklungs- und Betriebs GmbH & Co KG, Thomas-Klestil-Platz 14, 1030 Vienna 50.00 50.00
16. Aspern Smart City Research GmbH, Thomas-Klestil-Platz 14, 1030 Vienna 29.95 29.95
17. Aspern Smart City Research GmbH & Co KG, Thomas-Klestil-Platz 14, 1030 Vienna 29.95 29.95
ANNUAL REVIEW WIEN ENERGIE MANAGEMENT AND EXECUTIVE BODIES
Management and Executive Bodies
Wien Energie
ROBERT GRÜNEIS THOMAS IRSCHIK SUSANNA ZAPREVA General Manager General Manager General Manager
Thomas-Klestil-Platz 14 A-1030 Vienna, Austria Telephone: +43 (0)1 4004-0
Wien Energie Sales
Thomas-Klestil-Platz 14 A-1030 Vienna, Austria WOLFGANG ALTMANN CHRISTIAN WOJTA Telephone: +43 (0)1 977 00-0 General Manager General Manager
Wien Energie Energiecomfort
Thomas-Klestil-Platz 15 A-1030 Vienna, Austria MANFRED BLÖCH MARTINA JOCHMANN Telephone: +43 (0)1 313 170 General Manager General Manager
MANAGEMENT AND EXECUTIVE BODIES WIEN ENERGIE ANNUAL REVIEW
Executive Bodies
Members of the Board of Management of Wien Energie GmbH ROBERT GRÜNEIS THOMAS IRSCHIK SUSANNA ZAPREVA
Members of the Supervisory Board Chairman MARC H. HALL Wiener Stadtwerke Holding AG
st Deputy Chairman CEO MARTIN KRAJCSIR Wiener Stadtwerke Holding AG
nd Deputy Chairman General Director ROBERT LASSHOFER Wiener Städtische Allgemeine Versicherung AG, Vienna Insurance Group
Members STEPHAN AUER-STÜGER City of Vienna HEIDRUN MAIER-DE KRUIJFF VÖWG ALENA SIRKA-BRED Municipal Department (MA ), Data Protection and E-Government
Employee representatives BERNHARD BINDER Wien Energie GmbH ROLAND BOIGNER Wien Energie GmbH HEINZ KOLLINGER Wien Energie GmbH
Shareholder structure Wien Energie GmbH is a wholly owned subsidiary of Wiener Stadtwerke Holding AG, and is therefore owned by the City of Vienna. Furthermore, Wien Energie is subject to audits performed by the Group’s Internal Audit Department, the Audit Division of the City of Vienna and by the Board of Audit.
ANNUAL REVIEW WIEN ENERGIE GLOSSARY
Glossary
Technical and industry-specific terms
Barrel (abbr. bbl.) CO (carbon dioxide) Emission certificates
Term for a measure of CO2 emissions caused Instruments introduced as volume used in the oil by humans are generally part of the Kyoto targets industry. It corresponds to released when fuels such that globally regulate emis- around 159 litres. as coal, oil and natural sions of greenhouse gases gas, as well as renewable in defined volumes. On Biomass sources of energy such the basis of this system, All carbon-based sub- as biogas, wood or rape- companies receive (ap-
stances present in an seed, are burned. CO2 from proved) limits for the emis- ecosystem, consisting of non-renewable resources is sion of specified amounts living, dead or decayed harmful to the environment, of greenhouse gases. In organisms and their as it increases the concen- the event that they fail to
excrement. tration of CO2 in the atmos- remain within these limits, phere and thus contributes the companies in CAPEX ratio to the greenhouse effect. question can purchase
The CAPEX ratio is an CO2 is a greenhouse gas additional emission rights indicator of the propensity (certificates). of a company to invest, i.e. District cooling the percentage of turnover This refers to supplying Equity ratio invested in tangible and buildings with refrigerated The ratio of shareholders’ intangible assets. air for air conditioning equity to total assets. purposes. The necessary Combined heat and power refrigeration (cold) is Fuel efficiency ratio (CHP, co-generation) either generated at a re- This ratio defines the By producing electricity frigeration centre and then percentage of the fuel and heat at the same time delivered to consumers via burned which is actually – co-generation – fuels well insulated district cool- converted into electricity, can be used as efficiently ing networks. process heat and district as possible (fuel utilisa- heating. The fuel efficiency tion). This is because a District heating ratio is therefore always large proportion of primary Description for supply- equal to or higher than the energy used is unavoidably ing heat to buildings for electrical efficiency ratio converted into heat when heating and hot water. The and serves as a benchmark electricity is produced in thermal energy is trans- for the efficiency of power power plants using gas, ported via a system of stations which also gener- coal or oil (and nuclear heat-insulated pipes. ate heat through cogenera- power plants). This heat is tion. used in combined heat and EBIT power plants to produce Earnings before interest Gas and steam turbine district heating. and tax. plant (CCGT) A type of power plant that Condensation operation Electrical efficiency ratio combines gas and steam An operating state of pow- This ratio expresses the turbine processes to pro- er plants in which solely electrical energy (power) duce energy. electricity is generated – generated from the energy no heat is extracted. latent in the primary energy Power drawing rights source used (e.g. natural Power drawing rights enti- gas). It is therefore an tle the holder access to an indicator of the efficiency agreed volume of electrical of power stations. energy.
GLOSSARY WIEN ENERGIE ANNUAL REVIEW
Primary energy Thermal (calorific) The term primary energy power plant refers to naturally occur- A thermal power plant con- ring forms and sources of verts heat – thermal energy energy which, in contrast to – into electrical energy. The secondary energy, can be heat is created by burning released without conversion. natural gas, for example, Besides fossil fuels such as and is first turned into use- natural gas, oil, brown and ful kinetic energy before be- hard coal, these also in- ing converted into electrical clude renewable sources of energy by a generator. energy such as solar energy, geothermal energy, wind Total heating degree days and hydro power as well as The total heating degree biomass. days in a specific period of time. A heating degree Refrigeration centres day is calculated by taking The necessary refrigeration the temperature difference (cold) is generated at a re- between the average daily frigeration centre and then outside temperature of a delivered to consumers via heating day and a specific well insulated district cool- indoor temperature. ing networks. In absorption refrigeration machines, heat is used instead of electric- ity to produce cold air.
Renewable Energy Sources Contrary to fossil and nuclear fuels, renewable en- ergy sources are inexhaust- ible sources of energy that are regarded as climate and environmentally sustainable since their utilisation is associated with low environ- mental burdens.
Spot market Markets for trading in the short term and in which delivery, receipt and pay- ment are performed immedi- ately after transactions are concluded.
Steam-fired power plant A power plant that relies on energy in the form of steam to generate electricity.
ANNUAL REVIEW WIEN ENERGIE IMPRINT
Imprint
Published by Wien Energie GmbH Thomas-Klestil-Platz A- Vienna, Austria Tel.: + ( ) - Fax: + ( ) - offi[email protected] www.wienenergie.at
Typesetting and printing Druckerei Lischkar, Vienna Printed on environmentally friendly office paper from the ÖkoKauf Wien sample folder.
Concept, consulting, text and implementation Mensalia Unternehmensberatung www.mensalia.at
Translation Anglo-Austrian Communications www.aac.co.at
Images: Wien Energie, Wiener Stadtwerke, Ian Ehm, Christian Houdek, Christian Hofer, Ludwig Schedl, Klaus Vyhnalek, Martin Stickler, Martin Lusser, Agentur Diener, MirAlf media and ÖBB
For details regarding the Annual Report Christian Ammer Spokesman Tel.: + ( ) - [email protected]
Ilona Matusch Corporate Communication Tel.: + ( ) - [email protected]
Wien Energie has taken the greatest possible degree of care while preparing this report and the data contained within. Despite this, certain rounding differences, transcription, typesetting or printing For any error may have occurred. questions relating to the issue of This Report is an unofficial translation of electricity, natural gas, district the German original and is provided for heating or district cooling, please information purposes only. call the freephone number Print deadline: March (Mon. to Fri. from : to : ) Fax:
[email protected] www.wienenergie.at
POWERING THE FUTURE
Wien Energie Annual Review 2013 Wien Energie Annual Review 2013 Wien Energie
Wien Energie Thomas-Klestil-Platz 14 1030 Vienna
Tel: 0800 500 800 Mon. – Fri. 07:30 to 18:00 www.wienenergie.at Wien Energie, a partner of EnergieAllianz Austria.