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In an interview with the “Neue Zürcher Zeitung” on Thursday, Sieber said that as soon as Axpo supplies electricity, the money will flow back. The only thing similar is that the federal government acted very quickly in both cases.
In the autumn of last year, Parliament guaranteed Axpo – in the event of an extreme financial emergency – up to four billion francs. Sieber said the company hasn’t touched a single franc from its federal line of credit. The government credit line also means a ban on bonuses for management and the board. Also, there is no dividend.
A few days ago, an external investigation found that there were no “significant shortcomings” in the company’s management. However, it has potential for improvement. The report recommended, for example, to supplement existing risk indicators. Regarding the situation last fall, Sieber said in the current interview: “It was a black swan, it was an unforeseen event.” The company does not plan to change its strategy.
According to Sieber, Axpo and the energy sector are not out of danger yet. “The coming winter may be more difficult than the previous one,” he said. Politicians have improved the framework conditions. Now, among other things, a tracking solution is needed for parliament’s solar attack, which is limited in time and quantity.
(SDA)
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.
