Could the energy sector have made record profits thanks to excessively high electricity prices? This is what the “SonntagsBlick” says on Sunday. Swissgrid, the national company responsible for operating the 6,700 km high voltage network in Switzerland, records millions in profits year after year. Since 2014, this represents a total of 788 million francs, notes the newspaper.
But only part of this sum was reinvested in the system. While 319 million were paid to shareholders in the form of dividends. And the two giants Axpo and BKW, which own more than two thirds of Swissgrid, received, between them, 200 million francs.
Swissgrid justifies itself by the fact that Axpo, BKW and the others had to cede “ownership and responsibility” for the Swiss network to it from 2013. Furthermore, the company does not consider itself responsible for the profits made: “Our business model is fully regulated and imposed by the legislator,” according to a spokesperson.
Certainly. But the law makes no provision for the amount of dividends paid to shareholders, the newspaper recalls. It is the general meeting of Swissgrid which decides, with Axpo and BKW as main shareholders.
The Federal Electricity Commission Elcom, which oversees Swissgrid, recognized the need for action. She believes that energy groups have been paid too generous rates for years. The Federal Council would be of the same opinion and would propose adapting the method of calculating these rates. The costs of using the network for households and businesses could thus be reduced by 127 million francs per year from 2026.
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