Axpo to market Canton of Glarus KLL energy share
18.9.2019 - The Canton of Glarus and Axpo have come to an agreement on how to implement the court settlement concerning the Limmern pumped storage plant. Among other things, the agreement specifies that the Axpo subsidiary Axpo Solutions AG will market the Canton of Glarus' energy share from its participation in Kraftwerke Linth-Limmern (KLL) until at least 31 December 2021.
The two shareholders in Kraftwerke Linth-Limmern AG agreed to a court settlement in the legal dispute regarding the Limmern pumped storage plant on 25 March 2019 (Media Release, dated 27 March 2019). The parties have now specified the details for the settlement.
As of 1 October 2019, Axpo Solutions AG will market the Canton of Glarus' energy share from its participation in Karftwerke Linth-Limmern (KLL) until at least 31 December 2021. In addition, the agreement defines the distribution of Kraftwerke Linth-Limmern AG's annual costs to the Limmern pumped storage plant and other KLL plants, the handling of certificates of origin, and the adaptation of the dividend policy.
The agreement is valid for 20 years provided the canton does not fully exercise its energy purchase rights for the Limmern pumped storage plant beforehand.
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Axpo Holding AG
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