Switzerland — physical cross-border flows, 2026

Every month of the year, every border, in energy and in money. Flows are measured; each megawatt-hour is valued at Switzerland's own day-ahead price for the quarter-hour it actually crossed in.

Month by month

All borders together, with consumption for scale.

Month Consumption, MWh Physical exports Physical imports Zone price, €/MWh Difference € Import ÷ consumption
MWh€/MWh€ MWh€/MWh€
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%
September35.3% of hours 1,606,834 300,741 162.30 48,808,942 145,938 139.68 20,383,991 159.60 28,424,952 9.1%
Total 43,924,672 7,344,585 122.20 897,543,970 5,527,155 112.99 624,493,941 117.74 273,050,028 12.6%

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

273,050,028 € for 1,817,430 MWh that stayed in the country works out at 150.24 € per megawatt-hour, in a month that averaged 117.74.

  • Energy that stayed, at the month's average price −213,980,742 78.4%
  • What came in arrived above that average −26,262,574 9.6%
  • What went out left below it −32,806,712 12.0%

The first line is energy the country needed and got. The other two — 59,069,286 € 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

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.

Border by border

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 241,255 153.82 37,109,290 147 236.28 34,793 37,074,497
Total 5,529,029 118.83 657,014,282 195,700 91.26 17,860,160 639,154,122

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 43,974 200.61 8,821,714 70,831 135.83 9,621,058 −799,344
Total 1,382,046 132.72 183,430,795 2,145,934 113.10 242,707,558 −59,276,763

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 8,983 168.26 1,511,443 52,301 149.12 7,799,212 −6,287,769
Total 88,023 107.57 9,468,637 2,696,723 117.78 317,629,075 −308,160,437

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 6,529 209.29 1,366,496 22,659 129.26 2,928,928 −1,562,432
Total 345,487 137.86 47,630,255 488,798 94.72 46,297,149 1,333,107

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.