Annual report - HSE

Risk of investment activities
The key risks of the replacement Unit 6 at TEŠ are:
• Risk related to acquisition of financing sources necessary for Unit 6 construction;
• Risks related to investment value of the project;
• Risks that the project will not be terminated in accordance with time schedule;
• Risk of lack of coal or its quality;
• Market risk related to the price of electricity and emission coupons; and
• Risk that environmental legislation will become stricter.
Risk profile
sources of finance
25
20
environmental
legislation
15
10
5
0
investment value
coal
time schedule
market risk
All key risks detected have been examined and their probability has been determined.
The potential emerging risks have been managed with the risk analysis and its consistent
monitoring.
Successful risk management is supported also by the fact, that at the beginning of 2013
TEŠ started to draw the EUR 440 million EIB loan and the EUR 117.5 million EBRD loan.
It is estimated that the R&R risks were appropriately managed, considering the given
limitations.
Human resources risk
The company’s activities, its intensive growth and the implementation of strategic plans
require its employees to constantly improve their existing knowledge, acquire new skills
and competences, and demonstrate a dynamic, multidisciplinary approach, self-initiative
and the ability to work in a team.
Annual Report HSE 2012
2 Business Report
90
The risk of potential loss of key employees is considered the main human resources risk.
This can only be prevented through good management and communication with/among
employees, continuous professional growth and motivation, and through stimulating
working conditions and environment. According to our estimates, the exposure to HR risk
is low and relevant risks have been managed appropriately.
Data secutiy
All risks are stated in the HSE registry of risks per individual year. We have assessed risks of
intangible assets, software, data bases, paper documents, locations people and services.
It is estimated that the information security risks have been appropriately managed, taking
into account given limitations.