From January to September 2022, the Swiss energy industry has already earned around CHF 5.3 billion from electricity exports. This is two and a half times more than in the same period last year. Compared to 2020, revenue has nearly fivefolded.
Germany, France and Austria are also customers
In September alone, energy suppliers exported electricity worth CHF 560 million. This is illustrated by an analysis of the AWP news agency based on foreign trade data released Thursday by the Federal Office of Customs and Border Security (BAZG).
By far the most important buyer of Swiss electricity is Italy. In September, Italy imported over 1,700 gigawatt hours of Swiss electricity worth CHF 370 million. That’s about ten percent more than usual and almost half of Switzerland’s final consumption in the same month. This can be deduced from the available data of the network operator Swissgrid.
In addition to Italy, Germany, France and Austria also rely on Swiss electricity to a lesser extent. About two-thirds of the electricity exported last year flowed to Italy.
still a bad deal
Electricity can only be stored to a very limited extent. There was a greater energy surplus for foreign trade, as Swiss households and companies used 13 percent less electricity than usual in September. Switzerland exported 4.4 percent more electricity last month than the same month last year, according to Swissgrid data.
As electricity has become significantly more expensive in recent months, spending on electricity imports has also skyrocketed. So far in 2022, Switzerland has purchased electricity worth around CHF 5.6 billion. Spending has more than tripled from the previous year.
Overall, unlike in previous years, Switzerland spent slightly more on electricity imports in 2022 than it earned from exports.
2.6 billion for electricity from France
It is dependent on electricity imports from Switzerland, France and Germany, especially during the winter months. In France, much less electricity is produced than usual due to various problems with nuclear power plants. So far, Switzerland has paid more than ever 2.6 billion francs for electricity from France in 2022. (SDA/shq)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
