National Council rejects nuclear power bill – Rösti must come up with financing

Narrow majority for delay

From SVP circles comes the suggestion that the federal government could participate directly in the investment costs of new reactors, as it already does, for example, with alpine solar installations. Energy Minister Rösti rejects this. He can, however, envision a sliding market premium. Under such a scheme, the federal government would pay the nuclear plant operators a fixed electricity price, even if the market price were significantly lower.

It involves several billion francs per reactor that the state would have to pay – and that in times of tight federal finances. The Mitte faction is split and can decide the outcome with just a few votes. A majority within the Mitte supported the position that the Federal Council should rework the issue before any decision is made.

The responsible commission had previously narrowly spoken out in favour of removing the construction ban from the Nuclear Energy Act and, in principle, allowing new nuclear power plants. The SP, Greens, and GLP would have preferred not to discuss lifting the nuclear construction ban at all. Instead of new nuclear power plants, they want to rely on renewable energies and electricity imports to close the winter supply gap.

Opponents and supporters of the bill

The Energy Minister and his allies from the SVP and FDP, by contrast, are counting on supply security and winter electricity from new reactors. The Council of States, for its part, wants to push ahead. It sees it as a viable option to close the winter supply gap with new reactors, given that there is significant resistance to wind and hydroelectric projects in particular.

The Council of States had surprisingly clearly approved the bill in the spring. Now the National Council is blocking the path and sending the matter back to the Federal Council. That is what the Parliament Act provides for. In this case, it would be the National Council.

Open financing question

At the end of the debate stands a question of constitution and democracy: in any case, the final word is likely to rest with the voters. Whether new reactors may now actually be built will ultimately be decided by Swiss voters.

What the financing means for the federal government and the cantons as owners of the energy companies has not yet been conclusively clarified. If the construction ban were actually to fall, the federal government and the cantons would have to decide together how much money they want to invest in new reactors.

Outcome remains open

Monday's decision significantly slows down the process. The bill initially returns to the Federal Council, which must now draw up a revised version with concrete financing proposals.

The National Council's narrow decision stands out during the 2026 summer session. The SVP and FDP see themselves vindicated on the issue of supply security, while the SP, Greens, and GLP continue to signal clear opposition. The Mitte remains the decisive factor.