Alpiq is the main Swiss power company formed from the merger of Atel and EOS in 2008.

Selected Assignments

Group Risk Policies

Over a 12 month period, we provided subject matter expertise and implementation support on a comprehensive review and development of risk governance and policies. The new Group Risk Policy and supporting policy manuals (market, credit and business risk) were subsequently approved by the Executive Board and the Alpiq Board of Directors.

We assisted Alpiq to enhance their approach and methodology in several key areas, as well as to draft new policy documents. The scope of services delivered during this assignment included the review and development of:

The enterprise-wide framework for risk management including corporate risk governance, and roles and responsibilities;
The setting, allocating, and charging for Group-level risk capital;
Market risk management, including book structure and position transfers, transfer pricing, hedging policy, limits and controls, and market risk measurement;
Credit risk management, including the rating and approval of new counterparties, credit limits, security/collateral requirements, and credit risk measurement;
Liquidity risk management in terms of measuring, managing and controlling the cash-flow uncertainty stemming from cash margining;
A new products process covering appraisal, prioritisation, and approval of wholesale and supply products, ranging from standard instruments to complex (structured) transactions; and
Investment and transaction risk including methodology for appraising the risk of large investments and transactions and integrating such (longer term) risks within the operational framework for risk management.

As part of this work, new approaches were developed in several areas including:

The basis for linking risk capital and appetite directly to P&L and balance sheet metrics, and the allocation of such capital across the group;
Internal pricing of risk and liquidity to ensure effective utilisation of capital resources which, by definition, are neither unlimited nor free;
Management of margining/collateral and establishment of an integrated framework for controlling market, credit, and liquidity risks; and
Assessment of investment and project risk, and integration of such longer-term risks within the operational risk management framework.

All Clients

Our Services

ESP Consulting London

119 Blackborough Road
Reigate
Surrey
RH2 7DH

Tel : +44 (0) 7501 720 878
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ESP Consulting Benelux

Prinsengracht 846
3rd floor
Amsterdam
1017 JM

Mob : +31 (0) 6 1130 9750
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