The business environment for European energy companies such as the Swiss transmission system operator (TSO) Swissgrid is demanding in times of the energy transition and the European market integration. Some political uncertainty factors with regard to networking at European level, the relocation of the company to its new headquarters in the “energy canton” of Aargau, and the revision of the legal framework for the Swiss energy sector were particular challenges for the TSCNET shareholder last year. Nevertheless, the TSO presents solid results at his annual media conference.
An integral element of Swissgrid’s forward-looking infrastructural planning is the “Strategic Grid 2025”. As part of this strategy, Swissgrid began in 2018 with the construction of two important overhead line projects in the cantons of Valais and Aargau. Worth mentioning is the line section at Gäbihübel near Bözberg/Riniken in Aargau, where Switzerland’s first underground cabling on the 380kV voltage level is being implemented. But even with the expansion of its infrastructure, Swissgrid managed to further reduce operating costs thanks to successful efficiency measures.
As far as the key figures are concerned, the company’s net profit rose slightly to CHF65.6m, while earnings before interest and taxes amounted to CHF119.4m, a decrease of 4.4% compared to the previous year. This is attributable to Swissgrid’s consistent reduction of volume and tariff-related timing differences, which led to a decline in invested operating assets. Yves Zumwald, CEO of Swissgrid, comments on the business year in a demanding environment: “Thanks to the consistent implementation of our efficiency measures and the great commitment of our team members, we are able to report a robust result.”