Page 181 - KELAG Annual Report 2019
P. 181

INCOME STATEMENT
            Revenue                                         4.6                4.8
            Other income                                    0.2                0.1
            Expenses                                       26.3               24.7
            STATEMENT OF FINANCIAL POSITION
            Receivables                                     0.3                2.0
            Liabilities                                     3.5                2.8



           The transactions with associates mainly relate to energy purchase and supply transactions.

           KELAG acquired (proportional) electricity purchase rights by paying construction cost subsidies
           for power plants on  the Danube and Drau rivers and for the Malta and Reißeck power plant
           groups. Under these electricity supply agreements, KELAG is entitled to obtain a portion of the
           electricity produced by these power plants in return for the reimbursement of certain accounting
           expenses (not including amortisation, depreciation and impairment or interest).

           Revenue  from electricity  trading  activities  with  shareholders  and  their  affiliates  amounted  to
           EUR 55.8m  (prior  year:  EUR 36.3m).  Services  in  connection  with  electricity  trading  activities,
           purchase rights and grid costs of EUR 120.7m (prior year: EUR 113.1m) were purchased from the
           shareholders and their affiliates.

           Furthermore,  KEH  was  charged  EUR 23.8m  (prior  year:  EUR 17.7m)  in  expenses  from  the  tax
           allocation in the financial year 2019.

           Information relating to internal group matters is eliminated and is not subject to mandatory
           disclosure in the consolidated financial statements. Transactions by KELAG with subsidiaries that
           are fully consolidated therefore do not have to be reported.
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