Switzerland plans to privatise 49% of Axpo

The Swiss government has planned to privatize 49% of Axpo by allowing private investors to buy shares from the Cantons and Cantonal utilities of North East Switzerland. In recent years, the company has struggled with losses as the electricity from its dams and nuclear facilities cost more to generate than the Swiss utility can command on European power markets, which are experiencing low wholesale prices.

The proposed part-privatization plans by the canton of Thurgau would take effect in 2021, subject to the approval of Axpo's government owners, including the cantons of Zurich, Aargau, Glarus and Zug.

Axpo's existing owners would be required to maintain a 51 percent share and would be forbidden from selling for at least five years.