Swiss energy group Alpiq has published its 2016 results, posting a 9.5% decrease in revenues (to CHF6,078m, i.e. €5,671m) due to a lower generation (unscheduled downtime at the Leibstadt nuclear power plant) and to low wholesale prices (Alpiq secures its energy production on a rolling basis).
Total power generation dipped by 6.9% in 2016, from 17.8 TWh to 16.6 TWh in 2016 (38% hydropower, 32% conventional thermal power, 27% nuclear power and 3% renewable power). At year-end 2016, the company had an installed capacity of 5,940 MW, including 3,488 MW in Switzerland (2;677 MW of hydropower, 16 MW of renewables and 795 MW of nuclear). The process to open up to 49 % of the hydropower portfolio is not complete. Alpiq will not conclude the transaction unless all three criteria – price, contractual conditions and transaction security – have been fulfilled.
In 2016, Alpiq continued to dispose of non-strategic assets, selling shares in AEK Energie, Romande Energie Commerce, Alpiq Versorgungs and Swissgrid, among others. The funds resulting from these disposals have reduced net debt from CHF1.3bn to CHF0.86bn (from €1.21bn to €803m) as at the end of 2016.
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