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General presentation about Elia given by CEO Jacques Vandermeiren at Trends Lunch on 18th April 2013.
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Trends Lunch
18-04-2013
Elia Group:
Powering a World in Progress
Agenda
2
1. Elia Group: A European Transmission System
Operator active in Belgium and in Germany
3. Major projects 2013
2. Renewables: a game changer
Agenda
3
1. Elia Group: A European Transmission System
Operator active in Belgium and in Germany
3. Major projects 2013
2. Renewables: a game changer
International exports
Electricity generation
International imports
Small industry & domestic clients
Large & medium clients
380-220kV
(50Hertz + Elia)
150/110/70/30kV
(Elia)
<30kV
Elia operates, maintains and develops a network consisting of lines, underground cables, transformers and substations linking producers and consumers of electricity
Elia’s central role as a de facto
monopoly
4 Source : Company website
5
Overview of Activities
System
Operation
• Capacity allocation
• Network operation
• Balancing generation and demand
Infrastructure
Management
Related
Activities
• Ownership
• Maintenance
• Development
• Market facilitator
• Services & technical expertise
• Telecom services
• HGRT / Powernext / Belpex
• EU Integration (CASC-CWE, Coreso)
• Activities for third parties (consulting)
Elia at a Glance
EUR million 2012
Revenues 1,306.6
EBITDA 455.5
EBIT 305.4
Net Income 155.0
Equity 2,108.5
Net financial debt 2,910.8
Regulated Asset Base 5,300
2012 key financials
Source : Company website
Corporate structure and
shareholder’s structure
Elia & 50Hertz Transmission
6
Free float1
52.26% Publipart 2.52%
Publi-T 45.22%
Elia System Operator SA
Elia Asset SA 99.99%
Elia Engineering
100%
Elia Re 100%
CASC 8.33%
HGRT 24.50%
Coreso 22.49%
APX 29.02%
Eurogrid International SCRL
60.00%
Eurogrid GmbH 100%
Gridlab GmbH 100%
E offshore A LLC
100%
50Hertz Transmission
100%
Coreso 10.00%
EMCC 20.00%
50Hertz Offshore 100%
CAO 12.50%
Atlantic Grid Investment A Inc. - 100%
Atlantic Grid A Interm. Holdco 10.00%
Atlantic Grid A Operational
Holdco 1Free float contains 5.41% held by Belfius Insurance
First HVDC offshore-grid in the
world
• Up to 6000 MW wind production
• 2000 MW interconnector for 4 states
• Participation: Eurogrid International (10%)
• Partners: Google, Marubeni, Bregal Energy
and Atlantic Grid Developers
• Investment: € 2,7m till PJM ISO approval
+
Consultancy contract for Elia Group
Building on Elia & 50Hertz strengths
7 Source : Company website, www: atlanticwindconnection.com
8
Ownership
Elia • 100% of 380-150kV network
• 94% of high voltage network (70-30kV)
50Hertz • 100% of 380-220kV network
34% of the German 380kV network
19% owner of the German 220kV network
Age of networks
Elia • Less than 15 years for 50% of underground cables
• Less than 25 years for 50% of lines & substations
50Hertz • Around 10 years for 90% of the network (refurbished
after German reunification in 1989)
Elia Group: reliable and resilient
networks
Source : Company website
TenneT
GmbH
Elia-TSO : € 150.0 m
• Main drivers are replacements and internal
consumption
• Reliability: 99.999%
Elia Group: Investments 2012
9
50Hertz : € 253.4 m (of which 60% for Elia)
• Onshore : € 143.5 m
• Offshore : € 109.9 m
• Mainly for RES integration
• Reliability: 1.2 incidents per 100km
47%
28%
Renewables & new plants
9%
Non electrical
16%
Replacements
Internal
consumption
4%
2%
90% 4% Non electrical
Replacements
Internal
consumption
Renewables
& new plants
Source : Company website
Agenda
10
1. Elia Group: A European Transmission System
Operator active in Belgium and in Germany
3. Major projects 2013
2. Renewables: a game changer
• Fast increasing share of Renewable Energy Sources
• Need to achieve (quickly)
• Investments in flexible Generation and Demand
• Adequate Transmission capacity
• Highly liquid day-ahead and Intraday markets
• Facing the power system reality…
Key Challenges
RES : the Game Changer
.. RES = Flexibility
0
5.000
10.000
15.000
20.000
25.000
04.02.2011,
00:00
05.02.2011,
00:00
06.02.2011,
00:00
07.02.2011,
00:00
08.02.2011,
00:00
09.02.2011,
00:00
10.02.2011,
00:00
MW Actual production Forecasted production
Wind generation
… should Germany be an E-island …
Let us assume:
Use of 400 MW Flexible CCGT
with fast ramping of ~150 MW
Flexibility = ~ 33 CCGT units
with a usage factor of 2000-3000 h/yr
Who will invest ? Source: EEX, Elia analysis
Solar generation
Max – min generation : 23 GW
Forecast – actual: 5 GW
0
2.000
4.000
6.000
8.000
10.000
12.000
14.000
02.09.2011,
00:00
03.09.2011,
00:00
04.09.2011,
00:00
05.09.2011,
00:00
06.09.2011,
00:00
07.09.2011,
00:00
08.09.2011,
00:00
MW
50Hertz Amprion TenneT EnBW Actual production
Forecast – actual : 2 GW
Delta peak in 1
week: 9 GW
2012 peak = 22GW
Reserves needed for Wind forecast : ~ 5 GW
Germany today
.. RES = Grid Capacity within Member States
0
10.000
20.000
30.000
40.000
50.000
60.000
70.000
80.000
28.03.2012,
00:00
28.03.2012,
08:00
28.03.2012,
16:00
29.03.2012,
00:00
29.03.2012,
08:00
29.03.2012,
16:00
MW
Conventional Wind Solar
Generation mix in Germany
Wind + solar: 40% of peak demand
2012 wind power, redispatch, curtailment (50Hz area) 2009 wind power, redispatch, curtailment (50Hz area)
0
1.000
2.000
3.000
4.000
5.000
6.000
7.000
8.000
9.000
10.000
01.01.2009 08.01.2009 16.01.2009 24.01.2009 31.01.2009
MW
Wind power Redispatch Curtailment
0
1.000
2.000
3.000
4.000
5.000
6.000
7.000
8.000
9.000
10.000
01.01.2012 08.01.2012 16.01.2012 24.01.2012 31.01.2012
MW
Wind power Redispatch Curtailment
Capacity
[MW] 0 20.000 40.000 60.000 80.000
2020
2015
2010
Consumption
Generation
Consumption
Generation
Consumption
Generation
.. RES = Grid Capacity between Member States
Demand centers
Renewables Current projects
The necessary network expansion is slower than the increase of renewable energies.
Conventional power plants (install.)1
RES (install.)2 Heavy load (estimate)3
Export capacity (estimate)3
≈ 30 GW ≈ 25 GW
1 Application situation according to the German ordinance governing network access for power plants (KraftNAV) of 28/02/2011
2 2010: Actual values according to ISET and EEG-DB; 2015/2020: own EEG forecast 2010
3 Estimate of the maximum load in the control area in 2009 and information on the network expansion planning report 2010
Agenda
16
1. Elia Group: A European Transmission System
Operator active in Belgium and in Germany
3. Major projects 2013
2. Renewables: a game changer
Elia-TSO : €200m
Main drivers
• Replacements
• Internal demand
• First offshore investments in the North
Sea
17
50Hertz : €415m (of which 60% for Elia)
• Onshore : €267 m
• Offshore : €148 m
Main drivers
• RES integration
4%
3%
86%
7%
Non electrical
Replacements
Internal
consumption
Renewables &
new generation
41%
33%
Offshore 6%
Renewables & new
generation 8%
Non electrical
12%
Replacements
Internal
consumption
Elia Group: Investments
Outlook 2013
Source: Company forecasts
Elia TSO – Investments 2013 – 2022
18
Reinforcement
North border
Additional PST,
second circuit
Gramme-Van
Eyck
Decentralised
production Meer,
Rijkevorsel,
Merksplas
Project Brabo in
port of Antwerp
Reinforcement
Baekeland-
Mercator-Doel
Reinforcement
“East loop”
onshore wind
Reinforcement
South border
Project Stevin for
shore
reinforcement
Onshore: Major projects Offshore
• Investment around € 2.0 billion over the coming 10 years in the onshore grid
• Offshore grid is not yet included in the business plan. Investment amounts potentially up to € 1.0
billion, first investments foreseen in 2013
Source: Company forecasts
19
50Hertz – Investments 2013 – 2022
Onshore Offshore – Baltic Sea
• Investment around € 4.0 billion in the grid over the coming 10 years, spread over onshore (+/-
55%) and offshore (45%) projects
• Offshore projects are mainly Baltic 2, Wikinger, Arkona-Becken Sudost
Source: Company forecasts
20
A true challenge for the Elia Group!
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