The Primeo Energie Group looks back on a challenging 2024 financial year, shaped by regulatory requirements and high balancing energy costs, which impacted the results. The strategic expansion of business activities continues to progress. More than CHF 140 million was invested in sustainable energy solutions, primarily in the Basel metropolitan area. Overall, Primeo Energie is solidly financed and well positioned to continue successfully driving the energy transition.
Key facts at a glance:
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Basic supply tariff down by 1%, with continued attractive PV feed-in compensation of 10.5 Rp/kWh (plus 2.5 Rp/kWh for the certificate of origin)
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Geographical diversification supports the Group's results, with more than 80% of operating income generated abroad
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Electricity-related services such as energy communities (ZEV) and balancing services are gaining momentum
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CHF 143 million invested in energy infrastructure, with over 70% of that in the cantons of Basel-Landschaft and Solothurn
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High balancing energy costs led to additional burdens of CHF 40 million
In 2024, Primeo Energie generated revenues of CHF 2.2 billion (previous year: CHF 2.5 billion). Operating profit (EBIT) decreased to CHF 124 million (previous year: CHF 160 million), mainly due to weaker electricity business in Switzerland and generally lower electricity prices. Net profit rose to CHF 91 million (previous year: CHF 85 million) and will serve as a basis for further investment. This increase was driven by stronger results from subsidiaries with lower minority interests. The consolidated balance sheet total reached CHF 3 billion (previous year: CHF 2.9 billion), and the equity ratio improved slightly to 56% (previous year: 53%), confirming the Group’s solid financial position.
Progress in decarbonisation, decentralisation, and digitalisation
During the reporting year, Primeo Energie achieved further progress in all three of these strategic areas. The shift from fossil to renewable energy sources in power generation remains on track. Decentralised electricity production is accelerating, with an increase of around 2,000 photovoltaic installations, bringing the total in the grid area to approximately 8,600, with a combined installed capacity of 194 megawatts. This positive development increases the need to modernise the electricity grid.
Electricity-related services also expanded. ZEV metering points rose by 20% to 14,800, and Primeo Energie’s balancing energy pool equalio grew from 250 to 261 flexible production units covering primary, secondary and tertiary reserves. The pool also participates in the winter reserve.
At the same time, many of Primeo Energie's processes, systems and services are increasingly being digitalised—for example: the automation of heat pump connection requests, the expansion of the “Future Heat and Power” website, the enhancement of the customer portal, and the flexibility platform equalio.com.
Energy transition as key driver of operations
The energy transition and the accompanying restructuring of the energy system are core drivers of Primeo Energie’s business. The 2024 financial year saw new regulatory developments, requiring energy providers to adapt. The new electricity law, passed in summer 2024, introduces wide-ranging measures to expand renewable energy. Accordingly, Primeo Energie is making significant investments, especially in grid infrastructure, installations, and flexibility solutions.
Geographic and business diversification pays off
With its group structure and geographic diversification, Primeo Energie is well positioned to quickly adapt to changing conditions. In Switzerland, the Energy Solutions segment was significantly affected by market disruptions. The rapid PV expansion, combined with regulatory changes and the absence of a power agreement with the EU, led to losses in energy management due to the difficulty of forecasting PV feed-in, particularly in variable weather conditions. This resulted in very high short-term procurement costs (balancing energy).
In contrast, the electricity business in France benefited from a stable environment and was able to offset the losses in Switzerland.
Profits reinvested in the transformation of the energy system
Primeo Energie reinvested its entire profit in projects that support the energy system transformation. A significant portion went into strengthening the electricity grid to ensure it is robust and resilient in line with energy transition needs. Investments were slightly below last year’s level due to external delays beyond the company’s control.
The Swiss Federal Council's decision to lower the WACC (allowed return on capital in grid monopolies) from 2026 onward will significantly limit Primeo Energie’s ability to invest in grid infrastructure. This will delay the transition to a smart, bidirectional grid.
New flexible tariff models that maximise supply security and cost efficiency are under development, such as Primeo NetzAktiv and Primeo SolarAktiv.
Decarbonisation of heating and industrial solutions
In both Switzerland and Alsace, progress is being made in decarbonising the Heat and Industrial Solutions segment. Key projects include the Birstal district heating network, which went into operation at the end of 2024, and a new biomass heating plant in Aesch, whose construction began during the reporting year.
To strengthen the segment, Primeo Energie extended its twelve-year partnership with the Clean Energy Infrastructure Switzerland 3 KmGK (CEIS 3) fund of Swiss Life Asset Management and launched a new cooperation with local energy utility SIG in Geneva.
The Production segment is developing according to plan and benefited from favourable market prices from previous years. The affiliated company aventron continued to increase both its installed capacity and production of renewable electricity—from hydropower, solar and wind energy. A notable development is the launch of Sedrun Solar, a high-alpine PV project under the Swiss Solar Express programme, aimed at boosting winter electricity production as called for in the Mantelerlass.
To help stabilise fluctuations in renewable electricity output, Primeo Energie also began investing in large-scale battery storage systems.
Sustainability as a strategic goal
Sustainability is a cornerstone of Primeo Energie’s strategy. The greenhouse gas inventory was further developed during the reporting year, based on the Science Based Targets initiative (SBTi). In addition, a climate transition plan was drawn up in line with SBTi targets.
Key sustainability and climate protection activities include: ongoing decarbonisation of power generation, 100% renewable supply in basic service, support via the energy fund, and a growing portfolio of wind, solar, and hydropower production.
Media Contacts:
Fabienne Sasse, Head of Communications – presse@primeo-energie.ch
Viktor Sammain, PR Editor – presse@primeo-energie.ch
