BKW boss: Switzerland well positioned for electricity supply in winter
Published: Thursday, Nov 30th 2023, 10:00
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BKW CEO Robert Itschner says that the energy markets remain challenging, but that Switzerland is well positioned for the winter. According to him, this is also due to relatively low electricity consumption.
"The current market situation in the energy sector is challenging, characterized by strong price fluctuations and occasionally high peaks," said Itschner in an interview with the financial portal "Cash" published on Thursday. He cited the challenging geopolitical situation, the increasing share of renewable, weather-dependent energy sources and the general dynamics of the market as factors.
"Although the current supply situation is tight, it looks as if we are well positioned for the coming winter." The fact that the demand for electricity is currently still reduced makes him confident. At the same time, the water and gas storage facilities are well filled and the power plants are readily available.
However, the situation could also change quickly. "The risk of an electricity shortage in winter depends heavily on weather conditions and the availability of power plants throughout Europe."
Electricity agreement with EU central
In this context, he also emphasized in the interview how important an electricity agreement between Switzerland and the EU is. "Without such an agreement, we face challenges such as potentially reduced import capacities and unplanned electricity flows, which could affect grid stability and security of supply in Switzerland."
Meanwhile, he is skeptical about calls from politicians for new nuclear power plants in Switzerland. For one thing, there is a "technology ban" in this country. "I also doubt that we have the necessary broad consensus for the construction of new nuclear power plants in Switzerland," said Itschner. Current surveys also confirm this.
However, the CEO confirmed BKW's dividend policy with a payout ratio of 40 to 50 percent. "In recent years, BKW has paid a continuously increasing dividend. We want to continue this", he said.
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