Schaffhausen rejects new Axpo contract
A majority of the Schaffhausen electorate rejected the new Axpo shareholder agreement. The vote reflects the population's concerns about a potential privatization of the energy company.
On August 18, a majority of 53.4 percent of Schaffhausen voters rejected the replacement of the old founding agreement of Nordostschweizer Kraftwerke (NOK) with a new Axpo shareholders’ agreement. The proposal failed in 16 of the 26 municipalities, including the city of Schaffhausen, Neuhausen, Beringen and Stein am Rhein.
The voters thus went against their government and the cantonal council, which approved the new agreement by 52 votes to one, according to the voting magazine in January. They argued that the old NOK contract from 1914 was no longer appropriate for an internationally active group with around 7,000 employees.
Opponents warned of a possible privatization of the energy producer. A majority of five contracting parties could decide on the sale of the company, provided they also held a majority of the voting rights. The canton of Schaffhausen currently holds 7.9 percent.
The approval of all shareholders is required for the new shareholders’ agreement to be accepted. The other shareholders have already approved the agreement. The canton of Zurich and its cantonal utility EKZ are the largest shareholders with 18.3 and 18.4 percent respectively, followed by Aargau and its cantonal utility AEW with 14 percent each. St.Gallen and the two cantons of Appenzell hold a 12.5 percent stake via St.Gallisch-Appenzellische Kraftwerke(SAK), Thurgau holds 12.3 percent via EKT, Glarus 1.7 percent and Zug 0.9 percent.