Energy, ecology and regionsHistorical study2022

2022: energy, capacity and liquidity secure different things

Energy uncertainty led the Confederation to prepare exceptional reserves and financial instruments in 2022. Together they were not a single measure. Published in 2026, this study separates the risks covered, commitments made and outcomes not yet observable when contracts were signed.

Period studied
2022
Published
Document or event
2022: energy, capacity and liquidity secure different thingsHTML · English
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Reserved energy · Callable capacity · Usable grid · Available liquidity · Reduced demand
The 2022 measures addressed complementary constraints: financial support does not replace a physical reserve, nor a reserve an available grid.

Three questions before counting resources

Supply security can fail in several ways: energy over a period, available capacity at a critical hour or the ability to transport supply may be missing. A business can also urgently need money without its installations ceasing to operate. These require different responses.

Power describes instantaneous capacity; energy incorporates duration. A reserve usable only briefly does not necessarily cover a prolonged deficit. Stored energy is insufficient if it cannot be delivered when needed. Equipment, energy quantities and francs should not be added as equivalents.

Financial instruments belong to another chain. Liquidity can prevent operational disruption caused by payment obligations, but does not physically produce another kilowatt-hour. Conversely, a reserve does not by itself resolve ongoing company finance. Public scrutiny must identify each instrument’s specific risk.

September’s contract prepared for the following winter

On 2 September 2022, the Federal Council announced a contract with GE Gas Power for eight mobile turbines at Birr. The capacity was intended for the critical period towards the end of winter 2022/23. The statement mentioned possible use of several fuels, not electricity already delivered in September.

Installation, connection, control integration and testing separate contract and operation. Procurement and operational readiness are different events. Preparation timing is part of security because critical needs can arrive before completion.

The hydropower reserve follows another logic: retaining energy for a difficult period instead of using it entirely under ordinary market conditions. Availability carries an opportunity cost even if the reserve is never called. Its usefulness cannot be inferred solely from operating hours, just as insurance cannot be judged solely by claims paid.

The word “reserve” does not replace verification. Quantity, duration, activation conditions and limits must be clear. It protects against defined circumstances, not every imaginable combination of difficulties. Responsible policy identifies remaining uncertainty.

November: a commitment is not yet a loss

The Finance Delegation’s statement of 24 November 2022 explained urgent credits for reserves, preparation and the savings campaign. It distinguished multi-year commitment credits from additional resources for annual expenditure. An authorised ceiling is not automatically money already spent.

The document also recalled support for systemically important electricity companies. An authorised loan is neither a final grant nor a realised loss. That does not make public risk zero. Drawdowns, terms, repayment and security require monitoring, rather than describing every commitment as certain cost or a consequence-free transaction.

Urgency changes decision timing but does not remove responsibility. Parliament must be able to review rapid commitments, reasons and consequences afterwards. The public must distinguish authorisation from actual use. This matters especially where continuity of an essential service justifies intervention.

A reserve has neighbours and a grid

The parliamentary statement mentions connection work, controls and noise reduction. Theoretical capacity becomes a real resource in an inhabited place. National benefit should not make burdens on nearby residents invisible.

Accelerated procedures should identify exceptions, duration and mitigation. An emergency choice should not silently become an ordinary rule. Assessment should distinguish what readiness required from what could be avoided or corrected.

Reducing demand complements these instruments without replacing them. Savings possibilities vary by buildings, equipment and activity. Care services and already frugal households have different margins from avoidable uses. Effort must follow real possibilities.

For the PCP, the lesson of 2022 is continuous public responsibility: plan reserves, maintain grids, protect essential needs and scrutinise financial risks. Leaving exceptional arrangements needs preparation as much as entering them. Security becomes credible when resources address named risks and society can verify the service actually obtained.

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