Parliament has decided not to extend the bailout package for electricity companies
Keystone-SDA
The bailout scheme for systemically important electricity companies in times of crisis will not be extended. On Thursday, parliament declined to consider a proposal to that effect from the government.
Following the House of Representatives, the Senate also rejected the proposal to extend the Federal Act on Subsidiary Financial Assistance for the Rescue of Systemically Important Companies in the Electricity Sector. The Senate thus followed the recommendation of its preparatory committee.
As the government also did not stand by its proposal – to extend the validity of the rescue package by five years until the end of 2031 – a vote was not held. The Act has been limited in duration until the end of 2026 and will therefore expire on December 31, 2026.
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Committee Chair Thierry Burkart emphasised that it is not the government but the companies and their owners who are responsible for taking appropriate precautions for crisis situations.
The so-called rescue package had been brought into force by parliament as a matter of urgency during the autumn session of 2022. This was due to extreme price rises on the energy markets. There were fears that large electricity companies would no longer be able to provide the security deposits required for trading, which would have jeopardised Switzerland’s electricity supply. To date, no federal loans have actually been drawn down.
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Translated from German, reviewed by an English Department journalist.
