Elia Publishes Interim Statement Q3 2011 (Belgium)

Elia Publishes Interim Statement Q3 2011 (Belgium)

As reported in the 2011 half-yearly results, Elia is unable to give any concrete profit forecasts since the annual result is dependent upon parameters that will either not be known until the end of 2011 (such as the inflation figure for December 2011) or else can only be calculated at that time (e.g. average Belgian 10-year interest rate; the beta of Elia shares; and the total investment of Eurogrid/50Hertz).

Investments and large-scale maintenance works for 2011 are on schedule to be completed as planned.

In September 2011, 15 months after the takeover in Germany, Elia received for the first time a dividend from 50Hertz Transmission. It came to €36.4 million.

Pursuant to legal requirements, Elia submitted a new tariff proposal for the period 2012-2015 to the federal regulator CREG at the end of June. Negotiations in this regard are currently going on. The regulator is expected to issue a final ruling about this by the end of December 2011 at the latest.

Elia presents its vision for the future regarding an offshore grid Elia presented in a publication its vision for the future regarding the development of an offshore grid in the North Sea. The concept was elaborated in consultation with the project developers for the wind farms off the Belgian coast and is based on a gradual development of a closely intermeshed grid at sea. The steps in this process coincide with the scheduled commissioning of the concessions that have been granted off the Belgian coast.

This offshore grid would have the same benefits in terms of reliability as the onshore grid, due to its intermeshed structure, optimisation of investments and fewer subsea cable lines to the coast and the onshore grid.

The goal is to gradually establish two platforms in the North Sea featuring gas-insulated substations (GISs) and connected to each other and the high-voltage Stevin and Zeebrugge substations by 220-kV lines. The offshore grid would be constructed in phases, in parallel with the construction of the seven wind-farm concessions and might be operational as early as 2014.

It would also serve as an outpost for a future connection linking up with an international platform. This approach would enable access to other energy sources, including hydroelectric power from Scandinavia, which could be drawn on in the event of insufficient wind in the North Sea, and would enable wind power to be stored for later use when generation outstrips consumption.

Philip Heylen joins the Elia Board as a Publi-T representative

Following the resignation of Johan De Roo (62), who has represented Publi-T on the Elia Board since 2001, the Board approved the appointment of Philip Heylen, upon the proposal of the core shareholder Publi-T.

The Extraordinary General Meeting of Shareholders of 23 October confirmed this appointment.

Philip Heylen is the alderman for culture and tourism on Antwerp municipal council. With his legal training, aesthetic bent and social commitment, he combines active involvement in numerous cultural organisations and initiatives with economic and financial duties. He holds directorships in Antwerpse Havenbedrijf and Publigas.

Elia signs consultancy contract with SEC

A consortium composed of Elia, RTE International and Tractebel Engineering has signed a framework contract with Saudi Electricity Company (SEC) to provide engineering consultancy services for the SEC Transmission Business Unit. These services encompass asset management and asset maintenance services, maintenance practices, asset performance management, grid system analysis and training practices.

Further steps in European electricity market integration and consolidation of European energy exchanges

On 21 September 2011, the European Network of Transmission System Operators for Electricity (ENTSO-E) and the Association of European Energy Exchanges (EUROPEX) presented a joint plan to the European Commission and the Agency for the Cooperation of Energy Regulators (ACER) setting out how key steps can be taken in the further integration of the European intraday markets.

The cornerstone of the plan is based on the further expansion and joint use of the existing Elbas trading platform by the European electricity exchanges. The platform has been used for a while by Nord Pool Spot1 for the integrated Scandinavian intraday market and by APX-ENDEX and Belpex for the integrated Belgian-Dutch intraday market. The aim is to achieve integration of the intraday markets of the whole North West Europe region by the end of 2012.

On 28 September 2011, Nord Pool Spot and EPEX SPOT2 announced that they had signed a Letter of Intent to create a joint venture to set up and operate trading platforms together for the intraday and day-ahead markets. By sharing trading platforms, the parties aim to facilitate this further electricity market integration. Through its stake in HGRT, Elia is a key shareholder in EPEX SPOT.

Eleanore project officially launched on 30 September 2011

3E, Alstom Grid, CG, CMI, DEME Blue Energy, Eurogrid International (Elia/50Hertz/IFM) and SAG are each actively involved, in their specific areas, in developing and integrating renewable energy in response to the European energy and climate protection targets.

The seven companies would like to join forces to jointly develop, operate and invest in targeted projects in the North Sea, the Baltic, the English Channel, the Celtic Sea and the Irish Sea, in addition to providing combined services, products and investments to develop, operate and maintain the required marine infrastructure.

In this way they are demonstrating their strong support for the initiatives taken by the EU, national and/or authorities to further the development of offshore wind energy generation. The agreement also shows the sector’s willingness to make a clear, proactive contribution to the North Seas Countries’ Offshore Grid Initiative, the Memory of Understanding signed recently by government ministers of the North Sea countries: Belgium, Denmark, France, Germany, Ireland, Luxembourg, the Netherlands, Sweden and the UK.

[mappress]

Offshore WIND staff, November 15, 2011; Image: elia

Related news

List of related news articles