02/12/2021, 18:00
| Ad hoc announcement pursuant to Art. 53 LR
Lausanne, 12 February 2021 – According to rulings issued by the Swiss Federal Electricity Commission (ElCom) on 9 February 2021, Alpiq will receive additional compensation for the transfer of its stake in the Swiss extra-high-voltage grid to Swissgrid AG in January 2013, as well as a coverage difference relating to grid fees for 2011 and 2012. In its 2020 financial statements, Alpiq will record additional sales proceeds of approximately CHF 40 million plus interest.
At the beginning of January 2013, Alpiq transferred its stake in the Swiss extra-high-voltage network to Swissgrid AG, the national grid operator, at a provisional transfer value. The value of the individual assets could not be conclusively determined at that time, since valuation-related proceedings were still pending. In addition, in the 2016 financial year, Alpiq received additional compensation for the transfer of its stake in the Swiss extra-high-voltage grid as a result of ElCom’s revised ruling on the valuation method.
ElCom’s rulings issued on 9.2.2021 have now determined the coverage differences for 2011 and 2012, as well as the regulatory values of the assets effective at the end of 2012. Both Alpiq and Swissgrid can appeal against these rulings to the Federal Administrative Court within 30 days. In its 2020 financial statements, Alpiq will record additional sales proceeds totalling approximately CHF 40 million plus approximately CHF 10 million in interest.
Definitive valuation expected for 2021
Once the rulings are legally binding, Swissgrid will transfer the 2011 and 2012 coverage differences to Alpiq, and an independent company will calculate the definitive amount of the compensation including interest. Alpiq expects the calculations to be finalised in the second half of 2021. This is expected to result in a further positive effect for Alpiq.
Alpiq welcomes the fact that this decision brings to a close a process that has lasted several years concerning the compensation for the transfer of the Swiss extra-high-voltage grid.
Find more information about Alpiq on www.alpiq.com
