BAKU, Azerbaijan, Nov.7
By Leman Zeynalova – Trend:
Federal Council of Switzerland withdraws valuable funds from Axpo company for investments in energy future, Trend reports with reference to the company.
The Federal Council has adopted the third revision of the Decommissioning and Disposal Fund Ordinance (SEFV), which reduces the real yield of the funds from 2.0 to 1.6 percent.
“The ordinance will enter into force on 1 January 2020. The revision has far-reaching consequences. For Axpo, in the short term it can lead to additional payments into the funds of up to CHF 250 million. Axpo has also decided to make adjustments to the provisions,” said the company.
Axpo said it feels obliged to adjust the parameters of its provisions for post-operation, decommissioning and disposal of the Beznau nuclear power plant. “The financial effects of this adjustment on the operating result are currently being determined; they should be in the high two-digit million range.”
“Axpo considers it inappropriate to reduce the real yield of the funds. It ties up unnecessarily substantial additional funds, which will be lacking for investments in the planned restructuring of the Swiss energy supply.”
The Axpo Group produces, trades and distributes energy to more than 3 million people and several thousand companies in Switzerland and over 30 countries throughout Europe.
The Axpo Group comprises Axpo Holding AG with headquarters in Baden and its subsidiaries Axpo Power AG, Axpo Trading AG, Avectris AG and Centralschweizerische Kraftwerke AG. Axpo is wholly owned by the cantons of Northeastern Switzerland.
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