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Romande Energie - 2024 half-year results - Presentation to analysts
Christian Petit & Nicolas Conne, Resp: Directeur Général & Directeur Financier
Thursday, Sept. 5, 2024 · 10:30 a.m. · 43m 12s
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the disenchantment i would like to welcome you to this investors conference life from mount
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more should i would like to welcome our guests who are in geneva zurich or elsewhere
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as every half the time with you today with me collect call on our c. f. o. m. m.
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we have funny looking are in charge of cash flow and curling
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marlow in charge of communication are already you get to receive your questions
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in uh english french or german we will be pleased to answer them out on this illustration
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you can see this a mountain torrent may be in the
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food shortly i was fortunate enough to be able to inaugurate
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a new small scale hydroelectric power station
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for remote uh initiated already power station
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which can be seen here it will produce seven cheek about hours of renewable hydroelectric
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power which is equal to the consumption of three thousand five hundred households is the second
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such power station that i've inaugurated to this uh uh
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some uh uh you integrated wanting cleaver previously was the
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fourth one through my term of office so you can see that our plan is continuing i'll stretch is continuing
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and we're adding come suitable quantities of energy we're
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talking now about uh twenty joke about how was
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as you will have read in our media release
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today's meeting is characterised by a
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special economic situation with of course
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the situation this year which is particularly low in terms of results
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we had already announced this it's not a surprise and here we have to distinguish between two factors
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first of all the short term that we're in now
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twenty twenty three twenty twenty four results optically ha last year
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but the results this you're likely to be very low particularly low if you to the average
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you will find the moralist the level of profitability of the previous use you really have to um
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take these two results to get the room to compare them with one another will explain to
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you the factors which are having an impact on this use results as we did last year
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when the results were particularly high what's politically high for us is the long term and that means our strategy
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as regards the long term we optimistic about the implementation of our strategy
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at the end of the meeting i'm going to announce to you some new
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a minor changes to this strategy of strategy shows us that we are
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emphasising development and to investment in renewable energies
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and these uh to be seen enough a verbal
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context which is the explosion of renewable energy is
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forms of energy and the electrification of society but also in the
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context of noodles which will be more in favour of a lot operations
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oh now give the floor to our c. f. o. because ah kong
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who's going to be telling you something about uh this first
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off your and the changes in the marketing regulated convention question
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when she was out is changing and these changes at a in place it in
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recent months first of all into the marking dishes as you can see on the screen
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you can see the that's what pricing within a is and you can see straight
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away that three phases which are completely different from each other well first of all
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before twenty twenty to market prices you can see the detail april may twenty twenty
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prices didn't really very much and it is very rare they
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were negative and we all with that we experience the energy crises
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in twenty twenty two twenty three which gave wild
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swings in prices read everything before it extremely spectral situation
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it was due to the geopolitical right right you practical reasons like ukraine we need to remember
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about the risk to hang on every nuclear power in france at that time as well i didn't freeze
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prices started to ease in me twenty twenty three
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about change things are different from that time on what's
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we can see if lisa sports part shine the
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spotlight sniper my penchant for price volatility was much higher
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this is due to climate conditions uh to crack the climate
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change and also and also i um i'll run poppins solar power
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which we hadn't which rinsing before which which code it says
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in the great which trick which created extremely high volatility in prices
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if markets are changing regulations are changing it's well we've seen recently
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is different initiatives in federal circles weekend this that express wind express
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which were designed to speed up development of these infrastructure
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was this in in the continental uh for different changes
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the new law new of all uh energy act which is committing in twenty twenty
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five we hope which will give what speed up the renovation of the house in stock
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but then then highlight is the referendum in june which
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which which told us that they let the end latency
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act will come in and what kind of step by step in twenty twenty five and twenty twenty six a window
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please don't see what the ordinance is it gonna be like what we can tell you
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straight away some hard facts which we're having a hard a significant impact on how much energy
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the first is the average price it's gonna be scrapped
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this is where we combine purchases from regulated and
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illegible customers to determine price this method is very
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negative and it will be scratch anyone have any more facts on our figures in twenty twenty six
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we also have to start harrison twenty twenty five a couple days ago on monday
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one new point is that we can switch jerk off core quarterly
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basis for feeding terrorists for people producing solar energy we can also mentioned
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the l. b. o.s so local energy could be ditties which would be introduced which combines
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combining bridges and to see my within the
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same community these are already known facts one thing
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one keep aspect of the law isn't ratified is how old market resellers look at will
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be treated only have surplus energy and we need to get rid of it on the market
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either how the loss at the moment the loss all the profit for
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market results cannot be taken to can only determine future terrorists another element
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get concerning ooh the federal council to talk for a in consultation and new and
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a lot about the back about the greats and so that's it out i've uh how
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how the whack would will of all for grades that could that could decline in the future
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the first six months of the year
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well i'm locked by uh some success stories
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as well their achievements what via group but also
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we'll uh we'll we face chan is in terms of financial results if we start
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with a achievements if we look at on the day she service
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and we said we said in during the four year without presentation and the company has been formed id go management
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which started trading on the first generate twenty twenty four and
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it is a company which provides renovation ended your haitians services for a it's a full service company
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which helps uh i i would is of buildings or profile is a buildings that have them to riches
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the cop an output of these buildings 'cause we know this is one of the main source is of
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a nice was the vanilla of federation competition twenty five percent
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nationwide questions already talked about energy situations and talked about the
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the hydro plants which of inaugurated i won't talk about that now but this
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was a um a flagship product which which started at the beginning of the year
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and this and this was done with the company in a colour
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and it's a wonderful it's a second our economy and action
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because it's a it's a gram place silo plant which is going to produce electricity
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and use electrolysis it's good up to produce hydrogen which
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should be used on site in the upright production process
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so they can see the convergence of different uh different fluid flow is big hearted on one side
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and that it just younger than we hope they'll be more products products like
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this in the future and looking at grades you can see a smart meta
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this is where we're rolling out this quick place fifty seven percent of ponds mandated of it is stored
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this is in line without talking to cover eighty percent by
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the under twenty twenty five thirty two years ahead of schedule
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and what was so we've always say been able to uh take of of the the
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business of that have another t. s. i. or the force but it's a fun song
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and so we've taken on about twenty employees from them as part of that agreement i said looking at an
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anxious the from challenges as we said it was expected
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that out after a a very strong twenty twenty three
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to to catch up affects in energy margin as i also because we've
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had a land cell which guy with what twenty twenty four was expected
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to be a and typically low the and a result why
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did that happen as you saw few slides back market prices
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then dropped have at least a handy so this volatility
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which has increased significantly these different impacts had
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a direct impact on the energy ma chain
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all shape i shave it later on but the main fact is is is a plus energy
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this this excess energy which we have to take on as as a d. s. so
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which might even select solo but we had to had to be sold on the market is
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and in the current context in this bear market space without a loss
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and this volatility i spoke about oh say a cost costs are high pellets empower
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a a cost as well where so there's negative side but is also strong supple
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from a a lesson how big i think twenty twenty three which gives a
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perhaps a net profit uh how top twenty twenty four is slack time out from
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in a long view of a strategy that question patty's at about within the
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first six months will continue the regulatory impact will continue in seconds expensive the yeah
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that's why we don't expect any mature impact or maybe
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in the second half the yeah i also this positive momentum
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is expected in twenty twenty five and especially since twenty twenty six
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as the regulatory impacts lesson like such as the average price method home or says the
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initial pack back on our investment strategy an
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outcry strategy which we started in twenty twenty one
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so here and the slide is the main figures the men katie eyes of the group in the first six months of the year
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first of all we've decided to show you
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show you two years of comprising which is not we normally do as i said before
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twenty twenty three with a with a is the unusually strong twenty twenty four hours and usually week
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so it's important to say have a long view for the for the for the uh figures
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i'm what what we need to do is like it's it's the the average of twenty twenty three ten twenty four am we get
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similar figures to twenty twenty to so if i start on the
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left hand side in terms of every near the rev us less
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that we was find the impacts the uh the things that helped her
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and energy margin lacked market resell span it's empower both say the pricing policy
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and those uh the fourth fourth phase angle them all uh oh so destructive for twenty six million in ab
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it impact with evans higher because at the same time
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and energy purchases didn't declined the same proportions and in addition
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there was also a temper yeah phenomenon which happens is yeah cheery to
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to to to bring it back in house our customer service centre which is but i mean this is once
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that's more than fifty employees of compacted into the grape
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but that was so which uses other operating expenses because
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because we've these so this is a bit in duty twenty million
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which is a lot less than it was in twenty twenty three
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but similar to twenty twenty to profitability was five percent which is less than the last time
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but usually we normally around seventy at seven or eight percent intense operating margin
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if i a move to the right hand side and i can
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talk about half a and a l. s. because these two companies
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thirty is the uh put a positive note re profit for
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us is important to say in terms of a pocket just then
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and it is to to do with the revised uh accounting standard and
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it's f. e. r. thirty this new standard requires
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restating every county in accounts uh of all companies
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to use to to ensure that they are comply with f.
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e. r. with his cap so so twenty twenty three was adjusted
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i'm certain to just do i have r. s. and then look out pick
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i had three well i'll pick cats the for browsing forty million over the
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for six months and i mean in for my us over the first six months in a safety thing come
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so that brings us to net profit of fifty sixty six million
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which is say sixty percent that margin into looking at bases unit s. f. two main messages
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the first is stupidity which we can say in terms of grades and roman energy services
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this is a very it's a very low lie reductions this
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is not material in this for six months and of the
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we can then say how energy smart janus
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hey energy situations we start talking about that first
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revenue is is linked to energy margin out a a bit more in the next two slides
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we can also point out the other pay less which are the poor the other
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pillars that yeah the pillars of of the investment like fronts and district taking a
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developing the anarchists because that went out for one million to uh to to five
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million interface expensive the air from france eating i worked in silence and forethought phase last
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these with hit that was hit by different situation is this last expensive the yeah
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it was a again six months ago from mark uh income
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from the winter story system but that didn't happen this year
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and another thing was the narrowing gap between the
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beacon place like a beacon by slave prices look integrates
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the main thing is the core a corollary between
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the wreckage eerie constraints in terms of the energy margin
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basically the average price which also impacts the cost of cost of network
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great losses network that was three million less the other factor in material
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and i'll and offset what offset by higher whack
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and the look underwent energy services
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we had a small drop in revenues but that's because
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because the straight lightning with shifted into the great basis unit that was all significant
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oh so but whatever is that we're very happy the backlog is fall and is even growing thanks to
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activities in in in property renovations three id go
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with a in short profitability is still around three percent
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so if we look for us if we shot a spotlight on the energy margin to understand how
00:18:07
this had had it has contract to turn twenty six thirty six
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in last year to three million uh this yeah for six months
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you can see the in pink you can see market
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race else this is due to high uh solar feeding
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the second i which is linked to the situation is the cost a balance in power
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when finally the the sun up is all goes it goes in a both expected
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that creates a difference in terms of the energy arriving in the great and that gives
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rise to that gives rise the cost for the adults empower costs which are much higher
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uh this time around five million or a third factor is
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a pricing policy which we can cut into two things first
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first is a wreck it it's a um the regular constraint it's a
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drop of is the reduction in both arise margin on the get all talent
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the other factor is four million is the choice that we
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made in out in twenty twenty four terroristic at the price
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of the energy compose an to offset the higher at great
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usage face but there's something which can see on this slide
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it's an impact of the of the average price i i basically half costs it's
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we cost using the purchases of regulated eligible
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pricing which gives us prices prices same everybody
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and it doesn't change very much it's about it
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was fifteen million last yeah and fifty million this year
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um but thankfully there they'll be changes in regulations which will cancel cancel design twenty twenty six
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one slide which ought to try and explain to you how this works
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what makes life difficult fly my psychical for thin manage an energy starts on the left
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you can see this job which i was in a
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like grey the main the first component of up supply
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which is the this the purchases we bought we
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buy for three or four years before delivery sometime
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you can go from the first it can it can be coffee elegantly quarterly
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and it can be monthly we fine tune the same we buy inch would buy this energy forward
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based on a forecast for consumption and also the generation from our installations which is a point you can see in turquoise
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so what we can say here on on the left hand side between january and march
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we can see that could that consumption as i'd buy the black line is lower than what we expected but i don't
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know the reason for that was with with them out when
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to say last amount but then we also had a rainy winter
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which gave this to an excess for generation of our own
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generates the facilities and that's why side and the the black line
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and if i look at to the right of the same chart we can say
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we can see so and uh i production which is in yellow
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and the rapid prices in recent months it means that
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we have a we we i end up with excess energy
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which is much higher than forecast in bases situations this energy has
00:21:33
to be without on to the market in reality we resell the
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grey blocks to simplify the explanation so what we what we bought
00:21:42
in twenty twenty three or twenty twenty three a doing the crises
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like that's accounts for the the losses 'cause has to be without if we say
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if we look at the solar again we can pass basically say
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that's we don't need to buy the long term energy and then we will be
00:22:01
placed to that amount from our customers but in reality the situation we can say
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this is shown this is this is type i'd die on this chart if we'll stuff on the right hand side
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and look at us either production in june twenty twenty four we
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can see that side elaborate generation is not linear but as peaks
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it takes to between between one and three p. m. in in the afternoon depend on sun
00:22:28
sunshine so the the what we can say hey can very well out later in the day
00:22:34
so we need to be like we need to be like a weather forecast it understand what's going on
00:22:39
but everyone has the same weather forecasts when there are
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no no we can i just opposition we can resell positions
00:22:47
if everyone sells uh at the same time then replace the
00:22:51
losses but there's also the effective better conditions on this given die
00:22:56
i imagine those cloud cover and some little the southern the the send
00:23:01
us an appears and then we end up with too much sites tyler
00:23:05
you can see the chart on the low on uh on the right
00:23:08
you can see the price of the palace empower the the has and um
00:23:13
and then the greatest isolates the same and you can see the volatility
00:23:17
of these ballots in power prices in the first six months of the year
00:23:22
going from minus fifteen thousand up to up to plus fifteen thousand
00:23:27
that means what it means with buying what is too expensive and the setting
00:23:30
into a negative prices some buttons in power so that's the caucus flight now
00:23:37
uh what spent too much time on this but i just want to say
00:23:41
that cash flow from operations is hit by the same variations as i'll be
00:23:46
an hour because the smoke market sells the pricing policy and its energy costs
00:23:53
this this really sticker cough cash outlays and it's
00:23:58
it's uh it is our impact our profitability temporarily secondly in terms of cap ex
00:24:05
okay well we're but where they were picked the lights this yeah
00:24:10
we need to know i this at this point last yeah we invest is difficult me for example
00:24:16
to finalise isn't probably in farm and or say the high dropout promise christian mentioned are just now
00:24:23
so but you don't have the same it kept text this year the but we need to be confident because the pipeline
00:24:30
whether it's distracting eating or other uh areas is still strong
00:24:35
another element which we how sweet it give for the transition will say
00:24:41
we also made it is contractually green lion which is
00:24:46
a news source of financing which enables us to diversify financing
00:24:51
which is part of the green finance framework which we establish only issued a cream bond two years ago
00:24:57
this is a new fashion i investments might be lacking but we are still significant investing
00:25:02
because we already allotted all of the green bond funds and and that was in the twenty twenty three
00:25:08
as you can see there are some some pages of a surgeon ability
00:25:12
on the screen i just want to mention their three pillars the first is
00:25:18
we i didn't uh i did into i feel uh forget arkansas at it
00:25:23
we headed to edits the way
00:25:28
we i just i pick guidance depend on the cost of of uh of uh combinations
00:25:34
so we we're combining them financial financial the second is
00:25:40
to to be i mange um and change of a cop in for print is
00:25:43
procurement almost two thirds of a cop them for for print oh i'm in direct emissions
00:25:50
if i and we'll work we implementing i knew this is notable procurement policy
00:25:55
which for quite a systematic assessment into uh in terms
00:25:58
of austin's ability of a supply as and a second day
00:26:02
the the c. s. r. criteria criteria is way to twenty percent you know tenders and lastly
00:26:09
and we win most important stuff teams who are our way yeah
00:26:13
uh passes any pity issues to understand the system but the issue is
00:26:17
so we sat in the should talk a only with talking to to train eighty percent of our employees
00:26:23
through a ninety minute training program before the end of the year and a hand back to question i i think you need colour
00:26:36
for the last part is presentation we're going to leave the short term move on to the long to twenty
00:26:42
twenty three we're not steal a new strategy based on
00:26:44
massive investment in renewable energies and in the end she transition
00:26:50
hopefully between the the start and the end of the period to twenty
00:26:54
twenty one twenty twenty six we're going to give you a intimated really review
00:26:58
top live you can see the development of our own production has continued
00:27:05
with uh all uh plus thirty chuckle dollar increase in seoul outputs in switzerland
00:27:11
basically for industrial and commercial customers and then the implementation of the
00:27:17
centre across the the commissioning of the sent to caught wind farm
00:27:22
which is generating twenty two cheek about uh always of additional cost
00:27:28
as cynical as already mentioned we are continuing the roll out of a of
00:27:32
a smart meters with more than one hundred fifty thousand smart meters already rolled out
00:27:40
investment in district teaching is continuing were the beginning of the
00:27:45
opening of lot sure construction sites but you can see that
00:27:49
in these first three years thermal generation
00:27:53
has also increased significantly it's almost equivalent to
00:27:57
what we did to him every of electricity in a soul a solar generation and that will speed up
00:28:05
we're also major actor in mobility the electric mobility with um
00:28:12
the aim is not to uh equipped public uh
00:28:15
parking spaces but private parking spaces in the condominiums
00:28:20
we've already equipped merely fifteen thousand parking spaces and that
00:28:25
gives us a a a de facto monopoly for the future
00:28:30
because um what thirty uh purchases of
00:28:33
use the electric or vehicle soft uh um
00:28:38
tenants or a a property owners they will have to go through us
00:28:46
our for twenty twenty one twenty twenty four we
00:28:50
wanted to uh uh improved the profitability of uh
00:28:57
uh uh remote energy services and to that was the case
00:29:00
in twenty twenty three we had our he bit of five million
00:29:04
i've already mentioned click in charge and we've also
00:29:07
interested in us was startups sustainability startups in our region
00:29:14
and we've also interested to hear in a a
00:29:18
b. b. would be very by solar impulse of fund
00:29:22
which enables us to get a few or c. d. development of clean tech technology in europe
00:29:29
nevertheless as the condition so evolving we have proposed
00:29:33
to op board of directors that the strategy be updated
00:29:36
and also that it's time horizon p. extended up to twenty thirty boy well because the context is evolving
00:29:43
i won't come back to the market and the colour has already explained that to you
00:29:47
what is remarkable is the explosion and acceleration of the development of solar power in switzerland
00:29:53
this year that that ten percent um of
00:29:58
electricity will be generated by solar in switzerland
00:30:02
uh it's that means we pollute for constructively cool equivalent
00:30:06
of a new uh nuclear power station in switch and so
00:30:11
um this uh solar power generation is also t. centralise
00:30:15
did calls for a reinforcement of our investment to include
00:30:18
and it gives rise to this volatility smoke
00:30:21
it folded guilty which requires a flexibility in storage
00:30:25
capacity in order to cushion the sometimes devastating
00:30:29
impact of volatility as nicholas or explain to you
00:30:34
in the centre you will see mention of the legislation
00:30:38
and the regulations the swiss people are massively rectified electricity act
00:30:45
and the federation has also been taking initiatives to promote
00:30:49
renewable energy use this of course is feasible to our company
00:30:55
kendall programs in particular caught him to uh to
00:30:59
promoting stricter uh regulations for uh buildings symptoms of energy
00:31:05
that's a case of the new footwork energy lore too soon going to be adopted and we'll
00:31:11
set the renovation obligation for extremely poorly insulated buildings
00:31:18
and uh that was the reason why i um we
00:31:22
set up companies like i. d. go i'm twenty companies
00:31:25
like apple possible in future uh one has been a
00:31:29
resumption of negotiations between switched on twenty you perfectly as regards
00:31:34
the agreement on electricity if they are successful that could have two results for hot you first of all the
00:31:40
complete liberal association of the market we have to prepare
00:31:43
for that and the obligation to legally separate our creed to
00:31:48
uh activities uh which um which which could give rise to separation between uh
00:31:56
uh the monopoly type activities and the other activities
00:32:03
we've already interested twelve hundred million swiss francs in the energy
00:32:06
transition we've achieved notable successes in the feel of a key generation
00:32:11
and solar roll out has been satisfactory and is now important at
00:32:15
how voice stage too closely campuses wants these projects have been materialist
00:32:21
on implementation which measures up to expectations in terms of profitability
00:32:28
there's some things which are not changing in this twenty thirty strategy our mission is still a
00:32:35
to make was to switch on the first met zero region in the country to help or make a um
00:32:42
the sustainable world material us which would be better for our children and at
00:32:47
the same time we're focusing on our three pillow talk it economic environmental and social
00:32:53
all three of uh these go hand in hand each one reinforces the other
00:33:02
draw a fuse changes which we are making
00:33:05
to our strategic initiatives as regards customer solutions
00:33:10
we can for them that we're becoming a pivotal player m. t. capitalisation
00:33:14
thanks a into related to the creation of the company id
00:33:18
go also preparing a new strategy with a view to the
00:33:22
potential market liberal opposition i will come back to that in
00:33:25
the next to slide as regards of the roll out of infrastructure
00:33:31
fruits twenty thirty we have to prepare secret forty
00:33:34
explosion of solar power generation that initiative discontinuing the uh
00:33:40
hydropower plan which are illustrated in my introduction that is continuing in order to
00:33:45
reinforce our own generation and just a blows the terse we charge our customers
00:33:52
three fold into plan is um bearing fruit we have signed agreements with the number
00:33:57
of food was really superlatives and which measure up to our expectations and there's a
00:34:02
new initiative another new initiative in order to cope with this explosion of solar energy
00:34:08
i will say something about that to me uh next slide which concerns flexibility in storage
00:34:15
what you don't see of course is the hidden part of the iceberg
00:34:19
all of these new professionals to
00:34:22
require changes uh in our workforce
00:34:27
some uh chopped so disappearing because they are becoming integrated in the day to day work about teams
00:34:33
three have been selected to uh remain uh huh
00:34:39
uh to reduce or uh environmental responsibility has
00:34:43
to affect all our uh trade some professions
00:34:48
and we really have to focus on decomposition we have
00:34:51
to calculate our carbon footprint on each are renewable energy initiative
00:34:57
and we're going to emphasise that with
00:35:00
our new sustainability here uh officer floor schmidt
00:35:07
customer focus customer orientation is continuing and to it being reinforced
00:35:12
typically with a view to market liberalism nation and cause economic performance
00:35:20
no we're not of the project so run a on the way
00:35:22
being developed we have to ensure their economic profitability new initiatives no
00:35:29
we have to control our modules which um
00:35:34
well uh what would be your competitive for the production of the colour what or
00:35:39
we have to utilise to transition in order to be more efficient in our operations
00:35:45
by the way of a you know a a an introduction we hear the but
00:35:49
with a preamble we recently launched our new website which and try to to consult
00:35:54
and you will see the groundwork to to be done in this regard
00:35:59
oh well i. t. has to be more cosy customer oriented easier to use
00:36:03
i don't we have to control our costs in the services area in the centre
00:36:11
the and the this is uh we have to focus on flexibility in storage old because already focused on this
00:36:17
no in the past we just the the what has values production today however we see that the production does
00:36:22
not always have the same value depends on the time of day and it depends on the season or seasons
00:36:28
you have to have the right level of production at the right time and to do that you need flexibility
00:36:35
and storage capabilities uh that's important for our greed
00:36:39
if it is too so but a generation and
00:36:42
thanks television and artificial intelligence we can intel accrued
00:36:46
with more flexibility to load gives us this possibility
00:36:53
we have to uh a disconnect certain soul
00:36:55
uh a generation facilities uh at peak times
00:37:02
and a hydroelectric a power of course i'm a
00:37:08
bus stations can be used to store a power
00:37:13
and also um a battery farms which we're putting at
00:37:18
the moment to to uh in the in the valley
00:37:23
and that gives us more flexibility we have for almost our board of directors for
00:37:28
a considerable considerable increase in resources so was a workforce
00:37:34
has a double teams twenty twenty one also increasing our cutbacks
00:37:38
and it's up to us now to make the best possible usage of these new resources which i've been allocated to us
00:37:46
and in the future we're going to focus increasingly on the deployment of these projects on the uh and on the profitability of
00:37:52
this project although of course the colour has already shown you the
00:37:57
positive contribution that these major investments are already making too easy bit
00:38:07
no on the left electric part you can see that our generation is progressing each
00:38:13
year without hydroelectric are wind power solar plants both in sweets and and in front
00:38:21
the speaker leap that you can see which is a schedule for twenty thirty
00:38:27
uh concerns the long term contract we confronted into for that period it's not own projection which
00:38:33
um belongs to us it does not require any complex but it's assimilated into the new uh oh
00:38:39
uh into the new on production him down to the new little
00:38:44
that's that's where you see this enormous a leap without seeing a corresponding increase in cap ex
00:38:50
in a enrolled you'll see three yeah that to that is when phone we have some major
00:38:55
projects for this in a front three when phone so ready to uh a
00:39:01
bill to we're waiting for approval from a c. could operated fronts and it is
00:39:07
which is having difficulty keeping up with the pace of a
00:39:10
renewal of a winter fonts on the planet when phones in france
00:39:15
and uh because that we've had to a show off the implementation of those uh when phones
00:39:22
and the solar plan of a remote machine sweets and is continuing
00:39:26
to develop and that's why you concede a considerable increase in solar generation
00:39:32
as we got from our generation the trend is increasing sharply today we
00:39:37
are relatively small district teachings operator and a heat generation uh uh actor
00:39:47
with about sixty to a teacher what else but with the uh
00:39:51
the sites that we are for contract with the municipalities sunni already role as
00:39:57
well a motion and a more pro where it's going to be starting tended model
00:40:02
and oh yeah and you can see that these major sites will uh windows with um
00:40:11
considerable prestige three hundred and fifty uh to go tell us um
00:40:16
by twenty thirteen forty or fifty but twenty thirty five to turn red car is um
00:40:24
the power which will be generated by local would that's where we are in integrating
00:40:31
for a simple plan we're entering into tenure contracts with
00:40:35
forced on those and and opal that so heat pumps
00:40:41
so the lake based a distance hitting that's the case in motion
00:40:46
and more pro and it will also be the case in that role
00:40:51
well i'm not one hundred percent reliable because it for district eating plan
00:40:56
sometimes we have to filter temp real
00:40:59
mobile plants which are fossil fuel based
00:41:03
or emergency uh stations in the uh another bus station
00:41:09
has to be taken out of service for a while
00:41:12
we do still have to use some fossil posters uh
00:41:16
power stations but we are moving up to ninety percent renewable
00:41:22
so the conclusions to the underlying trends off a verbal
00:41:25
plus the regulatory backdrop is moving in the direction that
00:41:29
we had hoped the electrification of society's continuing in that
00:41:34
uh buildings which of course is feasible for a lot
00:41:37
the electricity and the heat to production but also for our services and uh
00:41:46
the energy boom uh in a renewable says continuing so remote energy use
00:41:51
confirming its plays a pivotal player in the decomposition a process across switzerland
00:41:59
and we also have any value creation a strategy for the long term
00:42:07
with the investments of one point four billion up to twenty twenty seven
00:42:12
and we will begin to see return on this investment you've already seen
00:42:16
that that to starting tonight is going to be reinforced each and every year
00:42:20
our next meetings well i will be speaking myself for um
00:42:26
eunice you rick uh to interested twenty twenty four i uh
00:42:32
hope our uh i suppose to men friends will be able to turn donating to september than so it could be
00:42:38
so it's a critique conference in twenty twenty four and then the traditional uh meetings fully results which we
00:42:44
presented loser normally believe it's next to the full the results is will ensue rick on april the ninth
00:42:51
and uh the h. m. we will be saying goodbye to the
00:42:55
most acute are emblematic present to be handing over next year in may
00:43:01
we would like to thank you very much indeed for your attention thank you for
