Switzerland to decide on nuclear power phaseout in favor of renewables

18/05/2017 16:00 Energy Market


This Sunday, Switzerland will go to the polls and decide upon the government’s plan to abandon further development of nuclear power in favor of renewable energy. The focus of the campaign are the costs of the change. The current referendum follows October’s signature campaign organized by the Swiss People’s Party (SVP) who gave the support to contest the Government’s controversial energy plan in a popular vote.

Under the plan named “Energy Strategy 2015”, the centre-right government wishes to interdict the construction of new nuclear plants, while 5 existing ones, counting the oldest operating reactor in the world Beznau I, should be shut down at the end of their technically safe operating life.


Switzerland desires to significantly increase solar, wind, biomass, hydro and geothermal energy. But consumers will have to pay a surcharge on their electricity bills to fund the costs of about 480 million Swiss francs (439 million euros) a year.


Approx. 450 million francs would be earmarked from a current fossil fuels tax to reduce energy use in buildings by 43 % by 2035 compared with year 2000 levels.


At present, renewable resources are just under 5 % in Switzerland’s energy production, compared with 60 % for hydro and 35 percent for nuclear. The new law supposes a rise in the renewable energies from 2,831 GWh now to minimum 11,400 gigawatt hours (GWh) by 2035.


The opposition’s campaign against the plan has mainly concentrated on what clients and taxpayers will pay for the measures and if the 4 times increase in solar and wind power by 2035 would provide the nation with reliable and adequate supplies.

French group Veolia inks 886 mln euros Mexico City deal

22/05/2017 13:46:00

French utility Veolia has inked an agreement with Mexico City estimated at 886 million euros ($991 million) to run a waste incinerator whose heat will be used by the city's subway system, as stated by Veolia on Monday.


Daily (22.05.2017): Oil prices posted a 5% weekly gain on Friday

22/05/2017 11:10:00

Oil futures rose on Friday to the highest level in nearly a month on growing optimism that big producing countries will extend output reductions to curb a persistent glut in crude.


PGE decides to acquire EDF's Polish power plants for $1.2 billion

22/05/2017 10:50:00

Poland's biggest electricity producer PGE has decided to purchase French group EDF's local power and heating plants for 4.51 billion zlotys ($1.2 billion) counting debt, in a move to raise market share and give the state more control over the country's energy assets.