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Regulators intervene over electricity prices

Competition regulators have weighed into the debate over rising electricity prices.

The Competition Commission on Friday called for an overhaul of the national power-grid operator, Swissgrid, to distance itself from electricity companies.

Swissgrid caused a public outcry when it announced in late September that electricity prices would double over the next five years.

The Competition Commission said Swissgrid's board of directors needed to be reformed "immediately".

It also recommended the government introduce regulations requiring Swissgrid's senior committees be made up of independent members. At the moment, electricity company shareholders sit almost exclusively on Swissgrid expert committees, the commission said.

Swissgrid responded on Friday by announcing plans for a new board of directors chairman. It will recommend Peter Grüschow take the place of Hans Schweickardt during an extraordinary meeting in December.

The national power-grid operator became operational in 2006 replacing the seven existing regional grids.


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