Wednesday , November 6 2024
Home / SNB & CHF / Swiss electricity boss: energy policy not to blame for shortages

Swiss electricity boss: energy policy not to blame for shortages

Summary:
Swiss sockets: currently waiting nervously for the winter ahead. © Keystone / Gaetan Bally The head of the Swiss Federal Electricity Commission (Elcom) reckons a winter energy crisis is virtually unavoidable. However, he said the cause of the problem – war in Ukraine – was also difficult to predict. Speaking to SRF public radio on Saturday, Werner Luginbühl said the “exorbitant rise in electricity prices” was already putting certain Swiss businesses into existential difficulty. The Elcom boss added that while “we are doing everything to ensure there will be no electricity shortages this winter”, the risk has not diminished in recent weeks. On Tuesday, Elcom laid out plans to make hydropower operators hold back more reserves – which would usually be sold on the

Topics:
Swissinfo considers the following as important: , , , ,

This could be interesting, too:

Guillermo Alcala writes USD/CHF slides to test 0.8645 support with US inflation data on tap

Swissinfo writes Swiss central bank posts CHF62.5bn profit

Nachrichten Ticker - www.finanzen.ch writes Trump-Faktor und Marktbedingungen könnten für neuen Bitcoin-Rekord sorgen

Charles Hugh Smith writes Is Social Media Actually “Media,” Or Is It Something Else?

Swiss electricity boss: energy policy not to blame for shortages

Swiss sockets: currently waiting nervously for the winter ahead. © Keystone / Gaetan Bally

The head of the Swiss Federal Electricity Commission (Elcom) reckons a winter energy crisis is virtually unavoidable. However, he said the cause of the problem – war in Ukraine – was also difficult to predict.

Speaking to SRF public radio on Saturday, Werner Luginbühl said the “exorbitant rise in electricity prices” was already putting certain Swiss businesses into existential difficulty.

The Elcom boss added that while “we are doing everything to ensure there will be no electricity shortages this winter”, the risk has not diminished in recent weeks.

On Tuesday, Elcom laid out plans to make hydropower operators hold back more reserves – which would usually be sold on the open market – to help compensate for anticipated shortages in winter.

And on Wednesday, the Swiss government said the country would voluntarily try to reduce its gas usage by 15% this winter, in line with European Union targets. A four-stage plan to deal with a shortage, which could include restrictions on private energy usage, is also being prepared by the Economics Ministry.

Unclear situation

Luginbühl told SRF that it was still too early to say whether the measures will be enough: in the end, unknown factors are in play, including the availability of gas imports, the situation regarding nuclear reactors in neighbouring France, and the severity of the winter.

As for claims that the situation was exacerbated by Swiss energy policy in recent years – notably the goal of phasing out nuclear power – Luginbühl said this wasn’t the case.

“The situation is clearly linked to the war in Ukraine,” he said. All of Europe is in the same situation: “no country is spared”.


Tags: ,,
About Swissinfo
Swissinfo
SWI swissinfo.ch – the international service of the Swiss Broadcasting Corporation (SBC). Since 1999, swissinfo.ch has fulfilled the federal government’s mandate to distribute information about Switzerland internationally, supplementing the online offerings of the radio and television stations of the SBC. Today, the international service is directed above all at an international audience interested in Switzerland, as well as at Swiss citizens living abroad.

Leave a Reply

Your email address will not be published. Required fields are marked *