You are here: Home » Reuters » News
Business Standard

Factbox - Swiss energy law aims to boost renewables, ban new nuclear plants

Reuters  |  ZURICH 

ZURICH (Reuters) - votes on Sunday on a new law, titled "Strategy 2050," that includes billions of francs in subsidies to support new renewable supplies and efficiency, while banning new nuclear power plants.

Highlights of the are below:

* Aims to increase solar, wind, biomass and geothermal output from 2,831 gigawatt hours (GWh) now, or just 4.3 percent of generation, to 11,400 GWh by 2035.

* Bans new nuclear power plants ahead of the eventual phase out of Switzerland's five plants, with the first closing in 2019.

* Hikes charges on electricity users to raise 480 million francs a year to subsidise production from solar, wind, biomass, geothermal and water power.

* Provides 120 million francs ($122.21 million) a year to loss-making hydroelectric utilities to help them compete and another 60 million francs to subsidise new hydro plants or refurbish older ones.

* Offers 450 million francs a year, up from 300 million francs, to support a building efficiency initiative. Funds will be raised from an existing fossil fuels tax.

* Elevates renewables to "national interest" status, helping them overcome legal challenges over a project's environmental or aesthetic impact.

($1 = 0.9819 francs)

(Reporting by John Miller; Editing by Edmund Blair)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)