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    Switzerland Power Key View


    May 22, 2022 - Fitch Solutions Sector Intelligence

     

      THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS COUNTRY RISK & INDUSTRY RESEARCH and is NOT a comment on Fitch Ratings' Credit Ratings. Any comments or data are solely derived from Fitch Solutions Country Risk & Industry Research and independent sources. Fitch Ratings analysts do not share data or information with Fitch Solutions Country Risk & Industry Research.

      Switzerland Power Key View

      • 20 May 2022
      • Switzerland
      • Power

      Key View: Switzerland's domestic power sector is highly developed, with a relatively large baseload capacity and a modern grid infrastructure providing near-universal access. While near-term growth remains limited, long-term plans to phase out nuclear power will stimulate opportunities for investment in new capacity, decommissioning nuclear power plants and power grid upgrades. Risk-averse investors will be particularly drawn to the high levels of long-term political and economic stability, as well as the robust energy policy framework and easy access to competitive financing options.

      Headline Power Forecasts (Switzerland 2021-2026)
      Indicator 2021e 2022f 2023f 2024f 2025f 2026f
      Generation, Total, TWh 70.5 71.5 72.0 72.4 72.8 73.1
      Consumption, Net Consumption, TWh 60.5 61.5 62.3 63.1 63.8 64.5
      Capacity, Net, MW 23,589.4 23,731.3 23,888.6 24,020.0 24,125.9 24,215.6
      e/f = Fitch Solutions estimate/forecast. Source: EIA, IRENA, Fitch Solutions

      Latest Updates And Structural Trends

      • The Swiss Federal Council in February 2022 approved a proposal to set up a hydropower reserve system that would obligate alpine dam operators to retain a certain volume of water in their reservoirs to secure the grid against deficits when demand is highest in the winter. Dam operators will be compensated at an agreed but not yet publicised rate. Furthermore, the council has instructed the Federal Department for the Environment, Transport, Energy and Communications to begin planning for the development of peaking power plants to further bolster power security against winter-time deficits. The Federal Electricity Commission has recommended the development of two to three gas-fired power plants with a combined capacity of 1GW.
      • In March 2022, the Swiss government began consultations on its plan to improve renewable energy incentives aimed at promoting growth in the sub-sector. The proposal includes the introduction of investment contributions for wind and geothermal power projects, a restructured investment contribution scale for new and renovated hydropower projects, winter generation bonuses for solar PV plants, new operating cost contributions for biomass plants and a one-time payment mechanism for solar PV plants that are not used for self-consumption. This plan follows from the government's decision to replace the feed-in tariff scheme that is set to expire at end-2022 with an investment contribution plan. Consultations will last until July 8 2022 with entry into force in 2023.
      This report from Fitch Solutions Country Risk & Industry Research is a product of Fitch Solutions Group Ltd, UK Company registration number 08789939 ('FSG'). FSG is an affiliate of Fitch Ratings Inc. ('Fitch Ratings'). FSG is solely responsible for the content of this report, without any input from Fitch Ratings.

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