Swissgrid reports solid results


According to Yves Zumwald, CEO of the Swiss transmission system operator (TSO) Swissgrid, the TSCNET shareholder looks back on a “solid financial year in a challenging environment in 2017”. Since the changes in the European and Swiss energy system increase the demands on secure grid operation, Swissgrid has been preparing for the future in 2017 by introducing the “Strategy 2022”. This strategy maps out the development and implementation of important measures for the continuing security of Switzerland’s electricity supply.

Due to the reduction in the Weighted Average Cost of Capital (WACC), the earnings before interest and taxes and the financial result decreased in 2017 in comparison to the preceding year. At the same time, the Swiss TSO managed to reduce operating expenses thanks to successful efficiency measures. Beyond that, important infrastructural milestones were realised in 2017, including the commissioning of a power line section between Châtelard and La Bâtiaz in the Swiss Canton Valais to transport the electricity generated by the new Nant de Drance pumped storage power plant. However, the extension of the transmission system is still not proceeding quickly enough and important projects are stuck in the planning and approval stage due to outer conditions.

> See Swissgrid media release (html, with access to annual report)

Picture: Swissgrid