The Swiss authorities have cancelled a CHF4 billion ($4.6 billion) emergency credit line to key energy provider, Axpo, which no longer needs the financial back-up.
In autumn 2022, the federal government made the billions available to Axpo. The untapped lifeline was revoked on December 1 as it is no longer needed.
Axpo had announced that it was no longer dependent on the credit line, the Swiss energy ministry announced on Monday.
Since the decree was issued, key factors have changed significantly. The electricity company is now significantly less susceptible to unexpected and difficult to predict market upheavals. ...