| Alpiq | |
| Type: | Publicly traded limited |
| Foundation: | 2009 |
| Location: | Lausanne, Switzerland |
| Key People: | Antje Kanngiesser (CEO) Johannes Teyssen (Chairman) |
| Num Employees: | 1221 (2023)[1] |
| Revenue: | CHF 8.4 billion (2023)[2] |
| Isin: | CH0285509334 |
| Industry: | Electric utility |
| Products: | energy production, energy trading, renewable energy |
Alpiq is an internationally active energy group headquartered in Lausanne, Switzerland. The company was established in 2009 after the merger of Atel Holding AG (Aare-Tessin AG für Elektrizität) and EOS S.A. (Energie Ouest Suisse).
The energy group employs around 1221 people, is active in most European countries and is considered too big to fail in Switzerland.[3]
The company was formed in February 2009 from the merger of Energie Ouest Suisse (EOS) and Aare-Tessin AG für Elektrizität (Atel).[4]
In 2010, Alpiq became the largest open market electric power trader in Romania, surpassing Alro Slatina, and gaining a 16% market share.[5]
From 2012 to 2016, the company's revenue fell by more than half and Alpiq incurred heavy losses in the area of hydropower. Acting as a wholesaler, the company was affected by a price drop in the wholesale market. Furthermore, unlike other renewable energies, hydropower was not supported by the state.[6] [7] Alpiq therefore announced its intention to sell 49% of the hydropower plants in March 2016, but no buyer was found.
Alpiq tried to sell its Swiss nuclear power plants to EDF in 2016, as the production costs of the nuclear power plants were higher than the electricity prices at the time.[8] [9]
In March 2018, Bouygues acquired Alpiq's energy services business for over CHF 800 million. Following disagreements over the final adjustment amount, arbitration proceedings ensued.[10] This was terminated in 2020 and Alpiq refunded over CHF 50 million to Bouygues.[11]
Until 2019, Alpiq owned two coal-fired power stations in the Czech Republic until they were transferred to investor Pavel Tykač's Seven Energy Group at the end of August 2019, as Alpiq increasingly focused investments on renewable energies. Through the sale of the coal-fired power station, the company reduced its CO2 emissions by 60%.[12] [13]
At a media conference in early April 2019, Alpiq announced that EDF was selling its Alpiq shares. The consortium agreement, which was to be terminated in September 2020, ended early. By the end of May 2019, EOS Holding and Primeo Energie each took over half of the share package, financed by a mandatory convertible loan from Credit Suisse. The aim was to delist Alpiq shares from the Six Swiss Exchange by means of a squeeze-out, and to split Alpiq's share capital.[14] The delisting application was approved by Six Exchange Regulation on 26 November 2019 and the delisting was set for 17 December 2019. On the last day on the stock exchange, the share price was approximately CHF 70.[15]
Alpiq is a public limited company under the Swiss Code of Obligations, with its registered office in Lausanne. As the operator of several power plants, it is active in the fields of energy generation and energy trading.[16] The three shareholder groups EOS Holding SA, Schweizer Kraftwerksbeteiligungs-AG and the consortium of Swiss minority shareholders each hold one third of Alpiq shares.[17]
Alpiq is managed by the Board of Directors and the Executive Board. The Board of Directors is responsible for the supervision of the Executive Board and comprises Johannes Teyssen (Chairman), Jean-Yves Pidoux (Deputy Chairman), Conrad Ammann, Tobias Andrist, Aline Isoz, Ronald Trächsel and Jørgen Kildahl.[18] The Executive Board includes Antje Kanngiesser (CEO), Michael Wider (Deputy of the CEO), Luca Baroni (CFO), Lukas Gresnigt (Head of International) and Navin Parasram (Head of Trading).[19]
In the 2023 financial year, Alpiq generated a revenue of CHF 8.4 billion[20] and employed an average of 1221 people.[21]
Alpiq is active in various countries in Europe. In addition to its headquarters in Switzerland, the company operates further power plants at several locations in Italy, Spain, France, and Hungary.[22] [23] The various nuclear and hydroelectric power plants are located in Switzerland, while the power plants for new renewable energies are located in Switzerland, Italy and France. Other subsidiaries are located in the Czech Republic, Germany and the Nordic countries. Alpiq is also present in Sweden with the development of a new wind farm.
Alpiq is an independent electricity producer and energy trader. The company is active in the business fields of energy generation, trading, and services. Its customers include medium-sized companies, large enterprises and public institutions.[24]
Alpiq uses hydropower, nuclear power, gas-fired and combined cycle power plants and new renewable energy sources such as small hydro, wind, and solar power plants to generate electricity. The company has a production of 17,450 gigawatt-hours (GWh), which breaks down as follows:[25]
The company has interests in two nuclear power plants. Alpiq holds a 40% interest in the Swiss Gösgen Nuclear Power Plant (capacity, 1060 MW) and is in charge of management. It holds a 27.4% stake in the Swiss Leibstadt Nuclear Power Plant (capacity, 1165 MW). In 2016, Alpiq attempted to sell the nuclear power plants.
The most important hydropower plants for Switzerland are the Grande Dixence Dam with a capacity of over 2000 megawatts, and the Nant de Drance Hydropower Plant with a capacity of 900 megawatts. With its capacity of 900 megawatts, the Nant de Drance is one of the most powerful pumped storage plants in Switzerland.[26]
Alpiq Holding operates the following storage power plants:[27]
| Name | Country | Capacity MW | Annual production (million kWh) | Stake (%) | |
|---|---|---|---|---|---|
| Blenio | Switzerland | 400 | 835 | 17% | |
| Cleuson-Dixence[28] | Switzerland | 2069 | 2000 | 72,7% | |
| Emosson | Switzerland | 420 | 835 | 50% | |
| Gougra | Switzerland | 168 | 643 | 54% | |
| Engadiner | Switzerland | 410 | 1418 | 22% | |
| Grande Dixence | Switzerland | 2069 | 2000 | 60% | |
| Hinterrhein | Switzerland | 744 | 1368 | 9,3% | |
| Forces Motrices Hongrin-Léman S.A. (FMHL) | Switzerland | 480 | 1000 | 39,3% | |
| Maggia | Switzerland | 626 | 1265 | 12,5% | |
| Electra-Massa | Switzerland | 340 | 564 | 34,5% | |
| Nant de Drance | Switzerland | 900 | 2000 | 39% | |
| Salanfe S.A. | Switzerland | 70 | 110 | 100% | |
| Simplon | Switzerland | 79 | 238 | 81,9% | |
| Zervreila | Switzerland | 266 | 550 | 21,6% |
Alpiq also owns and operates various run-of-river power plants on the Aare in the cantons of Solothurn, Valais, Bern and Aargau. The run-of-river power plant near Flumenthal has a capacity of 27 megawatts and generates 146 million kilowatt hours of electricity per year. The Gösgen run-of-river power plant near Niedergösgen is one of the largest run-of-river power plants on the Aare, with an annual production of around 300 million kilowatt hours and an output of 51.3 megawatts. On 23 September 2020, the power plant received a new 70-year concession with retroactive effect from 1 January 2020. With an output of 23 megawatts, the Ruppoldingen run-of-river power plant generates 115 million kilowatt hours per year and is certified with the Swiss green electricity label naturemade star.[29]
Alpiq operates the following run-of-river power plants:[30]
| Name | Country | Capacity MW | Annual production (million kWh) | Stake (%) | |
|---|---|---|---|---|---|
| Ruppoldingen | Switzerland | 23 | 115 | 100% | |
| Flumenthal | Switzerland | 23.7 | 146 | 62,1% | |
| Gösgen | Switzerland | 51.3 | 300 | 100% | |
| Ryburg-Schwörstadt | Switzerland | 120 | 705 | 13,5% | |
| Martigny-Bourg | Switzerland | 22 | 89 | 18% |
Alpiq has stakes of up to 100% in gas-fired and combined cycle power plants in Italy, Spain, and Hungary:[31]
| Name | Country | Capacity MW | Annual production (million kWh) | Stake (%) | |
|---|---|---|---|---|---|
| Csepel | Hungary | 403 | 500 | 100% | |
| Novel | Italy | 100 | 602 | 51% | |
| Plana del Vent | Spain | 846 | 662 | 50% | |
| San Severo | Italy | 403 | 1421 | 100% | |
| Vercelli | Italy | 40 | 100% |
In addition to hydroelectric power plants, Alpiq also generates electricity through wind power, small hydroelectric power plants and solar energy. The following table provides an overview of the small hydroelectric power plants in which Alpiq has a stake or owns:[32]
| Name | Country | Capacity MW | Annual production (million kWh) | Stake (%) | |
|---|---|---|---|---|---|
| Alagna Valsesia | Switzerland | 4.6 | 9 | 90% | |
| Bätterkinden | Switzerland | 0.37 | 2.47 | 65% | |
| Brüggmühle and Sittermühle | Switzerland | 0.283 | 1.22 | 100% | |
| Buchholz | Switzerland | 0.14 | 0.53 | 23% | |
| Cotlan | Switzerland | 2.6 | 12.5 | 60% | |
| Büttenen 1&2 | Switzerland | 0.895 | 5.43 | 100% | |
| Eisenhammer | Switzerland | 0.24 | 0.84 | 100% | |
| Freienstein | Switzerland | 0.61 | 2.27 | 18% | |
| Grüneta | Switzerland | 0.198 | 1.41 | 100% | |
| Hagerhüsli | Switzerland | 0.5 | 2.85 | 65% | |
| Hämmerli | Switzerland | 0.1 | 0.5 | 23% | |
| Hüscherabach | Switzerland | 1.9 | 6.1 | 60% | |
| Lavinuoz | Switzerland | 2.9 | 10.8 | 25% | |
| Le Bayet | France | 2.5 | 6.2 | 100% | |
| Model | Switzerland | 0.418 | 2.51 | 49% | |
| Moos | Switzerland | 0.88 | 5.74 | 100% | |
| Matzingen | Switzerland | 0.105 | 0.64 | 100% | |
| Meyerhans | Switzerland | 0.42 | 2.45 | 49% | |
| Murkart | Switzerland | 0.325 | 1.48 | 100% | |
| Nenzlingen | Switzerland | 0.34 | 1.43 | 100% | |
| Peist | Switzerland | 0.295 | 1.2 | 51% | |
| Riein | Switzerland | 0.015 | 0.07 | 100% | |
| Riva Valdobbia | Italy | 1.0 | 8.5 | 90% | |
| Seon | Switzerland | 0.072 | 0.41 | 75% | |
| Striempel | Switzerland | 0.014 | 0.046 | 100% | |
| Tambobach | Switzerland | 1.835 | 7.85 | 70% | |
| Tomils | Switzerland | 0.038 | 0.129 | 100% | |
| Trans | Switzerland | 0.022 | 0.09 | 100% | |
| Walzmühle | Switzerland | 0.062 | 0.37 | 100% | |
| Widen | Switzerland | 0.77 | 4.4 | 49% |
In 2022, Alpiq, together with the municipality of Gondo-Zwischbergen and Energie Electrique du Simplon, launched the Gondosolar project to install solar modules in Alpjerung near the municipality of Gondo.[33] [34] Alpiq is also involved in other projects for the installation of high-alpine photovoltaic systems, such as the Prafleuri and Grimentz Solaire projects.[35] [36] Alpiq operates several solar power plants in Switzerland, France, and Italy:[37]
| Name | Country | Capacity MW | Annual production (million kWh) | Stake (%) | |
|---|---|---|---|---|---|
| Kestenholz | Switzerland | 1.183 | 1.13 | 100% | |
| La Chaux | Switzerland | 0.564 | 0.6 | 100% | |
| Ponthaux | Switzerland | 0.511 | 0.5 | 100% | |
| Ruppoldingen | France | 0.111 | 0.1 | 100% | |
| Società Agricola Solar Farm 2 | Italy | 5.190 | 7 | 100% | |
| Società Agricola Solar Farm 4 | Italy | 8.408 | 13.5 | 100% |
Alpiq is also involved in the development of new wind farms in Sweden. In December 2020, Alpiq and the Swiss company Future Generation Renewable Energy (Fu-Gen) concluded a co-ownership agreement for the Tormoseröd wind farm developed by Alpiq in south-west Sweden.[38] Alpiq operates wind farms in Italy, France, and Switzerland:[39]
| Name | Country | Capacity MW | Annual production (million kWh) | Stake (%) | |
|---|---|---|---|---|---|
| Roca Rossa | Italy | 84 | 127 | 100% | |
| Cers | France | 11.5 | 36 | 15% | |
| Cattolica Eraclea | Italy | 40 | 56 | 100% | |
| Roussas-Gravières | France | 10.5 | 21 | 100% | |
| Le Peuchapatte | Switzerland | 6.9 | 13.5 | 100% | |
| Ennese | Italy | 70.5 | 111 | 100% | |
| Monte Mele | Italy | 9 | 12 | 100% |
In 2018, Alpiq generated an average of 298 grams of CO2 equivalents and 19 cubic millimeters of nuclear waste per kilowatt-hour. Alpiq was the worst performer among the largest energy companies, with an average of 347 environmental impact points (EIP).[40] The sale of the last two coal-fired power plants in the Czech Republic in the same year reduced Alpiq's CO2 emissions scrap by 60%.
During the construction of the Nant de Drance pumped storage power plant, a total of CHF 22 million were invested in ecological compensation measures, in cooperation with WWF and Pro Natura. The measures included, above all, the restoration of wetland biotopes to enable the recolonization of endangered or rare animal and plant species.[41]
Alpiq also operates a joint venture with the company Hydrospider, which uses an electrolysis plant at the Gösgen hydroelectric power plant to produce green hydrogen.[42]
Alpiq is also committed to environmental protection at the company's own power plants. In rivers downstream of hydroelectric power plants, there is often a lack of bed load, which is considered the habitat of many aquatic creatures. To counteract the bed load deficit in the Aare downstream of the Ruppoldingen hydroelectric power plant and protect the habitat, Alpiq poured a total of 6,000 cubic meters of gravel into the river in 2021. The Ruppoldingen hydroelectric power plant is also naturemade star certified, the highest award for green electricity in Switzerland. For every kilowatt-hour sold from the power plant with proof of origin, money is paid into the Alpiq eco-fund. These funds are then used to support ecological upgrading and improvement measures. More than CHF 5 million have been invested in such measures, including revitalization measures on the Witibach in Grenchen and ecological upgrading on the Aare.[43]