Voters approve credit for district heating in Chur
The majority of Chur's voters voted in favour of an investment contribution of 80 million Swiss francs by the city to the district heating network. The total costs for the expansion by the electricity, water and heat supplier IBC amount to over 300 million Swiss francs.
Chur’s energy supplier Energie Wasser Chur(IBC) can massively expand its district heating network. The electorate approved a corresponding municipal proposal by 60.85 per cent. It states that the city will contribute 80 million Swiss francs to the total costs for the expansion of the heating network over a period of twelve years. These costs amount to 314 million francs.
According to its message to the polls on 12 March, the municipal council supported the proposal with 17 votes in favour and 4 against. Now Chur is supporting the generation project of the IBC, which is an independent institution under public law in the sole ownership of the city, with 60 million francs to increase the endowment capital and in the form of a loan. The city is holding a further CHF 20 million in reserve for any guarantee that may be required.
In the view of the municipal council, the investment is necessary to ensure the conversion to a renewable heat supply within the city. “At the same time, the loss of the previous added value from the sale of gas can be absorbed and the revenues increased elsewhere,” the message continues. “The money that flows out today for the purchase of oil and gas will remain in the region in the future.”
According to the information, IBC wants to borrow a total of 160 million Swiss francs from financial institutions. In addition, a contribution of 56 million francs from the federal government and the canton is expected. The company intends to invest 38 million francs of its own funds.