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Energy – Alpiq blows sales of hydropower portfolio News

Monday, August 28th, 2017 | Economy

In addition, the Group expanded its loss in the first half of 2017. The net loss is 109 million Swiss francs, as Alpiq reported on Monday. In the previous year, it was still CHF 2 million. If expenses relating to arbitration proceedings, provisions, sales of company shares and other special items are eliminated, the loss amounts to CHF 5 million, compared to a profit of CHF 41 million in the previous year.
Alpiq is among other things to notice the euro rate reversal of January 2015. The currency hedging transactions concluded before the decision of the Swiss National Bank (SNB) are now running out. In addition, the unscheduled standstill of the Leibstadt nuclear power plant is a testament to the result.
Alpiq announced on Monday that its hydropower portfolio will not be sold in part. At the beginning of March, the Group had announced plans to do so.
However, potential investors are not prepared to share the imponderable regulatory risks pro rata, the Group writes. Alpiq was unable to obtain the desired price, the contractual terms and transaction security.
Added to this is the latest political discussion on the support of hydropower. Therefore, the Board of Directors has now decided to suspend the process of opening up the hydropower portfolio for investors.
(SDA)

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