Derivative instruments

Fair values of derivative instruments

   

31 Mar 2016

 

31 Mar 2015

31 Dec 2015

M€

Positive

Negative

Net

Net

Net

Interest rate derivatives

     
 

Interest rate swaps, cash flow hedges

0.6

-61.8

-61.2

-48.1

-40.9

 

Interest rate options, cash flow hedges

0.0

0.0

0.0

0.0

0.0

 

Interest rate derivatives, not in hedge accounting

0.0

-10.1

-10.1

-10.0

-7.6

       

Electricity derivatives

0.4

-2.0

-1.6

-1.0

-1.2

       

Total

1.0

-73.9

-72.9

-59.1

-49.7

       

Nominal values of derivative instruments

M€

31 Mar 2016

31 Mar 2015

31 Dec 2015

Interest rate derivatives

   
 

Interest rate swaps, cash flow hedges

710.1

486.0

690.4

 

Interest rate options, cash flow hedges

0.0

0.0

0.0

 

Interest rate derivatives, not in hedge accounting

38.0

38.8

38.0

Total

748.1

524.8

728.4

     

Electricity derivatives, MWh

250,714

226,823

245,494

     


The interest risk of the market loans and commercial papers is hedged with interest rate derivatives according to VVO Group’s treasury policy. The targeted hedging ratio is 50–100%. The hedging ratio was 72 (65) per cent at the end of the review period and the average maturity of the interest rate derivatives was 7.2 (5.5) years.

 

 

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