Switzerland — physical cross-border flows, 2026

Month by month

All borders together, with consumption for scale.

Month	Consumption, MWh	Physical exports			Physical imports			Average price, €/MWh	Difference €	Import ÷ consumption
Month	Consumption, MWh	MWh	€/MWh	€	MWh	€/MWh	€	Average price, €/MWh	Difference €	Import ÷ consumption
January	6,299,666	555,486	138.30	76,823,244	1,197,447	127.20	152,317,096	133.23	−75,493,852	19.0%
February	5,503,711	560,810	113.67	63,749,180	928,320	110.44	102,522,863	114.07	−38,773,683	16.9%
March	5,669,604	946,289	135.59	128,305,643	990,956	128.71	127,542,695	133.30	762,948	17.5%
April	5,108,964	1,037,947	98.16	101,888,366	515,982	83.06	42,859,642	85.26	59,028,724	10.1%
May	5,015,728	941,786	110.45	104,017,889	481,467	91.03	43,826,053	99.14	60,191,836	9.6%
June	4,868,929	987,271	111.40	109,982,580	402,894	86.56	34,874,518	102.10	75,108,062	8.3%
July	4,923,081	1,090,420	120.51	131,402,934	444,633	107.30	47,708,589	116.63	83,694,345	9.0%
August	4,928,153	923,836	143.49	132,565,191	419,519	125.04	52,458,495	139.63	80,106,696	8.5%
September96.0% of hours	4,567,284	854,854	173.97	148,715,985	438,102	154.25	67,576,558	168.33	81,139,427	9.6%
October	5,285,448	755,304	228.28	172,423,225	596,980	218.36	130,354,093	222.35	42,069,132	11.3%
November0.6% of hours	21,952	4,541	239.57	1,087,814	5,940	239.35	1,421,742	254.15	−333,929	27.1%
Total	52,192,522	8,658,543	135.24	1,170,962,051	6,422,238	125.11	803,462,344	131.53	367,499,707	12.3%

Consumption is measured separately, as the hourly average power summed over the month — not by adding up readings, since sources publish at different rates. The last column puts imports next to it for scale; it is not a dependency figure, because part of what enters passes straight through to another neighbour.

Where the difference comes from

367,499,707 € for 2,236,304 MWh that stayed in the country works out at 164.33 € per megawatt-hour, in a month that averaged 131.53.

Energy that stayed, at the month's average price −294,136,387 80.0%
What came in arrived above that average −41,241,109 11.2%
What went out left below it −32,122,211 8.7%

The first line is energy the country needed and got. The other two — 73,363,320 € together — come not from how much moved but from when: cheap hours to sell in, expensive hours to buy in. That is the price of a timing mismatch, not a loss.

Official validation

The measured physical flow, checked against ANRE's published commercial trade.

Month	Physical net, MWh	Commercial net, MWh	Difference, MWh	Status
January	—	—	—	AWAITING OFFICIAL ANRE DATA
February	—	—	—	AWAITING OFFICIAL ANRE DATA
March	—	—	—	AWAITING OFFICIAL ANRE DATA
April	—	—	—	AWAITING OFFICIAL ANRE DATA
May	—	—	—	AWAITING OFFICIAL ANRE DATA
June	—	—	—	AWAITING OFFICIAL ANRE DATA
July	—	—	—	AWAITING OFFICIAL ANRE DATA
August	—	—	—	AWAITING OFFICIAL ANRE DATA
September	—	—	—	AWAITING OFFICIAL ANRE DATA
October	—	—	—	AWAITING OFFICIAL ANRE DATA
November	—	—	—	AWAITING OFFICIAL ANRE DATA

Gross volumes differ by design: the official indicators include transits, and a transit is counted once entering and once leaving, while a physical border sees it only once. Net figures converge, because transits cancel out — which is why the comparison is made on the net.

The percentage relates the difference to the month's commercial net. In a month with a small net, the same difference in MWh yields a larger percentage — which is why the difference is always shown in MWh as well.

ANRE publishes these exchanges as a physical balance in GWh. It publishes no import or export value and no average price per direction, so no money comparison is possible.

Physical cross-border flows and commercial electricity trades measure different phenomena. ANRE data is shown as an independent official benchmark and should not be interpreted as an exact reconciliation.

Italy

Month by month, Switzerland's side of this border.

Month	Physical exports MWh	€/MWh	€	Physical imports MWh	€/MWh	€	Difference €
January	410,954	134.95	55,460,136	69,304	138.33	9,586,968	45,873,168
February	467,189	110.92	51,822,731	21,195	96.71	2,049,795	49,772,936
March	886,921	133.13	118,074,462	1,418	214.05	303,518	117,770,944
April	748,888	98.42	73,703,860	29,846	13.86	413,616	73,290,243
May	534,851	109.53	58,580,392	44,163	24.42	1,078,482	57,501,910
June	637,014	97.53	62,126,523	18,790	142.13	2,670,561	59,455,962
July	917,245	117.55	107,822,223	0	—	0	107,822,223
August	684,713	134.82	92,314,665	10,837	158.94	1,722,426	90,592,239
September	622,538	163.45	101,756,589	17,350	136.89	2,374,950	99,381,639
October	556,571	216.99	120,771,015	24,715	267.97	6,622,858	114,148,157
November	4,525	239.59	1,084,077	0	—	0	1,084,077
Total	6,471,408	130.35	843,516,673	237,618	112.88	26,823,176	816,693,497

Germany

Month by month, Switzerland's side of this border.

Month	Physical exports MWh	€/MWh	€	Physical imports MWh	€/MWh	€	Difference €
January	55,086	152.71	8,412,360	653,990	123.41	80,710,154	−72,297,794
February	44,974	130.45	5,867,007	416,482	110.43	45,990,935	−40,123,927
March	48,912	174.87	8,553,301	418,850	126.31	52,904,048	−44,350,747
April	252,542	103.32	26,091,422	114,203	76.85	8,776,825	17,314,597
May	340,242	113.32	38,556,902	70,491	76.13	5,366,666	33,190,236
June	290,563	135.96	39,503,723	110,176	70.09	7,721,793	31,781,930
July	139,425	137.65	19,191,749	150,739	104.45	15,744,940	3,446,809
August	166,330	170.94	28,432,617	140,171	113.23	15,871,139	12,561,477
September	175,116	205.52	35,990,706	167,401	147.65	24,716,987	11,273,719
October	152,233	262.82	40,010,197	175,127	209.34	36,660,723	3,349,474
November	16	234.62	3,737	2,748	239.62	658,543	−654,806
Total	1,665,438	150.48	250,613,721	2,420,378	121.93	295,122,753	−44,509,032

France

Month by month, Switzerland's side of this border.

Month	Physical exports MWh	€/MWh	€	Physical imports MWh	€/MWh	€	Difference €
January	11,557	138.49	1,600,564	443,365	131.87	58,468,581	−56,868,017
February	186	126.31	23,473	464,583	111.61	51,853,978	−51,830,505
March	401	176.78	70,961	460,242	131.38	60,468,105	−60,397,144
April	10,434	-58.52	−610,606	313,986	95.30	29,922,886	−30,533,492
May	5,833	-91.68	−534,772	315,682	107.00	33,779,118	−34,313,889
June	13,180	156.55	2,063,410	213,826	95.91	20,507,820	−18,444,410
July	9,229	111.53	1,029,237	218,133	114.39	24,951,808	−23,922,571
August	28,220	152.90	4,314,928	214,604	139.22	29,877,567	−25,562,639
September	25,984	172.05	4,470,621	197,244	165.22	32,588,980	−28,118,359
October	8,471	213.80	1,811,033	341,041	222.16	75,766,476	−73,955,443
November	0	—	0	2,525	238.81	602,939	−602,939
Total	113,495	125.46	14,238,849	3,185,232	131.48	418,788,258	−404,549,409

Austria

Month by month, Switzerland's side of this border.

Month	Physical exports MWh	€/MWh	€	Physical imports MWh	€/MWh	€	Difference €
January	77,890	145.72	11,350,185	30,788	115.35	3,551,393	7,798,792
February	48,461	124.55	6,035,970	26,060	100.85	2,628,156	3,407,813
March	10,055	159.81	1,606,919	110,445	125.56	13,867,023	−12,260,104
April	26,082	103.66	2,703,691	57,946	64.65	3,746,315	−1,042,625
May	60,860	121.84	7,415,366	51,131	70.44	3,601,786	3,813,580
June	46,515	135.20	6,288,924	60,102	66.13	3,974,344	2,314,580
July	24,521	137.01	3,359,725	75,760	92.55	7,011,841	−3,652,116
August	44,574	168.33	7,502,981	53,908	92.52	4,987,362	2,515,619
September	31,215	208.17	6,498,069	56,108	140.72	7,895,640	−1,397,572
October	38,029	258.51	9,830,980	56,097	201.51	11,304,035	−1,473,055
November	0	—	0	667	240.34	160,261	−160,261
Total	408,202	153.34	62,592,808	579,010	108.34	62,728,157	−135,349

Method

Not an invoice. Cross-border electricity is not sold country to country: the markets are coupled and the physical flow is the outcome of a shared auction. These figures value the measured flow at this zone's own day-ahead price, so both directions can be compared on the same scale.

Flows are measured, quarter-hour by quarter-hour; hourly borders are spread across the four quarters they cover, so every megawatt-hour meets the price that was actually in force. Energy entering the country is not the same as energy consumed here — some of it passes through.

A country between two others carries energy that is neither produced nor consumed there. Energy entering is not energy used.

Month by month

Where the difference comes from

Official validation

Border by border

Italy

Germany

France

Austria

Method