Alpiq is an internationally active energy group headquartered in Lausanne, Switzerland. The company was established in 2009 after the merger of Atel Holding AG (Aare-Tessin AG für Elektrizität) and EOS S.A. (Energie Ouest Suisse).
The energy group has around 1,400 employees, is active in most European countries and is considered too big to fail in Switzerland.
History The company was formed in February 2009 from the merger of Energie Ouest Suisse (EOS) and Aare-Tessin AG für Elektrizität (Atel).Lavoyer, Sébastian (2023-02-04). "Im Hirn von Alpiq, wo Milliarden umgesetzt werden. Aargauer Zeitung (in German). Retrieved 2023-06-27.
In 2010, Alpiq became the largest open market electric power trader in Romania, surpassing Alro Slatina, and gaining a 16% market share.
From 2012 to 2016, the company's revenue fell by more than half and Alpiq incurred heavy losses in the area of hydropower. Acting as a wholesaler, the company was affected by a price drop in the wholesale market. Furthermore, unlike other renewable energies, hydropower was not supported by the state. Alpiq therefore announced its intention to sell 49% of the hydropower plants in March 2016, but no buyer was found.
Alpiq tried to sell its Swiss nuclear power plants to EDF in 2016, as the production costs of the nuclear power plants were higher than the electricity prices at the time."Alpiq will AKW Leibstadt und Gösgen verschenken". Aargauer Zeitung (in German). 2016-11-07. Retrieved 2023-06-27.
In March 2018, Bouygues acquired Alpiq's energy services business for over CHF 800 million. Following disagreements over the final adjustment amount, arbitration proceedings ensued. This was terminated in 2020 and Alpiq refunded over CHF 50 million to Bouygues.
Until 2019, Alpiq owned two coal-fired power stations in the Czech Republic until they were transferred to investor Pavel Tykač's Seven Energy Group at the end of August 2019, as Alpiq increasingly focused investments on renewable energies. Through the sale of the coal-fired power station, the company reduced its CO2 emissions by 60%.
At a media conference in early April 2019, Alpiq announced that EDF was selling its Alpiq shares. The consortium agreement, which was to be terminated in September 2020, ended early. By the end of May 2019, EOS Holding and Primeo Energie each took over half of the share package, financed by a mandatory convertible loan from Credit Suisse. The aim was to delist Alpiq shares from the Six Swiss Exchange by means of a squeeze-out, and to split Alpiq's share capital.Millischer, Sven (2019-04-11). "Der Squeeze-out-Plan". Handelszeitung (in German). Retrieved 2023-06-27. The delisting application was approved by Six Exchange Regulation on 26 November 2019 and the delisting was set for 17 December 2019. On the last day on the stock exchange, the share price was approximately CHF 70.
Since the mid-2020s, Alpiq has expanded into battery energy storage systems. In October 2025, the company commissioned its first wholly owned battery storage facility in Finland. It acquired another facility in France in early 2026 and a 90% stake in the British battery storage developer and operator Harmony Energy in July 2026.
Company structure Alpiq is a public limited company under the Swiss Code of Obligations, with its registered office in Lausanne. As the operator of several power plants, it is active in the fields of energy generation and energy trading. As of 31 December 2025, the three shareholder groups EOS Holding SA, Schweizer Kraftwerksbeteiligungs-AG and the consortium of Swiss minority shareholders each held one third of Alpiq shares.Mathys, Urs (2019-07-16). "Neuer Aktionär setzt aufs Wasser". Aargauer Zeitung (in German). Retrieved 2023-10-23.
Since 1 January 2026, Alpiq has had three business divisions: Assets, Trading and Energy Solutions. Assets operates power plants and storage facilities used to generate electricity. Trading handles electricity trading in Europe and the optimisation of Alpiq's power plants. Energy Solutions provides products and services for customers, including the direct marketing of renewable electricity and power purchase agreements.
Alpiq is managed by the Board of Directors and the Executive Board. The Board of Directors is responsible for the overall management and strategic direction of the Alpiq Group as well as for supervising the Executive Board. As of August 2026, its members were Johannes Teyssen (Chairman), François Gabella (Deputy Chairman), Adrian Honegger, Christian Plüss, Adèle Thorens Goumaz, Jørgen Kildahl and Ronald Trächsel. As of August 2026, the Executive Board consisted of Antje Kanngiesser (CEO and interim Head of Energy Solutions), Peter-Wim Gerssen (CFO), Amédée Murisier (Head of Assets) and Morgane Trieu Cuot (interim Head of Trading).
In the 2025 financial year, Alpiq generated revenue of around CHF 5.9 billion and employed 1,417 people.
Sites Alpiq is active in various countries in Europe. In addition to its headquarters in Switzerland, the company operates further power plants at several locations in Italy, Spain, France, and Hungary.Lavoyer, Sébastian. (2019-08-27). "Verkauf von Kohlekraftwerken beschert Alpiq Millionen-Verlust". Aargauer Zeitung (in German). Retrieved 2023-10-23. The various nuclear and hydroelectric power plants are located in Switzerland, while the power plants for new renewable energies are located in Switzerland, Italy, France and Sweden. Other subsidiaries are located in the Czech Republic, Germany and the Nordic countries.
Activities Alpiq is an independent electricity producer and energy trader. The company is active in the business fields of energy generation, trading, and services. Its customers include medium-sized companies, large enterprises and public institutions."Alpiq zieht zwei Grossaufträge aus Deutschland an Land". Aargauer Zeitung (in German). 2016-11-24. Retrieved 2023.06.27.
Alpiq uses hydropower, nuclear power, gas-fired and combined cycle power plants and new renewable energy sources such as small hydro, wind, and solar power plants to generate electricity. In 2025, Alpiq produced 14,860 gigawatt-hours (GWh) of electricity, which broke down as follows:
7001 GWh hydropower (47%) 4546 GWh nuclear power (31%) 2990 GWh conventional thermal power plants (20%) 323 GWh wind and photovoltaic power (2%).
Nuclear power plants The company has interests in two nuclear power plants. Alpiq holds a 40% interest in the Swiss Gösgen Nuclear Power Plant (capacity, 1060 MW) and is in charge of management. It holds a 27.4% stake in the Swiss Leibstadt Nuclear Power Plant (capacity, 1165 MW). In 2016, Alpiq attempted to sell the nuclear power plants.
Hydropower plants
Reservoir and pumped-storage plants can respond to changes in demand and help stabilise power grids by supplying electricity when solar and wind generation is low.
Alpiq is involved in a number of hydropower expansion projects. Grande Dixence SA, in which Alpiq holds a 60% interest, is planning the Gornerli multipurpose reservoir above Zermatt, with a storage volume of around 120 million cubic metres. At the Moiry and Emosson reservoirs, the dams are planned to be raised by 9 and 10 metres respectively, which is intended to increase storage capacity by a total of more than 165 gigawatt-hours. In February 2026, Alpiq acquired the Navaleo pumped-storage project in Castile and León, Spain, with a planned capacity of 535 megawatts.
Storage power plants The most important hydropower plants for Switzerland are the Grande Dixence Dam with a capacity of over 2000 megawatts, and the Nant de Drance Hydropower Plant with a capacity of 900 megawatts. With its capacity of 900 megawatts, the Nant de Drance is one of the most powerful pumped storage plants in Switzerland.
Alpiq Holding operates the following storage power plants:
+ Storage power plants Name Country Capacity MW Annual production(million kWh) Stake (%) Blenio Switzerland 400 835 17% Cleuson-DixenceCleuson-Dixence and Grande Dixence have a combined capacity of 2069 MW and a combined annual production of 2 TWh Switzerland 2069 2000 72,7% Emosson Switzerland 420 850 50% Gougra Switzerland 168 643 54% Engadiner Switzerland 410 1418 22% Grande Dixence Switzerland 2069 2000 60% Hinterrhein Switzerland 744 1368 9,3% Forces Motrices Hongrin-Léman S.A. (FMHL) Switzerland 480 1000 39,3% Maggia Switzerland 626 1265 12,5% Electra-Massa Switzerland 340 564 34,5% Nant de Drance Switzerland 900 39% Salanfe S.A. Switzerland 70 110 100% Simplon Switzerland 80 258 82% Zervreila Switzerland 266 550 21,6%
Run-of-river power plants Alpiq also owns and operates various run-of-river power plants on the Aare in the cantons of Solothurn, Valais, Bern and Aargau. The run-of-river power plant near Flumenthal has a capacity of 27 megawatts and generates 146 million kilowatt hours of electricity per year. The Gösgen run-of-river power plant near Niedergösgen is one of the largest run-of-river power plants on the Aare, with an annual production of around 300 million kilowatt hours and an output of 51.3 megawatts. On 23 September 2020, the power plant received a new 70-year concession with retroactive effect from 1 January 2020. With an output of 23 megawatts, the Ruppoldingen run-of-river power plant generates 115 million kilowatt hours per year and is certified with the Swiss green electricity label naturemade star.Huber, Urs (2021-09-24). "6000 Kubikmeter Kies landen in der Aare." Aargauer Zeitung (in German). Retrieved 2023-06-27.
Alpiq operates the following run-of-river power plants: + Run-of-river power plants Name Country Capacity MW Annual production(million kWh) Stake (%) Ruppoldingen Switzerland 23 115 100% Flumenthal Switzerland 27 146 62,1% Gösgen Switzerland 51.3 300 100% Ryburg-Schwörstadt Switzerland 120 705 13,5% Martigny-Bourg Switzerland 22 89 18%
Gas-fired and combined cycle power plants Alpiq has stakes of up to 100% in gas-fired and combined cycle power plants in Italy, Spain, and Hungary: + Gas-fired and combined cycle power plants Name Country Capacity MW Annual production(million kWh) Stake (%) Csepel Hungary 403 500 100% Novel Italy 100 602 51% Plana del Vent Spain 846 662 50% San Severo Italy 403 1421 100% Vercelli Italy 50 100%
New renewable energies In addition to hydroelectric power plants, Alpiq also generates electricity through wind power, small hydroelectric power plants and solar energy. The following table provides an overview of the small hydroelectric power plants in which Alpiq has a stake or owns: + Small-scale hydropower plants Name Country Capacity MW Annual production(million kWh) Stake (%) Alagna Valsesia Italy 4.6 9 90% Bätterkinden Switzerland 0.37 2.47 65% Brüggmühle and Sittermühle Switzerland 0.283 1.22 100% Buchholz Switzerland 0.140.53 23% Cotlan Switzerland 2.6 12.5 60% Büttenen 1&2 Switzerland 0.8955.43 100% Eisenhammer Switzerland 0.240.84 100% Freienstein Switzerland 0.61 2.27 18% Grüneta Switzerland 0.1981.41 100% Hagerhüsli Switzerland 0.5 2.85 65% Hämmerli Switzerland 0.10.5 23% Hüscherabach Switzerland 1.9 6.1 60% Lavinuoz Switzerland 2.9 10.8 25% Le Bayet France 2.56.2 100% Model Switzerland 0.4182.51 49% Moos Switzerland 0.88 5.74 100% Matzingen Switzerland 0.1050.64 100% Meyerhans Switzerland 0.422.45 49% Murkart Switzerland 0.3251.48 100% Nenzlingen Switzerland 0.341.43 100% Peist Switzerland 0.2951.2 51% Riein Switzerland 0.0150.07 100% Riva Valdobbia Italy 1.08.5 90% Seon Switzerland 0.0720.41 75% Striempel Switzerland 0.0140.046 100% Tambobach Switzerland 1.835 7.85 70% Tomils Switzerland 0.0380.129 100% Trans Switzerland 0.0220.09 100% Walzmühle Switzerland 0.0620.37 100% Widen Switzerland 0.77 4.4 49%
Solar power plants