Axpo Boss: Company Hasn't Yet Made Use Of Government Bailout| MENAFN.COM

Thursday, 08 December 2022 08:57 GMT

Axpo Boss: Company Hasn't Yet Made Use Of Government Bailout


(MENAFN- Swissinfo) The nuclear plant at Beznau, northern Switzerland, operated by Axpo. © Keystone / Michael Buholzer

The president of Axpo's board of directors Thomas Sieber says the Swiss energy company is determined to try to get through the liquidity crisis on its own steam.

This content was published on September 24, 2022 - 17:20 September 24, 2022 - 17:20 CH-Media/Keystone-SDA/dos

Faced by skyrocketing costs on international energy markets, Axpo was granted a CHF4 billion ($4.1 billion) credit line by the Swiss government earlier this month, a decision Energy Minister Simonetta Sommaruga said was to prevent any financial“wildfires” engulfing crucial energy companies.

In an interview published by newspapers in the CH-Media group on Saturday, Thomas Sieber said that the company still hadn't touched“a single franc” of it. The bailout funds represent“added security in an extreme situation on energy markets”, Sieber said. But Axpo would“do everything possible to manage through its own means”.

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