Page 49 - Annual Report KELAG Group 2018
P. 49

Environmental protection notices for Austrian wind turbines impose a duty to remove the wind
                                      turbines after decommissioning or interruption of operation for more than one year. A provision
                                      of EUR 2.6m (prior year: EUR 2.6m) was recognised for these recultivation obligations. The present
                                      value of the obligation calculated in accordance with IAS 37 was recorded on the assets side of
                                      the statement of the financial position  in accordance with IAS 16.16c with an increase in the
                                      carrying amount.

                                      KELAG is obliged to supply energy to the issuers of easements. The provisions cover the expected
                                      outflow of resources of EUR 18.6m (prior year: EUR 19.5m) from compensation negotiations on
                                      existing customer contracts that are disadvantageous for KELAG.

                                      Outstanding invoices for grid loss costs, upstream grid costs and damages claims in connection
                                      with pending legal disputes over repayment of grid usage fees received were recognised in the
                                      statement of financial position in the amount of the expected outflow of resources of EUR 0.2m
                                      (prior year: EUR 2.9m).

                                      In the reporting period 2015, several parties made claims for damages against VERBUND Hydro
                                      Power  GmbH  –  included  in  these  consolidated  financial  statements  as  an  associate  –  in
                                      connection with the Drau flood in 2012. The portion of the obligation attributable to KELAG is still
                                      recognised as a non-current provision of around EUR 15.2m (prior year: EUR 13.8m).

                                      Other  provisions  mainly  relate  to  deferred  income  as  well  as  potential  losses  from  onerous
                                      contracts, where their amount or their date of occurrence are still uncertain.

                                      The  outflow  of  resources  from  current  other  provisions  (Note  27)  is  expected  in  the  coming
                                      financial year. For non-current provisions, the outflow of resources is expected on average in a
                                      period of 5 to 10 years.
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