DONG Energy - 8 May Klik for at redigere undertiteltypografien i masteren

Transcription

1 DONG Energy - 8 May 2008 Senior Klik Vice for President at redigere Per Holmgård titeltypografi i masteren Klik for at redigere undertiteltypografien i masteren

2 The DONG Energy Group is the merger of six companies in companies 4500 employees Offices various places in Denmark Affiliates in a number of European countries 2

3 DONG Energy s 2006 revenue was DKK 36 billion POWER E&P DISTRIBUTION MARKETS Revenue DKK 7.6bn* (21%) DKK 5.6bn (16%) DKK 2.6bn* (7%) DKK 19.9bn* (56%) EBITDA Geographic area Thermal DKK 2.7bn (31%) Renewables DKK 3.5bn (40%) DKK 1.0bn (11%) DKK 1.6bn (18%) Segment overview Central power stations Electricity and heat production and sales in eastern and western Denmark Offshore Wind Onshore Wind Hydropower Renewables produce energy, primarily from wind turbines and hydropower Geographic focus areas Oil and gas exploration and production Focus on building up gas reserves to underpin gas sales activities Oil & Gas pipelines Electr. distribution Gas distribution Gas distribution in two geographic areas and one gas storage facility Electricity distribution in the metropolitan area Electricity and gas markets Sales offices Energy exchanges Markets buy and sell gas to large companies and are engaged in wholesale trading and retail Markets buy electricity for intra-group resale and international markets * Contribution from acquired power companies only included for 6-8 months in 2006 results. Eliminations included in Markets 3

4 Doc. info DONG Energy in Europe Statkraft 11 Fortum 11 Power production capacity EDF E.ON Enel RWE Vattenfall Endesa Electrabel Iberdrola EnBW PPC CEZ British Energy Statkraft Fortum EDP Scottish&Southern Edision Axpo Verbund SE Union Fenosa Scottish Power DONG Energy Essent Nuon Drax GW EDP 11 Scottish Power 6 Scottish&Southern 10 Drax 4 British Energy 12 Iberdrola 23 Union Fenosa 7 Endesa 32 EDF 114 Essent 5 Electrabel 28 DONG Energy Nuon 4 Axpo 9 6 EnBW 14 RWE 44 Enel 45 E.ON 45 Verbund 8 Vattenfall 33 CEZ 12 Edision 10 SE 7 PPC 12 4

5 Doc. info Our Business Model PRODUCTION OPTIMISATION SALES AND DISTRIBUTION NATURAL GAS PRIVATE CLIENTS OIL PUBLIC CLIENTS RENEWABLE ENERGY BUSINESS CLIENTS COAL WHOLE- SALE BIOMASS ENERGY EXCHANGES 5

6 Key business drivers Generation Significant growth in renewable capacity Thermal portfolio growth Benefits from acquisition synergies Lower CO 2 allocations E&P Ormen Lange on-stream New discovery development Distribution Regulated returns Underground cable laying Expansion of natural gas storage Markets Replacement of declining DUC volumes by supplies from Norway, Russia and LNG Participation in cross-border traded and wholesale markets for power, gas, coal, oil and CO2 Further expansion of downstream market share for power and gas in Netherlands and Germany Acquisition of CO2 quota via CDM/JI mechanisms 6

7 Opportunities in the carbon market Vision Sustainable energy New technologies Carbon Capture and storage Bioethanol Optimization technologies Hybrid New products for customers More wind More biomass New and better power plants Efficient operation Gas Bioethanol Own energy consumption Renewable energy Clean Coal Transportation Energy consumption 7

8 DONG Energy's work to secure future Power Supply Future Power Production Nuclear power? Hydro? CO2 reducing technology CO2 Castor Gasclearing Pilot plant on CO2 coal injiceres i et oliefelt firing Renewables energy Leading position in offshore wind Coal Renewables High effective Power station CO2 injektion in oil-fields Production of biofuels

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13 Extensive investment program drives growth Anticipated capital expenditure Key potential investments (1) Total capex : DKK billion Offshore wind farms Distribution Approx. 10% Markets Approx. 10% Generation Approx. 60% Ormen Lange extensions E&P discoveries Fiber optic cables, outdoor lighting and underground cable laying E&P Approx. 20% 1,500 MW thermal plant in Greifswald, Germany (final decision in two years) Note: 1. Final investment decision has yet to be taken for some projects 13

14 More renewable energy in the portfolio CAPACITY INVESTMENTS 85% 15% 50% 50% 14

15 Market leader in offshore wind DONG Energy has been involved in 5 out of the world s 10 large offshore wind farms We are planning to invest DKK 10 Billion in wind power from Horns Rev II Walney Gunfleet Sands I+II and more 15

16 16 Strong renewables track record with promising future Key strengths Renewables development portfolio Strong and growing renewables portfolio Participated in 5 of 10 largest offshore wind farms expected to be operational by end 2007* Unique development and operating competencies Leveraging E&P capabilities Horns Rev II offshore project Borkum Riffgrund offshore project Gunfleet Sands I offshore project Danish and Norwegian onshore projects Net Installed power capacity Renewable capacity 828MW Hydro power 206 MW Offshore wind 369 MW UK offshore projects Polish onshore projects Onshore wind 253 MW *wind parks with a gross capacity above 40MW Under engineering and construction (308MW) Pipeline

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18 DONG Energy involved in 11 out of 19 projects in operation today The global offshore wind farms in operation Project/Country WTG MW Construction DONG Energy Nysted Offshore Windfarm (DK) 72x2.3MW Bonus Built, Operates Horns Rev I (DK)** 80x2MW Vestas Built Tunø Knob (DK) 10x500kW Vestas Built, Operates Vindeby (DK) 11x450kW Bonus Built, operates Middelgrunden (DK) 20x2MW Bonus Built, Operates Palludan Flak (DK) 10x2.3MW Bonus Built, Operates Lely (NL) 4x500kW NedWind Dronten Isselmeer (NL) 28x600kW Nordtank Egmond am Zee (NL) 60 x 2 MW Vestas Bockstigen (SE) 5x550kW Wind World Utgrunden (SE)* 7x1,5MW ENRON Has operated Yttre Stengrund (SE)* 5x2MW NEG Micon Has operated Blyth (UK) 2x2MW Vestas Arklow Banks phase I (UK) 7x3.6MW GE Wind North Hoyle (UK) 30x2MW Vestas Scroby Sands (UK) 30x2MW Vestas Kentish Flats (UK)* 30x3MW Vestas Built Barrow Offshore Wind Farm (UK) 30x3MW Vestas Built, Operates Burbo Bank Offshore Wind Park (UK) 25x3.6 MW Siemens Built, operates

19 There are more than 2000 MW (net) in Renewables offshore pipeline* Project name Country Total MW Renewables share (%) Renewables share (MW) Partners Horns Rev II DK % 210 Gunfleet Sands I UK % 108 Gunfleet Sands II UK % 64 London Array I UK 630 ~33% ~210 London Array II UK 370 ~33% ~120 E.ON UK, Shell, Farm Energy E.ON UK, Shell, Farm Energy Walney UK % 600 West of Duddon Sands UK % 165 Scottish Power and Eurus Shell Flat UK % 90 Celtpower (Scottish Power and Eurus) and Shell Scarweather Sands UK % 50 E.ON UK Westermost Rough UK % 200 Borkum Riifgrund I DE ,5% 129 Plambeck Neue Energien & Vattenfall, phase 1) Total 3329 MW 1946 MW *Final investment decision has yet to be taken for a number of the below projects 19

20 ... and a substantial onshore pipeline of which the most prominent projects add up to more than 400 MW (net)* Project name Country Total MW Renewables share (%) Renewables share (MW) Partners Midtfjellet Norway % Fitjar Kraftlag Nygårdsfjellet II Norway 40 50% 20 Nordkraft Vind Geitfjellet Norway ,30% 53 Zephyr Storrun Sweden % 30 - Lake Ostrowo II Poland % 14 - Karnice I+II Poland 30/25 100% 30 - Wind project Slupsk Poland % 68 - Wind project Gdansk Poland % 54 - Wind project Poznan Poland % 25 - Rybice Poland % 25 - Broadmeadows UK 18 50% 9 GreenPower Int. Total 627 MW MW In addition to these major projects, DONG Energy Renewables has an onshore pipeline of more than 2000 MW in Denmark, Poland, France, Norway and Sweden *Final investment decision has yet to be taken for a number of the below projects 20

21 Oversigt over geografisk spredning af pipeline emnerne* Gimsøy/ Gimsøy Offshore Bufjellet/Hovden Ånstadblåheia Nygårdsfjellet II Burbo Broadmeadows West of Duddon Shell Flats Scarweather Sands Innvordfjellet Remmafjellet Geitfjellet Bremangerlandet Guleslettene Midtfjellet Horns Rev II Walney I +II Westermost Rough Gunfleet Sands London Array Borkum Riff Overgård II Storrun Karnice I +II Lake Ostrowo I +II Marakallen Karwice Starza Stawno Frederikshavn Demoproj. Demomølleprojektet Kappel Demo projekt Stigs Bjergby Rybice Signatur forklaring Markeder Fokus markeder Projekter under udvikling Størrelsesforhold <10 MW <50 MW 50 MW *inkl. enkelte udvalgte projekter i fase 1 2

22 Doc. info Commercial analyses and development of prospects Market analyses Identification of potential sites Acquisition of project rights Partnering Financing Handling of relations to Site owners Legal authorities Partners Sales and distribution companies

23 Doc. info Project development Environmental Impact Assessment Feasibility studies Wind farm design Engineering and project planning Partners Legal and environmental authorities Site owner Procurement strategy, tendering Planning of operating phase Local community Contractors Sales and distribution companies Suppliers 23

24 Doc. info Wind farm construction Project management Construction management Quality, Health, Safety & Environment management Commissioning management Time and cost control, risk management 24

25 Doc. info Power production and asset management Power production Operation and maintenance Asset management O&M support, trouble shooting Warranty follow-up Re-powering analysis Decomissioning 25

26 Offshore Wind projects under Round 1 and Round 2 Shell Flats Offshore Windfarm. Submitted. 33 % DE share of about 270 MW. Barrow Offshore Windfarm. Operational. 50 % DE share of 90 MW. Burbo Offshore Windfarm. Operational. 100 % DE share of 90 MW. Walney Offshore Windfarm. Approved. 100 % DE share of 600 MW. Development of Walney I with a capacity of about 150 MW. Expected commissioning of Walney I in West of Duddon Sands Offshore Windfarm. Submitted. 33 % DE share of 500 MW. Expected approval of West of Duddon Sands Offshore Windfarm in spring Westermost Rough Offshore Windfarm. Submitted. 100 % DE share of 240 MW. Scarweather Sands Offshore Windfarm. Approved. 50 % DE share of 90 MW. Gunfleet Sands I Offshore Windfarm. Under construction. 100 % DE share of 108 MW. Round 1 Round 2 Gunfleet Sands II Offshore Windfarm. Submitted. 100 % DE share of about 65 MW. London Array Offshore Windfarm. Approved. 33 % DE share of 1000 MW. Development of London Array I with a capacity of about 630 MW. Expected commissioning of London Array I in

27 Doc. info UK Offshore Wind policy December 2007 Announcement of Round 3 3 Strategic Environmental Assessment initiated covering additional 25GW of offshore wind SEA covering UK Renewable Energy Zone up to 60m Programme Prequalification- March- June 2008 SEA complete around Q Site competition and award Q1-Q EIA and consenting Construction

28 Offshore Wind projects in the North See Horns Reef 2 Offshore Windfarm. Approved. 100 % DE share of about 200 MW. Expected commissioning in Horns Reef 1 Offshore Windfarm. Operational. 40 % DE share of 160 MW. Borkum Riffgrund Offshore Windfarm. Borkum Riffgrund I: Approved. 46,5 % DE share of about 277 MW (77 positions). Borkum Riffgrund II: Submitted. 97 % DE share of about 400 MW (96 positions). 28

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30 Wind power challenge, good wind location and load don t match! Wind potential Population density

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