30 Sep 2016 | 30 Sep 2015 | 31 Dec 2015 | ||||
M€ | Positive | Negative | Net | Net | Net | |
Interest rate derivatives | ||||||
Interest rate swaps, cash flow hedges | 0.4 | -82.8 | -82.5 | -42.7 | -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 | -11.6 | -11.6 | -7.8 | -7.6 | |
Electricity derivatives | 0.2 | -0.9 | -0.7 | -1.5 | -1.2 | |
Total | 0.6 | -95.4 | -94.9 | -52.0 | -49.7 | |
M€ | 30 Sep 2016 | 30 Sep 2015 | 31 Dec 2015 | |
Interest rate derivatives | ||||
Interest rate swaps, cash flow hedges | 1,007.19 | 607.5 | 690.4 | |
Interest rate options, cash flow hedges | 0.0 | 0.0 | 0.0 | |
Interest rate derivatives, not in hedge accounting | 166.3 | 38.3 | 38.0 | |
Total | 1,173.50 | 645.8 | 728.4 | |
Electricity derivatives, MWh | 218,123 | 282,330 | 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 71 (71) per cent at the end of the review period and the average maturity of the interest rate derivatives was 6.3 (7.2) years.
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