Switzerland’s leaders are concerned by the current volatility of electricity prices and have started planning for a potential disaster scenario, reported RTS.
Photo by Pok Rie on Pexels.comThe war in Ukraine has impacted energy provision across Europe, said Swiss energy minister Simonetta Sommaruga on Thursday. Price movements have reached historical levels and could worsen if gas supplies from Russia stop. If the price of gas spikes, some electricity suppliers could experience a liquidity crunch, setting off a chain reaction across Europe’s highly integrated electricity market.
To avoid bankruptcy and market paralysis, the Federal Council’s plans to create a financial mechanism of last resort to save Switzerland’s systematically important electricity companies in a crunch. We
Read More »