War in Iran puts pressure on Swiss gas imports
Keystone-SDA
The war in Iran and the blocking of the Strait of Hormuz pose a risk to the security of Switzerland’s electricity supply over the winter.
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The trend in electricity and gas prices is also uncertain, warned the Swiss Federal Electricity Commission (ElCom).
Gas-fired power stations play an important role in ensuring security of supply in Europe, ElCom stated.
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But gas storage levels in Europe are currently relatively low. And the war in Iran casts doubt on the extent to which stocks will be replenished between now and the start of winter.
However, market prices are currently well below those seen during the 2021/2022 crisis years. ElCom explained that this is due to two factors in particular.
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Liquefied natural gas terminal capacity is larger in Europe, which has greater flexibility when it comes to importing gas. In addition, the capacity of French nuclear power plants is exceptionally high.
For ElCom, however, there remains a risk to supply if the closure of the Strait of Hormuz is prolonged, if European stocks are only filled to a limited extent, or if the winter is particularly cold.
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Adapted from French by AI/mga
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