ANNUAL REPORT 2011 - DONG Energy

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notes 41 Licence overview significant licences and hydrocarbon exploration and extraction licences in Denmark and abroad Segment/location Activity Licence thermal power Denmark Exploration/ production Geothermal energy exploration and extraction licence Denmark Production Electricity generation licence (general) Ownership interest (%) Expiry - 2013 - 2022 UK Production Electricity generation licence (Severn) - 2032 sales & Distribution Denmark Sales Natural gas supply licence - 20131 Denmark Sales Underground natural gas storage licence Denmark Sales Underground natural gas storage licence - 2023 - 2012 Denmark Sales Natural gas distribution licence - 2023 Denmark Sales Electricity distribution licence - 2023 Denmark Sales Electricity transmission licence - 2025 Denmark Sales PSO licence, electricity - 2012 1 The licence is renewed on an ongoing basis for five-year terms. For a number of the Group’s licences, the licence expiry dates shown opposite each licence indicate the entire term of the exploration and evaluation licence that can be retained if DONG Energy and the Group’s partners in each licence meet certain licence criteria. These criteria may include an obligation to drill a specific number of wells or to assume other obligations relating to planning or development of the area to which the licence relates. If DONG Energy and the Group’s licence partners opt 144 COnsOliDatED finanCial statEmEnts – DONG ENERGY ANNUAL REPORT 2011 not to meet such criteria, the licence term may expire earlier than the date shown in the table above. For wind farms with a capacity of less than 25 MW in Denmark and less than 100 MW in the UK, a production licence is not required.
42 Company overview Segment/company Type 1 Registered office Ownership interest parent company DONG Energy A/S Fredericia, Denmark - Exploration & production DONG CentralGraben E&P Ltd. S Fredericia, Denmark 100% DONG E&P nr. 1 2008 A/S2 S Fredericia, Denmark 100% DONG E&P (UK) Ltd. S London, England 100% DONG E&P A/S S Fredericia, Denmark 100% DONG E&P Føroyar P/F S Torshavn, Faroe Islands 100% DONG E&P Grønland A/S S Sermersooq, Greenland 100% DONG E&P Norge AS S Stavanger, Norway 100% DONG E&P Shetland Islands (UK) Ltd. S London, England 100% DONG E&P Siri (UK) Ltd. S London, England 100% Shetland Land Lease Ltd. A London, England 20% wind power Anholt Havvindmøllepark I/S J Fredericia, Denmark 50% A2SEA A/S S Fredericia, Denmark 51% A2SEA Deutschland GmbH S Hamburg, Germany 51% A2SEA Ltd. S London, England 51% Barrow Offshore Wind Ltd. J Berkshire, England 50% Borkum Riffgrund I Holding A/S S Fredericia, Denmark 100% Breeveertien II Wind Farm B.V. J Rotterdam, Netherlands 50% CT Offshore A/S A Odense, Denmark 15% Den Helder Wind Farm B.V. J Rotterdam, Netherlands 50% DONG Energy 1 Sp. z o. o. S Warsaw, Poland 100% DONG Energy 2 Sp. z o. o. S Warsaw, Poland 100% DONG Energy 3 Sp. z o. o. S Warsaw, Poland 100% DONG Energy 4 Sp. z o. o. S Warsaw, Poland 100% DONG Energy 5 Sp. z o. o. S Warsaw, Poland 100% DONG Energy 6 Sp. z o. o. S Warsaw, Poland 100% DONG Energy - Anholt Offshore A/S S Fredericia, Denmark 100% DONG Energy Borkum Riffgrund I GmbH S Hamburg, Germany 100% DONG Energy Borkum Riffgrund West I GmbH S Hamburg, Germany 100% DONG Energy Bukowo Sp. z o. o. S Warsaw, Poland 100% DONG Energy Burbo (UK) Limited S London, England 100% DONG Energy Burbo Extension (UK) Ltd. S London, England 100% DONG Energy Gasiorowo Sp. z o. o. S Warsaw, Poland 100% DONG Energy Gunfleet Sands Demo (UK) Ltd. S London, England 100% DONG Energy Horns Rev I A/S S Fredericia, Denmark 100% DONG Energy Horns Rev 2 A/S S Fredericia, Denmark 100% DONG Energy Karcino Sp. z o.o. S Koszalin, Poland 100% DONG ENERGY ANNUAL REPORT 2011 – COnsOliDatED finanCial statEmEnts 145 notes
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MOVING ENERGY FORWARD ANNUAL REPORT
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More reliable and clean energy DONG
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More reliable and clean energy Mode
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Q3 17 August signing of Eur 1.3 bil
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ifrs statement of comprehensive inc
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un Global Compact principle Climate
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Spearheading the development of the
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Waste is a valuable resource It is
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DONG Energy involves local operator
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The ambitious business strategy mea
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DONG Energy contributes to green gr
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The photo shows the Siri platform i
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The photo shows the construction of
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The photo shows one of the Group’
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Strong market insight from experien
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The photo shows a meter technician
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monthly average 2011 2010 ∆ Oil,
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Net finance costs amounted to DKK 0
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New presentation of profit for the
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Non-financial performance The Group
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volumes Generation from wind and hy
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was brought back online in October
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Further information on DONG Energy
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DONG Energy has a diversified loan
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Market and credit risks The Group
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isk and risk policy Exposure and he
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isk and risk policy Exposure and he
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Environment As an energy company, D
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Under Danish legislation, the Group
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information and communication DONG
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lars nØrBy JOHansEn Deputy Chairma
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pOul arnE niElsEn b. 1944. Joined t
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The Board of Directors and the Exec
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notes to the statement of cash flow
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DKK million Note Business perfor ma
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Equity and liabilities DKK million
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DKK million Share capital Hedging r
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DKK million Note 2011 2010 suppleme
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02 Critical accounting estimates an
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The excess of the cost of the acqui
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• wind power: Development, constr
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Geographical breakdown 2011 DKK mil
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econciliations DKK million 2011 201
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emuneration of Board of Directors,
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08 Fee to auditor appointed at the
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13 Income tax expense DKK million 2
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DKK million Goodwill Cost at 1 Janu
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The main criteria used for determin
Page 97 and 98: DKK million Land and Impairment tes
Page 99 and 100: 17 Associates and other securities
Page 101 and 102: 19 Receivables DKK million 2011 201
Page 103 and 104: 20 Construction contracts DKK milli
Page 105 and 106: Hybrid capital due 3005 Hybrid capi
Page 107 and 108: Change in temporary differences in
Page 109 and 110: 25 Loans and borrowings DKK million
Page 111 and 112: 27 Income tax receivable and payabl
Page 113 and 114: 29 Disposal of enterprises DKK mill
Page 115 and 116: Other capital transactions with non
Page 117 and 118: Risk Price change Effect on profi t
Page 119 and 120: Categories of fi nancial instrument
Page 121 and 122: securities 2011 DKK million Nominal
Page 123 and 124: trading portfolio, economic hedging
Page 125 and 126: Hedging of net investments in forei
Page 127 and 128: 35 Lease commitments 2011 DKK milli
Page 129 and 130: As a condition for approval of its
Page 131 and 132: 39 Events after the reporting perio
Page 133 and 134: Regulated companies that operate ac
Page 135 and 136: do not satisfy the criteria for hed
Page 137 and 138: translation reserve The translation
Page 139 and 140: eporting enterprise operates. Trans
Page 141 and 142: CO 2 emissions allowances Allocated
Page 143 and 144: Deferred tax is measured using the
Page 145 and 146: Definitions of performance highligh
Page 147: significant licences and hydrocarbo
Page 151 and 152: Segment/company Type 1 Registered o
Page 153 and 154: Segment/company Type 1 Registered o
Page 155 and 156: DONG ENERGY ANNUAL REPORT 2011 - CO
Page 157 and 158: Accounting policies for data collec
Page 159 and 160: significant environmental incidents
Page 161 and 162: fInancIal stateMents 2011 PARENT CO
Page 163 and 164: DKK million Note 2011 2010 profit f
Page 165 and 166: Equity and liabilities DKK million
Page 167 and 168: DKK million Share capital Hedging r
Page 169 and 170: 01 Basis of reporting The parent co
Page 171 and 172: 04 Staff costs DKK million 2011 201
Page 173 and 174: 06 Finance income DKK million 2011
Page 175 and 176: 09 Property, plant and equipment DK
Page 177 and 178: 12 Equity Share capital composition
Page 179 and 180: 14 Loans and borrowings DKK million
Page 181 and 182: 18 Financial risks DONG Energy A/S
Page 183 and 184: 19 Financial instruments maturity a
Page 185 and 186: fair value hierarchy of financial i
Page 187 and 188: 22 Related party transactions tradi
Page 189 and 190: Independent Auditor’s Report To t
Page 191 and 192: coMPany announceMents IN 2011 Compa
Page 193 and 194: glossaRy relatively low (off-peak).
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