FMV SA (Forces Motrices Valaisannes)

FMV SA (Forces Motrices Valaisannes) is a Swiss electricity company headquartered in Sion, in the canton of Valais. It was created in 1957, when the people of Valais approved the establishment of Forces Motrices Valaisannes, and it operates as a société anonyme d'économie mixte — a mixed-economy limited company whose shareholding is dominated by Valais public bodies. Because it is held by both the canton and the communes, FMV describes itself as belonging "twice" to the citizens of Valais. The company is unusual in that it has its own cantonal law, the LFMV. FMV's business revolves around three core activities: producing electricity, transporting and distributing it at a supra-regional level, and trading electricity. Its production is focused on hydropower, drawing on its own generating fleet as well as stakes in other production units. It also acts as a competence centre serving the canton, the communes and regional electricity supply companies in matters of production, distribution and commercialisation. The company positions itself as a federating partner for renewable-energy projects in Valais and Switzerland, and as a guardian of water, the canton's key natural resource. Historically, FMV began as a holding-style manager of participations in companies linked to electricity production and distribution in Valais. It expanded into network ownership by acquiring the Lonza transport and distribution network in central Valais and the Lower Valais in 1982, and the Upper Valais portion of the same network plus a 20% stake in Alusuisse's Rhonewerke production company in 1987. A 1990 cantonal law gave FMV the mission of defending Valais public interests in the hydropower economy and in the management of water. In 1993 it became a genuine electricity producer by acquiring 70% of Rhonewerke, and in 2005 it shortened its corporate name from "Forces Motrices Valaisannes" to "FMV". Today FMV operates a 100% renewable production fleet and is active in production, supra-regional distribution, electricity trading and support to partners. Its stated vision is that, by 2050, with the return of concessions, it will become the largest hydropower producer in Switzerland, serving both Valais and the country, contributing to security of supply and to the energy transition. Valais hydropower accounts for a large share of Swiss hydroelectric output, and FMV presents itself as a pioneer in Valais and a future leader of Swiss hydropower production.

FMV's roots lie in the early electrification of Valais. At the turn of the 20th century, industry settled beside Alpine rivers to exploit hydropower: Lonza at Gampel in 1897, Alusuisse at Chippis in 1905, Ciba using the Vièze from 1904, and the Swiss Federal Railways (CFF) exploiting the Rhône at Massaboden and the Trient at Vernayaz to electrify the Simplon line and their network. Because electricity could not yet be transported over long distances without losses, generation had to be located next to the water, giving the Alps a major advantage. In 1957, the people of Valais voted in favour of creating Forces Motrices Valaisannes. In its early decades, FMV's activity consisted mainly of managing its participations in various companies connected with electricity production and distribution in Valais. It grew into a network owner in 1982 by buying the Lonza transport and distribution network in central Valais and the Lower Valais. In 1987 it acquired the Upper Valais portion of the same Lonza network as well as 20% of Alusuisse's Rhonewerke production company. A cantonal law of 1990 gave FMV the mission of defending Valais public interests in the hydropower economy and in the management of the canton's principal natural resource, water. In 1993 the company became a genuine electricity producer by acquiring 70% of Rhonewerke. In 2005 it changed its corporate name, dropping the generic "Forces motrices valaisannes" in favour of "FMV". FMV is constituted as a société anonyme d'économie mixte under private law, with share capital of 100 million Swiss francs, and is majority-owned by Valais public bodies. Because it is held by both the communes and the canton, the company says it belongs twice to the citizens of Valais. It is one of the rare companies to have its own cantonal law, the LFMV. In the present period, FMV operates a 100% renewable production fleet and is active in production, supra-regional distribution, electricity trading and support to partners. It describes itself as a pioneer in Valais and as a company called to become the leader of Swiss hydropower production. Its stated vision for 2050 is that, with the return of concessions, it will become the most important hydropower producer in Switzerland, serving Valais and the country, contributing decisively to national security of supply and to the energy transition. Valais hydropower represents 28% of Swiss production, and the Alpine cantons (Valais, Grisons, Ticino) produce 63% of the country's electricity, according to the company.

• 2005

  FMV changes its corporate name, dropping 'Forces motrices valaisannes' in favour of 'FMV'.

• 1993

  FMV becomes a genuine electricity producer by acquiring 70% of Rhonewerke.

• 1990

  A cantonal law gives FMV the mission of defending Valais public interests in the hydropower economy and water management.

• 1987

  FMV acquires the Upper Valais portion of the Lonza network and 20% of Alusuisse's Rhonewerke production company.

• 1982

  FMV acquires the Lonza transport and distribution network in central Valais and the Lower Valais.

• 1957

  The people of Valais vote in favour of creating Forces Motrices Valaisannes (FMV).

A publicly owned, Valais-rooted hydropower producer, network operator and electricity trader positioning itself as a federating partner for renewable energy and a future leader of Swiss hydropower.

• Hydroelectricity production

• Electricity transmission and supra-regional distribution

• Electricity trading

• Renewable energy project development and partnerships

• Competence centre services for the canton, communes and electricity supply companies

1. 1FMV : production, transport et valorisation d'électricitéfmv.ch
2. 2Qui nous sommes - FMVfmv.ch
3. 3L’histoire du Valais hydroélectrique en cinq points - FMVfmv.ch
4. 4FMV (entreprise) — Wikipédiafr.wikipedia.org
5. 5FMV — Wikidatawikidata.org