Overview of the credit line

Due to the unprecedented turmoil on the European energy markets and the unpredictable further developments, the Swiss government, at Axpo's request, granted a credit line of up to CHF 4 billion at the beginning of September. The credit line is subordinated to existing financings and does not require any security. It ensures that, should the situation intensify further, Axpo is in a position to cover the collateral requirements of long-term power supply contracts concluded with its customers, and continue contributing to Switzerland’s security of energy supply. Axpo has not made any drawdowns to date.

On this page you will find interviews and background information on the credit line and the mechanisms in energy trading. 

All about the credit line

Ad hoc announcement 06.09.2022

Swiss government grants Axpo a subordinated credit line of up to CHF 4 billion

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Energy market 30.09.2022

Bailout funds in Europe

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Ad hoc announcement 24.10.2022

Axpo increases unsecured committed syndicated credit lines with banks to EUR 6.0 billion

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An unprecedented year

Additional material & downloads

About energy trading and hedging

Supply security: a combination of production, trade and market

Switzerland’s current energy supply has grown historically. The system has been continuously adapted and improved due to technological and social changes. The interaction between trade and production is of fundamental importance. An analysis by Polynomics has come to the conclusion that trading increases not only efficiency, but ultimately also supply security.

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Market distortions of the past months

Axpo in a ‘perfect storm’

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Inextricable link between electricity production and trading

Business model combines strengths in production and trading

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How hedging works in energy markets

A guide to initial margins and variation margins

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7 things you need to know about hedging electricity prices

The most important facts about electricity, gambling, hedging and rescue umbrellas

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Power trading - so simple, so complex

Over the counter, on the exchange: where market players meet

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The protection of electricity production

In conversation (German only)

Interviews of Axpo executives


Interviews with independent experts

  • Interview with Leon Hirt NZZ, 27.9.22